Discuss the basic forms used in a job-order costing system
The forms used in a job-order costing system include (1) a job-order cost sheet which records all the financial and significant production data (actual or standard, and possibly budgeted) relating to a particular job; (2) a material requisition form which records the costs and quantities of material that has been requisitioned for a particular job; and (3) an employee time sheet which records the jobs worked on by an employee and the amount of time spent on each job.
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The annual Consumer Reports rating of your company's flagship product was just released. Generally speaking the rating was good but not great. Based on the consumer comments that were referenced in the rating, it appears that many consumers have a negative view of the product's convenience and safety attributes.? ? In order to address these consumer concerns your company should consider doing which of the following?
A. Make aesthetic modifications to the product.? B. ?Make line extensions to the product. C. ?Make functional modifications to the product. D. ?Lower the price of the product. E. ?Make quality modifications to the product.
The job order cost sheets used by Greene Company revealed the following: Job. No.Bal., May 1 May Production Costs134 $1,700 $0 135 1,200 300 136 0 900 Job No. 135 was completed during May and Jobs No. 134 and 135 were shipped to customers in May. What was the company's cost of goods sold for May and the balance of Work in Process inventory on May 31?
A. $1,200; $2,900. B. $3,200; $900. C. $4,100; $0. D. $2,900; $1,200. E. $1,700; $1,200.
Which of the following accurately describes how Netflix used innovation to gain a competitive advantage?
A. Netflix moved from online streaming to online DVD rentals via the Internet. B. Netflix applied big data analytics to its user preferences to provide highly personalized viewing recommendations. C. Netflix applied first mover advantages to lock up talent needed to produce original content for DVD rentals and online streaming. D. Netflix moved from content development to upgrading its data analytics to provide faster online streaming.
An interest rate is also called a discount rate.
Answer the following statement true (T) or false (F)