Which of the following statements about job order costing is False
a. A job order costing system is appropriate for a company which makes products that are all alike; such as golf balls.
b. A standard cost system will allow a company to quickly recognize cost variances and to correct the problems.
c. In a job order accounting system, each job is treated as a unique cost entity and costs are accumulated by jobs.
d. A company which uses a standard accounting system records both standard and actual costs in their accounting records.
a
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Which of the following is a distinctive characteristic of multidivisional structured organizations in the United States?
A) These organizations have a close relationship with the different organizations part of the supply chain. B) Executives at the corporate headquarters are committed to single business units. C) Corporate headquarters are least concerned about strategic planning and the allocation of resources among business units. D) Profit responsibility for operating decisions is assigned to managers of individual business units.
The ________ variance is the difference between the actual quantity multiplied by the actual price and the actual quantity multiplied by the standard price
a. price b. volume c. budget d. usage
The allocation of supply sources and markets to facilities has a significant impact on performance because
A) it cannot affect total production, inventory, and transportation costs incurred by the supply chain to satisfy customer demand. B) it cannot affect customer demand. C) it affects total production, inventory, and transportation costs incurred by the supply chain to satisfy customer demand. D) it cannot satisfy customer demand.
Sumitomo Bank, a large bank in southern California, has just purchased 120 high-speed telephone fax machines (costing about $1,300 each) to speed communications among its many offices. The purchase was made by the purchasing manager, who expects the machines to last about five years. In this case, the fax machines are
A. installations. B. accessory equipment. C. professional services. D. component parts. E. MRO items.