When is a hybrid costing system appropriate in a manufacturing setting?
A hybrid costing system combines characteristics of both job order and process costing systems. Such a system would be appropriate in a manufacturing setting where products can be mass produced up to a certain point and then must be customized after that point. For example an automobile manufacturer that sells a wide variety of options on vehicles would use a hybrid costing system--process for manufacturing the chassis and motor, then job order for the distinguishing features such as specialized interiors. Likewise a company that manufactured different types of clothes would use job order costing for the materials but process costing for processing the materials into finished products.
You might also like to view...
Compton Corporation is a wholesale distributor of educational CD-ROMs. The company's records indicate the following: This YearLast YearUnits Sold 250,000 200,000Sales$1,250,000 $1,000,000Cost of goods sold 875,000 700,000Gross margin 375,000 300,000Selling and administrative expenses 222,000 210,000Net operating income$153,000 $90,000What is the company's contribution margin for this year? (Round your intermediate calculations to 2 decimal places.)
A. $213,000 B. $315,000 C. $(667,500) D. $375,000
Answer the following statements true (T) or false (F)
1. Leadership makes the difference between success and failure in today’s hospitality organizations. 2. It is the basic experiences like cooking a steak correctly every time you go to a particular restaurant that compel guests to return again and again. 3. Today’s “wow” is tomorrow’s standard expectation for the guest who has been there and done that. 4. The second step in staffing is finding the right people for the right job.
A company's financial records at the end of the year included the following amounts:Cash$70,000Accounts Receivable28,000Supplies4,000Accounts Payable10,000Notes Payable5,000Retained Earnings, beginning of year17,000Common Stock40,000Service Revenue53,000Wages Expense8,000Advertising Expense5,000Rent Expense10,000?What is the amount of total stockholders' equity that would be reported on the Balance Sheet at the end of the year?
A. $102,000 B. $57,000 C. $30,000 D. $87,000
The opener for a sales message should be A) provocative, humorous or entertaining, and medium length (5-10 lines)
B) stimulating, relevant, honest, and short (1-5 lines). C) appealing, informative, persuasive, conversational, and medium length (5-10 lines). D) entertaining or serious, focused, persuasive, and short (1-5 lines).