Which of the following statements is false?
A. In process costing, the cost per unit in a department is found by spreading the period's manufacturing costs over the production activity.
B. In process costing, costs are accumulated by department.
C. In job-order costing, costs are accumulated by job order.
D. In job-order costing, the unit cost is found by dividing the job's total cost by the job's total units.
E. In process costing, the total cost of each unit is found by dividing the total factory costs by the number of units completed.
Answer: E
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Journal entries recorded at the end of each accounting period to prepare the revenue, expense, and dividends accounts for the upcoming period and to update the retained earnings account for the events of the period just finished are referred to as:
A. Closing entries. B. Updating entries. C. Adjusting entries. D. Final entries. E. Work sheet entries.
If the interest rate on three-month Treasury securities is 6 percent and the interest rate on ten-year Treasury securities is 4 percent, then
A. the economy has probably just emerged from a recession. B. the yield curve slopes upward steeply. C. a recession is likely to occur. D. the economy is probably in the middle of an economic expansion.
One way to minimize the chance of a candidate being considered careless or disrespectful is to do what?
A) Visit career services B) Have a fixed and well planned career path C) Catch errors before the résumé is sent D) Include extensive references E) Ask for information that can be found on the organization's website
Forecasting techniques are based on the idea that ______.
a. the future is related to the past (Assessing the Environment; Quantitative Forecasting Tools) b. the future can be predicted accurately c. a good guess about the future is better that no guess at all d. experts with the right tools can know the future with near certainty