Discuss standard costing as used in conjunction with process costing
When standard costing is used in conjunction with process costing, the costing procedure is simplified. Standard costing eliminates the calculation in each new period of a new production cost because the standards are established as on-going norms for (at least) a one-year period of time. Standard costing in a process costing system is essentially a FIFO system that permits variances to be recognized during the period.
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Labor of persons under age 18 is not regulated under federal law
Indicate whether the statement is true or false
In a regression model with two predictors x1 and x2, an interaction term may be used when:
A) the effect of x1 on the dependent variable is influenced by x2. B) both the variables are independent variables. C) both variables are influential to each other. D) the effect of x2 on the dependent variable is not influenced by x1.
A company purchased $10,000 of merchandise on June 15 with terms of 3/10, n/45, and FOB shipping point. The freight charge, $500, was added to the invoice amount. On June 20, it returned $800 of that merchandise. On June 24, it paid the balance owed for the merchandise taking any discount it is entitled to. The cash paid on June 24 equals:
A) $9,224. B) $10,200. C) $10,500. D) $10,300. E) $9,424.
Answer the following statement(s) true (T) or false (F)
1. Coaxial cable has one central wire surrounded by insulation, a metallic shield, and a final case of insulating material. 2. Infrared is a wireless communications medium that uses light waves to transmit signals or information. 3. Infrared communications can penetrate walls, buildings, and other structures. 4. Bluetooth is a standard for transmitting information in the form of long-range radio waves. 5. Wi-Fi is a wireless communication technology that uses red light to send and receive information.