Conversion cost is the same thing as manufacturing overhead.
Answer the following statement true (T) or false (F)
False
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Under a job order cost system of accounting, the entry to distribute payroll to the appropriate accounts would be:
a. Debit-Payroll Credit-Wages Payable b. Debit-Work in Process Debit-Factory Overhead Debit-Selling and Administrative Expense Credit-Payroll c. Debit-Work in Process Debit-Finished Goods Debit-Cost of Goods Sold Credit-Payroll d. Debit-Work in Process Debit-Factory Overhead Debit-Selling and Administrative Expense Credit-Wages Payable
Annette has a goal of decreasing the number of burns associated with the kitchen at The Burger Joint. Which step in the decision-making model has Annette completed?
A. identify and weigh decision criteria B. define the problem C. choose, implement, and evaluate the best alternative D. rate alternatives on the basis of decision criteria
A $200,000 bond issue with a carrying value of $194,000 is called at 101 and retired. The entry to record the retirement of bonds is:
A) Bonds Payable 200,000 Gain on Retirementof Bonds 6,000Cash 194,000 B) Bonds Payable 200,000 Cash 200,000 C) Bonds Payable 200,000 Loss on Retirementof Bonds 8,000Unamortized BondDiscount 6,000Cash 202,000 D) Bonds Payable 194,000 Loss on Retirementof Bonds 8,000Cash 202,000
The decisions about each of the following can be changed fairly easily except decisions related to ______.
A. transportation B. where to locate facilities C. inventory D. information sharing