If accounts payable have increased during a period
A) revenues on an accrual basis are less than revenues on a cash basis.
B) expenses on an accrual basis are less than expenses on a cash basis.
C) expenses on an accrual basis are the same as expenses on a cash basis.
D) expenses on an accrual basis are greater than expenses on a cash basis.
D
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A _________________________ is an amount deducted by customers for payment within the discount period
Fill in the blank(s) with correct word
Revenue accounts are increased by credits
Indicate whether the statement is true or false
Department S had no work in process at the beginning of the period. 12,000 units of direct materials were added during the period at a cost of $84,000, 9,000 units were completed during the period, and 3,000 units were 30% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. Direct labor was $49,500 and factory overhead was $9,900
The total cost of units completed during the period were: A) $117,000 B) $143,400 C) $121,000 D) $127,450
Which of the following is an attribute of traditional costing systems?
A) raw materials are ordered in large quantities B) production is completed in self-contained work cells C) suppliers make frequent deliveries of small quantities of raw materials D) management works with suppliers to ensure defect-free raw materials