Explain the differences between life-cycle product costing and target costing.
What will be an ideal response?
Life-cycle product costing tracks costs attributable to each product from the start of the research for a product until the finish-the final customer support. Life-cycle product costing is based on what costs are estimated to be. Target costing starts with the target price-what the consumer is willing to pay minus the target profit. Target costing is a measure of what costs can be.
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Calhoun, Inc purchased equipment at the beginning of 2015 for $180,000 . Rose decided to depreciate the equipment over a 5-year period using the double-declining-balance method. Calhoun estimated the equipment's residual value at $30,000 . Which of the following statements is correct concerning Rose's financial statements at December 31, 2015?
a. The book value of the equipment is $108,000. b. The book value of the equipment is $72,000. c. The total accumulated depreciation is $90,000. d. Depreciation expense for 2015 is $60,000.
When a corporation decides to pay dividends the date of record is the day that decision is entered into the corporate books
Indicate whether the statement is true or false
Armex, a large power plant, has been in the news for a potential defect in the construction of its inner chambers that caused radioactive fumes to escape from the plant to the surrounding areas
This has endangered the lives of the employees at the plant as well as those staying in the nearby areas. This safety violation is likely to be taken up by the ________ for corrective action like closure of the plant. A) Federal Nuclear Agency B) U.S. Army Corps of Engineers C) Nuclear Waste Policy Commission D) Nuclear Regulatory Commission
What is the name for the trial participant who "reports" every word of the open-court
proceedings and may prepare a transcript of the proceedings? a. Judge b. Bailiff c. Court clerk d. Court reporter