Costs move from work-in-process to finished goods

Assignment Help Accounting Basics
Reference no: EM131757704

1. All of the following items can influence the schedule for production of goods except which one?
a. Time constraints
b. Batch size
c. Specifications in the route sheet and bill of material
d. All of the above can influence the production schedule

2. Costs move from Work-in-process to Finished Goods occurs with the first move ticket. True or False

3. During which phase the batch processing conversion cycle do you record the cost of what is work in process and what was completed and moved to finished goods?
a. Plan and control production
b. Maintain inventory control
c. Perform cost accounting
d. Perform production operations.

4. During which phase pf the batch processing conversion cycle do you determine what you have to make, how much material you need and the schedule of production?
a. Perform cost accounting
b. Perform production operations
c. Plan and cost production
d. Maintain inventory control

5. Match the documents with their correct descriptions ( 1. Bill of Material ; 2. Materials requisition ; 3. Move ticket ; 4. Route ticket
a. Shows the production path that a particular batch follows during manufacturing
b. Specifies the type and quantity of raw materials and subassemblies used for each until of a finished product.
c. Authorizes the storekeeper to release materials into the production process
d. Records work done in each work center and authorizes movement from one center to another.

Reference no: EM131757704

Questions Cloud

How does the history of corrections relate to corrections : How does the history of corrections relate to corrections today? What can we learn from our past?
Debt or additional trade credit : If the company could receive the funds from a bank at a rate of 7.3%, interest paid monthly, based on a 365-day year, what would be the effective cost.
Outstanding on its cash conversion cycle : Winston Inc. is trying to determine the effect of its inventory turnover ratio and days sales outstanding on its cash conversion cycle.
What are her risk odds for a deal : Risk odds: Wendy adheres to the delta property and has risk odds of 2:1 for a deal where she could win or lose $100.
Costs move from work-in-process to finished goods : Costs move from Work-in-process to Finished Goods occurs with the first move ticket
The inmate population on a daily basis : What three skills do you possess that would help you manage the inmate population on a daily basis?
Find the value of the deal with no clairvoyance : The difference between the value of the deal with free clairvoyance and the value of the deal with no clairvoyance is greatest when p is approximately 0.87.
Discuss the role of the advanced practice nurse : Discuss the role of the advanced practice nurse as an interdisciplinary research collaborator and member of the interdisciplinary team obligated
Discuss activity-based costing system : Jones recently implemented an activity-based costing system and had determined that overhead can be broken into three overhead pools

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd