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Indicate whether each of the following statements is true or false. JIT AND ABC
1. Continuous process manufacturing often results in a reduction of inventory.2. Companies that use just-in-time processing complete and store finished goods all the time to meet rush orders from customers.3. A major benefit of just-in-time processing is production cost savings from the improved flow of goods through the processes.4. An ABC system is similar to traditional costing systems in accounting for manufacturing costs but differs in regard to period costs.5. The primary benefit of ABC is more accurate and meaningful costs.6. In recent years, the amount of direct labor used in many industries has greatly increased and total overhead costs have significantly decreased.
At November 1, 2010, Myers Enterprises reported a cash balance of $60,000. During the month, Kern collected cash of $20,000 and made disbursements of $35,000. At September 31, 2010, what is the cash balance?
The City of Martinville had the following pre-closing account balances in its General Fund as of June 30, 2012. Debits and credits are not separated; each account had its "normal" balance.
Under the allowance method of recognizing uncollectible accounts, the entry to write off an uncollectible account
good internal controls are essential for effective and efficient operations of an enterprise. the downside is excessive
a variety of depreciation methods are used to allocate the cost of an asset to all of the accounting periods benefited
question 30 darth company is considering the purchase of new heavy construction equipment that will cost 2000000 and
Discuss the qualitative concept of comparability. In your opinion, would the financial statements of companies operating in one of the foreign countries listed above be comparable to a U.S. company's financial statements? Explain.
company has three departments. data for the most recent year is presented belowdept. c dept. a dept. tsales 4000 1920
Using first-in first-out method of computing equivalent units and assigning product costs. beginning WIP (10% complete), 3,000 units, $10,000 production costs, Current period production, 20,000 units, 70,240 production costs, ending WIP (85% compl..
a new branch in its first year opened new accounts at a rate of 40 for every 100 customer calls. the total number of
Clinton and Dole had capital balances of $120,000 and $180,000 respectively at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $18,000 and $20,000 respectively,
the alpine company is a swiss subsidiary of an american company and its accounts are included in the u.s dollar
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