Regarding the budgeted cost for direct materials

Assignment Help Financial Accounting

Reference no: EM13790612

Which of the following statements is true regarding the budgeted cost for direct materials?

a. It cannot be determined if a company uses a just-in-time inventory system.

b. It must be determined after materials are purchased for the year.

c. It would consist of two components - a standard quantity and a standard price.

d. It would be used on a static budget but not a flexible budget.

Reference no: EM13790612

Questions Cloud

Construction accounting and financial management : Determine the marginal tax rate for a corporation whose federal tax rate is 34% and whose state tax rate is 11%. Explain the rationale for having a separate cost code for site concrete-labor and site concrete-concrete as is the case in Figure 2-6 fro..

Standard costs with its job order cost accounting system : A Jorgensen Corporation uses standard costs with its job order cost accounting system. In January, an order (Job No. 12) for 1,900 units of Product B was received. Prepare the January 2014 income statement for management. Assume selling and administr..

Difference in cash flow and deductibility for tax purposes : Calculate the annual difference between the cash flow and the deductibility for tax purposes for the purchase of a $60,000 dump truck. The truck is depreciated using the half-year convention and 200% declining-balance. The truck is purchased outright..

Calculate the net present value for the dump truck : Your company is looking at purchasing a new dump truck for $70,000. The dump truck has an hourly operation cost (including operator) of $45.00 per hour and a useful life of five years. At the end of five years the truck has a salvage value of $10,000..

Regarding the budgeted cost for direct materials : Which of the following statements is true regarding the budgeted cost for direct materials?

Disadvantage of decentralization : Which of the following is a disadvantage of decentralization?

Advantage of decentralization : Which of the following is not an advantage of decentralization?

Involving accounting information software applications : Highlight the three most important technology concepts involving Accounting Information Software applications that you learned and how these concepts improved your knowledge of technology. Use examples for each one.

Using the accrual basis of accounting : General Electric's revenue for March is $75,000, but only $15,000 cash is collected. Expenses for March are $41,000, of which $28,000 is paid in cash. During March, additional capital stock is issued in exchange for $5,000 cash. Using the accrual bas..

User Account

All Pages