Why is cost accumulation simpler in a process costing system

Assignment Help Accounting Basics

Reference no: EM13131971

1. Why is cost accumulation simpler in a process costing system than it is in a job-order costing system?

Why aren't actual overhead costs traced to jobs just as direct materials and direct labor costs are traced to jobs?

2. Why do companies use a predetermined overhead rate rather than actual overhead costs to apply overhead to jobs?

Would a company ever use both type of systems?

Reference no: EM13131971

Questions Cloud

Information about proof about cardinality : Let A and B be sets. Show that A x B and B x A have equal cardinality by constructing an explicit bijection between the two sets. Then use the following proposition to prove that multiplication is commutative. (Let n, m be natural numbers. Then nx..

What gain must father recognize in 2012 : In 2011, Father sold land to Son for $150,000 cash and an installment note for $450,000 due in 2015. Father's basis was $240,000. In 2012, after paying $27,000 interest but nothing on the principal, Son sold the land for $600,000 cash. As a result..

Estimate relative risk for reduction in the symptom : Generate a 95% CI for the difference in proprotions of particpants reportinga reduction of symptoms between the experimental and placebo groups.

What amount it report as cumulative effect of changing : Vandross Company has recorded bad debt expense in the past at a rate of 1.5% of net sales. In 2012, Vandross decides to increase its estimate to 2%.

Why is cost accumulation simpler in a process costing system : Why is cost accumulation simpler in a process costing system than it is in a job-order costing system?

Alkenes contain double bonds while alkynes contain triple : Alkenes contain double bonds while alkynes contain triple bonds, Naming compounds containing double as well as triple bonds

Probability that selected tv will have less replacement time : Replacement times for TV sets are normally distributed with a mean of 8.2 years and a standard deviation of 1.1 years. Find the probability that a randomly selected TV will have a replacement time less than 5 years.

Proof regarding integers and rationals : Prove the cancellation law for integers: If a,b, c are integers such that ac=bc and c is non zero, then a=b. hint for proof* use the cancellation law: Let a,b,c be natural numbers such that ac=bc and c is non zero, then a=b

Antichains of power set : Would someone be able to explain to me how we would find antichains and chains of a powerset? For example, if we had the power set of 4 - P([4]) then how would we derive the antichains, and symmetric chains?

User Account

All Pages