Acct 505 quiz 1 week 2 - Study guides, Class notes & Summaries

ACCT 505 WEEK 2 QUIZ 1

ACCT 505 QUIZ 1 WEEK 2

ACCT 505 QUIZ 1 WEEK 2

ACCT 505 QUIZ 1 WEEK 2

ACCT 505 WEEK 2 QUIZ 1 1. TCO F) Computing unit product costs involves averaging in: Job-Order Costing Process Costing A Yes No B Yes Yes C No Yes D No No (Points : 5) Choice A. Choice B. Choice C. Choice D. 2. (TCO F) Luft Company uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below: Units Percent Complete with respect to Conversion Beginning work in process inventory 11,000 9...

ACCT 505 WEEK 2 QUIZ 1 1. TCO F) Computing unit product costs involves averaging in: A B C D Job-Order Costing Yes Yes No No Process Costing No Yes Yes No (Points : 5) Choice A. Choice B. Choice C. Choice D. (TCO F) Luft Company uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below: 2. Units Beginning work in process inventory Started in production during June Ending work in...

1. Question : (TCO F) For which situation(s) below would an organization be more likely to use a job-order costing system of accumulating product costs rather than a process costing system? A steel factory that processes iron ore into steel bars A factory that processes sugar and other ingredients into black licorice A costume maker that makes specialty costumes for figure skaters All of these Ques custom furniture manufacturing. oil refinin...

ACCT 505 QUIZ 1 WEEK 2 1. Question : (TCO F) For which situation(s) below would an organization be more likely to use a job-order costing system of accumulating product costs rather than a process costing system? Student Answer: A steel factory that processes iron ore into steel bars A factory that processes sugar and other ingredients into black licorice A costume maker that makes specialty costumes for figure skaters All of these Instructor Explanation: Chapter 3 Points Received: ...

ACCT 505 WEEK 2 QUIZ 1

ACCT 505 QUIZ 1 WEEK 2