WGU D101

WGU D101 Cost and Managerial Accounting Questions & Answers What is a price taker? -A company that has to accept the price that the market sets for a good. They have no influence over setting the price. What is a price maker? -a firm possessing the power to set the price within the market. They still need to track all costs in order to make sure they are making an adequate return. What is the major purpose and use of job order costing? a. To create a system that tracks both manufacturin...

What is a price taker? - A company that has to accept the price that the market sets for a good. They have no influence over setting the price. What is a price maker? - a firm possessing the power to set the price within the market. They still need to track all costs in order to make sure they are making an adequate return. What is the major purpose and use of job order costing? a. To create a system that tracks both manufacturing and period costs and assigns both to products b. To create ...