Compare and contrast process costing and job costing using your
own words (e.g., definition, cost objects, & cost flows).
Answers
Process costing and job costing are two methods used by companies to determine the cost of their products or services. While they both aim to allocate costs, there are significant differences between the two.
1. Definition:
Process costing is a costing method used when products or services are produced in a continuous, repetitive manner. It is commonly used in industries such as manufacturing or chemical processing. On the other hand, job costing is used when products or services are unique or custom-made for each customer, such as in construction or consulting.
2. Cost Objects:
In process costing, the cost object is the process or department. The costs incurred in each process, such as materials, labor, and overhead, are accumulated and allocated to the products passing through that process. In job costing, the cost object is the individual job or project. The costs incurred for each job, including direct materials, direct labor, and overhead, are tracked and assigned to that specific job.
3. Cost Flows:
In process costing, costs flow through multiple departments or processes. Each process adds value to the product, and the costs associated with each process are added to the product's cost. The costs incurred in the initial process are transferred to the next process, and this continues until the final product is completed. In job costing, costs are directly attributed to each specific job. The costs incurred for materials, labor, and overhead are directly charged to the job and do not flow through different processes or departments.
To summarize, process costing is used when products or services are produced in a continuous, repetitive manner, and costs flow through multiple processes. Job costing, on the other hand, is used for unique or custom-made products or services, and costs are directly attributed to each specific job.
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Related Questions
Determine whether each good is a normal good or an inferior good for the average consumer.a. For most consumers, the newest iPhone is ___ good.
b. For most consumers, a 10-year-old used car is ___ good.
c. For most consumers, dental services are ___ good.
Answers
An inferior good, in a contrast to normal goods, for which the opposite is observed, is one whose demand declines when consumer income grows (or increases when consumer income decreases).
The demand for normal items increases as consumer income increases.
In this sense, inferiority isn't a verdict on the value of the good; rather, it's an observable truth related to affordability.
Generally speaking, these products are economical and serve their job satisfactorily; however, as more expensive alternatives that provide greater pleasure become available, the use of subpar products declines. Therefore, there are direct connections between socioeconomic status and inferior commodities. Due to the aforementioned observable inferiority, people with limited incomes tend to favor poorer things.
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in a lease contract, the tenant is more formally referred to as the:
Answers
In a lease contract, the tenant is more formally referred to as the lessee. (Option B)
The lessee is the individual or entity who enters into the lease agreement with the lessor, who is the owner or landlord of the property. The lessee is the party who obtains the right to use and occupy the property for a specified period of time in exchange for payment of rent. As the lessee, they have certain rights and responsibilities outlined in the lease agreement, such as adhering to the terms and conditions, paying rent on time, and maintaining the property in accordance with the agreed-upon terms.
In conclusion, understanding the terminology and roles associated with various contracts and processes is essential for effective management and decision-making. In the context of a lease contract, the tenant is more formally referred to as the lessee. This distinction is important as it clarifies the rights, responsibilities, and obligations of the party occupying the property. By correctly identifying the lessee as the tenant, individuals can navigate lease agreements with clarity and ensure compliance with the terms and conditions outlined in the contract.
Therefore, option B) Lessee accurately identifies the tenant or occupant in a lease contract, distinguishing them from the lessor or landlord who owns the property being leased.
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The complete question is: In a lease contract, the tenant is more formally referred to as the:
A) lessor.
B) lessee.
C) agent.
D) benchmark.
Desiree currently works as a manager of an electronics store earning an annual salary of $50,000. She noticed an internal job opening for a regional manager that pays $100,000 salary, but an MBA is required for consideration. The cost for a full-time MBA program in two years is $60,000. What is her opportunity cost for attending graduate school, without consideration for time value of money
Answers
The opportunity cost for Desiree attending graduate school can be found to be $160,000.
How to find the opportunity cost ?Desiree's opportunity cost for attending graduate school is the amount of money she would earn if she continued working instead of going to school. In this case, she would earn $50,000 per year for two years, for a total of $100,000.
She would also have to pay $60,000 for tuition, bringing her total opportunity cost to $160,000:
= 60, 000 + 100, 000
= $ 160, 000
Therefore, Desiree's opportunity cost may be offset by the higher salary she would earn in the future.
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Which of the following approaches to value involves the process of developing an opinion of value by using sales of similar properties to estimate the value of the subject property? Sales comparison approach
Answers
The sales comparison approach is one of the approaches to value that involves the process of developing an opinion of value by using sales of similar properties to estimate the value of the subject property.
This approach compares the subject property to similar properties that have recently sold in the same area and uses the sale prices of those properties as a guide to estimate the value of the subject property.
Factors such as location, size, condition, and features of the properties are considered in the comparison. The sales comparison approach is also known as the market data approach or the comparable sales approach.
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Determining Liquid Assets and Current Liabilities. Based on these items, what is the total of the (a) liquid assets and (b) current liabilities?
Checking account balance $860
Retirement account balance $57,000
Credit card balance $117
Coin collection $450
Savings account balance $2,675
Current student loan payment due $220
Investment account balance $8,000
Mortgage $178,000
Answers
2. A
3. B
4. A
5. A
6. B
7. A
8. B
(a) Liquid assets = Checking account balance + Savings account balance = $860 + $2,675 = $3,535
(b) Current liabilities = Credit card balance + Current student loan payment due = $117 + $220 = $337
Question 3
Suppose that Mr. Juice requests that Wonderland, from the previous problem, offer him an interest rate of 2.0%. To make this work, Juice promises to put up collateral worth $X. In order to make Wonderland willing, what does X need to be? a. $680 b. $715 c. $1.331 d. $1.498
Answers
In order to make Wonderland willing to offer an interest rate of 2.0%, Mr. Juice needs to provide collateral worth $3,236,836.78. The answer is not listed among the given options.
To determine the value of X, we need to consider the present value of the cash flows associated with the loan. Mr. Juice is requesting an interest rate of 2.0% from Wonderland. This implies that the interest rate used to discount the cash flows is 2.0%.
Based on the information provided in the previous problem, the annual cash flows associated with the loan are as follows:
Year 1: $100,000
Year 2: $100,000
Year 3: $100,000
Year 4: $1,000,000
To calculate the present value of these cash flows at a discount rate of 2.0%, we can use the formula for the present value of an annuity:
PV = C * (1 - (1 + r)^(-n)) / r
Using a financial calculator or spreadsheet, we find that the present value of the cash flows is approximately $3,236,836.78.
Therefore, in order to make Wonderland willing to offer an interest rate of 2.0%, Mr. Juice needs to provide collateral worth $3,236,836.78. The answer is not listed among the given options.
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How much is it to start a buissness?
Answers
Answer:the average cot to start a business is 30,000
Explanation:
Select the education or qualification that is best demonstrated in each example. Freda interviews a famous local athlete on a television news show. Essie gets a four-year college degree in journalism. Lester creates a chart mapping out all the news stories a newspaper will publish over the next week. Ramon identifies sources of information and sorts out facts.
Answers
Answer:
1. communication skills 2. bachelors degree 3. planning and organizational skills 4. research skills
Explanation:
took the test
Answer:here’s the answer for this question
Explanation:edge2023
Help needed asap!!! Thank you!
How Rivian has recently suffered from the negative effects of
RBP(relative bargaining power) both downstream and upstream?
Answers
Rivian has experienced negative effects of relative bargaining power (RBP) both downstream (from buyers) and upstream (from suppliers), resulting in challenges such as lower prices, reduced profitability, and limited supply availability. To address these effects, diversifying the customer base, seeking alternative suppliers, and negotiating favorable agreements are potential strategies.
Rivian has recently experienced the negative effects of relative bargaining power (RBP) both downstream and upstream. Downstream refers to the bargaining power of buyers, while upstream refers to the bargaining power of suppliers. Let's explore each of these situations:
1. Downstream: Rivian's buyers may have increased their bargaining power, leading to negative effects. For example, if Rivian's customers have multiple alternative options, they can negotiate lower prices, better terms, or even switch to a competitor. This can reduce Rivian's profitability and market share.
2. Upstream: Rivian's suppliers may have increased their bargaining power, also resulting in negative effects. When suppliers have more power, they can demand higher prices, better payment terms, or limited supply availability. This can increase Rivian's production costs, reduce profitability, and hinder its ability to meet customer demand.
To address these negative effects, Rivian could consider various strategies such as diversifying its customer base, seeking alternative suppliers, negotiating favorable agreements, or developing strong relationships with key customers and suppliers. These strategies can help mitigate the negative impacts of RBP both downstream and upstream.
In conclusion, Rivian has faced the negative effects of RBP both downstream and upstream. Understanding and managing these effects are crucial for Rivian to maintain its competitiveness and profitability in the market.
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An emotional response that can take various forms such as feelings of regret, fear, or anxiety is:
A) Saturday-morning syndrome
B) buyer's high
C) buyer's remorse
D) closing reluctance
E) closing reserve
Answers
The emotional response that can take various forms such as feelings of regret, fear, or anxiety is buyer's remorse (option C). Buyer's remorse refers to the feelings of regret, anxiety, or unease that a person may experience after making a purchase.
It typically arises when a buyer questions or doubts their decision and may be accompanied by thoughts such as "Did I make the right choice?" or "Should I have spent my money differently?"Buyer's remorse can stem from a variety of factors, including a perceived discrepancy between the expectations and the actual experience of the product or service, concerns about the financial impact of the purchase, or the fear of making a wrong decision. It is a common phenomenon that occurs across various purchase situations, ranging from small everyday purchases to significant investments.
The emotional response of buyer's remorse can manifest differently for different individuals and can be influenced by factors such as the significance of the purchase, personal financial circumstances, and individual predispositions. Marketers and businesses often strive to address and alleviate buyer's remorse by providing clear product information, offering return or refund policies, and ensuring positive customer experiences to minimize the likelihood and intensity of these negative emotions.
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In the context of the constant growth stock valuation model, if a firm’s expected growth rate of earnings and dividends increases (other factors held constant) which of the following should occur. A. the expected return should increase B. the stock price should increase C. the required return should increase D. the stock price should decrease E. the dividend yield should increase
Answers
In the constant growth stock valuation model, if a firm's expected growth rate of earnings and dividends increases (while other factors are held constant), the stock price should increase.
According to the constant growth stock valuation model, also known as the Gordon growth model or dividend discount model (DDM), the value of a stock is determined by its expected future dividends and the required rate of return. When the expected growth rate of earnings and dividends of a firm increases, it implies that the firm is expected to generate higher future earnings and distribute higher dividends. As a result, this positive expectation of increased future cash flows makes the stock more attractive to investors.
In the constant growth stock valuation model, the stock price is directly influenced by the expected dividends and the required rate of return. If the expected growth rate of earnings and dividends increases, while other factors remain constant, the projected future dividends will be higher, which should lead to an increase in the stock price. Therefore, the correct answer is B. The stock price should increase when a firm's expected growth rate of earnings and dividends increases in the constant growth stock valuation model.
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___ should not be included on the resume
references
white space
hobbies
or All the Above
Answers
Answer:hobbies
Explanation:
Select the correct location on the image.
Which box on a W-4 notes an employee's filling status?
Answers
Box number 3 on a W-4 notes an employee's filling status?
What is a W-4?
An IRS form known as a W-4, also known as a "Employee's Withholding Certificate," instructs employers how much tax should be deducted from each employee's paycheck. Employers utilize the W-4 to calculate some payroll taxes and remit the taxes on behalf of employees to the IRS and the state (if applicable).
If your employer already has a copy of your W-4 form on file, you do not need to fill one out again. Additionally, you are not required to complete a new W-4 annually. But you'll probably need to complete a new W-4 if you start a new employment or wish to change the withholdings at your current position. In either case, it's a good justification for reviewing your withholdings.
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Loft Industries sells roof trusses to contractors and builders and is currently looking for honest feedback on its services. However, in the past, most of its efforts to procure feedback from customers did not yield any meaningful data. According to the marketing managers of Loft Industries, feedback was more polite than honest. Which of the following contact methods should Loft Industries most likely use to maximize its chances of receiving honest and impersonal feedback?
A) online focus groups
B) telephone interviews
C) mail questionnaires
D) group interviews
E) personal interviews
Answers
Answer:
The correct answer is C. Mail questionnaires.
Explanation:
Given that the company needs honest and sincere feedback regarding the quality of its products, and that its clients have so far not given the desired answers due to their education and lack of critical focus as a way to avoid hypothetical conflicts, the correct way to obtain honest and impersonal feedback regarding the quality of their products would be through mail questionnaires.
This is so because through these questionnaires, direct contact between the members of the company and its clients would be avoided, making the criticism or assessment much less personal for the client, which could be expanded without fear of possible reproach on the part of the members of Loft Industries. In this way, a space of sincere expression would be generated that would allow an objective assessment on the part of the clients.
im on od plz hurry
Background info-----You're a member of a small group that has been working on an important company project for the last year, and you have been assigned to give the final presentation. You really do not like giving presentations because of your stage fright, but you agree to make the visual aids and write a script for another group member who does not mind giving the actual talk.
Directions-----Write a five-minute presentation speech using the techniques and strategies you have learned, and make some visual aids to accompany the talk. You can make a PowerPoint or some charts or drawings, but whatever you do, make sure it follows the guidelines you have learned. Make sure that you can digitize your work so that you can send it to your other group members and to your teacher.
Answers
Answer:
this is my 5 minute presentation
Explanation:
i have learned how to communicate and how to better my self when working as a team when i am team leader it seams easier for me to controll my team because i do not boss them around harshly if they start to get verry wore out i also give them a talk to boost their motivation to get the job done quicker i feel like when i am out in the real world it will be a lot easier to lead a team the right way and get everything done with all the knolage i have recived i know if im messing around then the rest of my team is going to be messing around in order for my team to act right i have to act right so my team will follow all orders and commands when givin and they will not have any problem with these orders
Fill in the blank: Measuring your website’s authority comes down to assessing the volume and quality of the ____________.
Answers
The measurement of the website’s authority comes down to assessment of the volume and quality of the website's backlinks
Simply put, a backlink refers to series of link from one website which leads to another website.
The number and quality of a website's backlink tells about the quality of the website.
Hence, the measurement of the website’s authority comes down to assessment of the volume and quality of the website's backlinks
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why is training important for a good job?plz answer
Answers
Advantages of training
Increased job satisfaction and morale among employees.
Increased employee motivation.
Increased efficiencies in processes, resulting in financial gain.
Increased capacity to adopt new technologies and methods.
Increased innovation in strategies and products.
A strategy of ________ will be most beneficial for a firm to enhance its overall corporate performance.
Answers
Answer:
A strategy of related-linked diversification will be most beneficial for a firm to enhance its overall corporate performance.
What is called competition?
Answers
Business competition is an argument between companies that offer comparable goods or services or that aim their marketing efforts at the same consumer base. Businesses compete with one another to attract and keep customers, boost sales, and expand their market share.
High levels of business rivalry can be a sign of a thriving, profitable market and frequently raise the standard of all goods and services offered by motivating businesses to upgrade their operations, meet the wants of their clients, and strengthen their client connections.
Competition among brands and enterprises frequently spurs them to meet client needs more efficiently than rivals. This encourages businesses to better understand the needs of their target market and adjust their goods to meet those needs.
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The data show the
number of railroad crossing accidents for the 50 states
of the United States for a specific year. Construct a
histogram, frequency polygon, and ogive for the data.
Comment on the skewness of the distribution. (The data
in this exercise will be used for Exercise 14 in this
section.)
Class limits Frequency
1–43 24
44–86 17
87–129 3
130–172 4
173–215 1
216–258 0
259–301 0
302–344 1
Answers
Answer:
I hope this helps
Explanation:
216-258 0
List the sourcesvof obtaining inform related to foriegn employment ..
Answers
Answer:
not having any idea.........
Explanation:
⚘ Correction :List the sources of obtaining information related to foreign employment.⚘ Answer :Different sources of information are available for foreign employment. The institutions and individuals involved in foreign employment - related work and their web sites and training institutions and their publications provide information on foreign employment. Some of the sources of obtaining information related to foreign employment are mentioned below with description :
✎ Noticeboards : Manpower companies put vacancy announcement notice on the noticeboards as demanded by foreign employers. The following details are included in the demand paper and the same are stated in the notice.
Name of a countryName of companyNumber of vacancyMinimum qualificationMonthly salaryContract periodFacilitiesRequired skills✎ Booklets : Information can be obtained from booklets published by concerned authorities and institutions. Required skills , qualification , training , ability , post etc. are published in the booklets.
✎ Institutions or individuals involved in foreign employment : Foreign employment may directly contact the government offices to demand required workers. Therefore , we can contact such offices to obtain information.
✎ Publication of training institutions : Publications of training institutions , which provide employment - oriented training can be reliable sources of information for foreign employment.
✎ Web sites : Web sites of employers are reliable sources of information for foreign employment. Interested candidates can apply for the job through the Internet or web sites. Physical contact is not necessary for selection procedures.
✎ Newspapers and magazines : Newspapers are very popular means of communication. They are published daily , weekly , fortnightly and monthly basis. Notices on foreign employment are published in such newspapers and magazines. Clear details are included in the notices .
✎ Radio , F.M and Television : Radio , F.M and television disseminate information immediately to public. These are very popular and important means of communication. They broadcast different entertaining programmes , news , information etc. They also broadcast information on foreign employment.
✎ Public relation : Public relation is another source of information on foreign employment. We can obtain information through individuals , symposiums , meetings , interaction programmes etc.
Hope I helped !
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Match each security policy on the left with the appropriate description on the right. Each security policy may be used once, more than once, or not at all.
Provides a high-level overview of the organization's security program. -- Organizational Security Policy
Defines an employee's rights to use company property. -- Acceptable Use Policy
Identifies the requirements for credentials used to authenticate to company-owned systems. -- Password Policy
Identifies a set of rules or standards that define personal behaviors. -- Code of Ethics
Sets expectations for user privacy when using company resources. -- Acceptable Use Policy
Specifies that user accounts should be locked after certain number of failed logins attempts. -- Password Policy
Answers
The security policies that are being described in the question are the Acceptable Use Policy and the Password Policy. The Acceptable Use Policy sets expectations for user privacy when using company resources. This policy outlines what is acceptable and what is not when it comes to using the company’s resources. It covers areas such as internet usage, email, and social media. The purpose of this policy is to ensure that employees understand their responsibilities when using company resources and to protect the company’s confidential information.
The Password Policy, on the other hand, specifies that user accounts should be locked after a certain number of failed login attempts. This policy outlines the requirements for creating strong passwords and the frequency at which they should be changed. The purpose of this policy is to protect the company’s information from unauthorized access. By locking accounts after a certain number of failed login attempts, the company is able to prevent brute-force attacks and unauthorized access to their systems.
Both policies are important in ensuring the security of the company’s information. The Acceptable Use Policy ensures that employees understand their responsibilities when using company resources and the Password Policy ensures that only authorized individuals have access to the company’s systems. It is important for companies to have clear and concise policies in place to protect their confidential information and ensure the security of their systems.
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the estimated use the company expects to obtain from an asset before disposing of it is referred to as the
Answers
The estimated use the company expects to obtain from an asset before disposing of it is referred to as the useful life.
The useful life of an asset is an accounting estimate used to estimate the number of years an asset is likely to be used for revenue generation in a cost effective manner for the benefit of the company. Useful life is used in the calculation of the deprecation expense of an asset.
Determinants of the useful life of an asset
Frequency with which the asset is used. The more an asset is used, the lower its useful life. The age of the machine when it was purchased. The quality of maintenance of the asset.A similar question was answered here: https://brainly.com/question/17267874
What is the total amount of interest Shelby will pay for the car loan? How many more years will it take Shelby to pay off her loan?.
Answers
Based on the information given in the table, the amount of interest that will be paid is $2478.58.
From the complete question, it be be noted that the payment schedule for the first year is given as $7000.
Therefore, the first year interest payment for Shelby will be:
= $9478.58 - $7000
= $2478.58
Also, the number of years required to pay the loan will be 1 year.
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Answer:
What is the total amount of interest Shelby will pay for the car loan?
✔ $2478.58
How many more years will it take Shelby to pay off her loan?
✔ 1
Explanation:
flora Quinton is buying a new air compressor for her auto repair shop. it sells for $1,299. She makes a down payment of $199 and finances the remainder. How much does she finance?
Answers
Answer:
$1,100
Explanation:
flora Quinton is buying a new air compressor for her auto repair shop. it sells for $1,299. She makes a down payment of $199 and finances the remainder. How much does she finance?
1,299 - 199 = 1,100
When a site is unsafe, it means a. Your personal information may be used in ways you do not want c. Permission to use that site at school is always allowed b. That site is okay to visit often d. All of the above Please select the best answer from the choices provided A B C D
Answers
Answer:A, Your personal information may be used in ways you do not want
Explanation:
If it is a unsafe site than there for your personal information can go places you do not want them to.
When a site is unsafe, it means your personal information may be used in ways you do not want. Thus, option 'A' is the correct option.
What does it mean when a website is unsafe?External connections to websites with phishing, malware, or unwanted software are known as unsafe domains. Phishing is when a website imitates another one in an effort to fool visitors into divulging personal or financial information. When you visit an insecure website, you run the risk of having your personal information compromised and/or having malicious malware installed on your system.
Additionally, you can fall prey to a phishing attack, or someone else might watch your activity or use your resources for their own gain. If the content you're seeking to view is harmful or misleading, a warning will appear. These websites are frequently referred to as phishing or virus sites. If you clicked on a phishing link, the first thing you should do is immediately unplug your device from the internet.
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Question Help A company is convinced of the benefits of exercise for its workers. Healthy employees take fewer sick days and tend to be more focused on their job. In addition, exercise enhances the workers' positive moods. The company is so persuaded of the value of exercise that it has adopted a new policy: Moving forward, all workers will be allowed to exercise during the work day for up to three hours per week. The reasoning behind the company's exercise policy assumes that ________.
Answers
Answer:
fhehgtjgkfgjgddfedsswdefrrtryjyrtjhdrsaswybnuyterfert
Explanation:
egy44
Here's the revenue and expenses for the month. Calculate whether Mia had a profit or loss.
MAY ACCOUNTS
CHECKING
$860.00
REVENUE
FIXED EXPENSES
VARIABLE EXPENSES
CARD PURCHASE
$300
SAVINGS
$1,006.68
DOG FOOD
CAT FOOD
PET TREATS
PET SUPPLIES
$3,650
$2,850
$1,650
$1,800
RENT
$2,000
SALARIES
$2,000
UTILITIES
$1,000
PRODUCT STOCK $4,000
TOTAL
$9,950
TOTAL
$9,000
TOTAL
$300
ENTER MIA'S TOTAL PROFIT/LOSS FOR THE MONTH IN THE BOX BELOW, THEN CLICK SUBMIT.
$
SUMIT
Answers
Answer:
Loss
Explanation:
Because she started with 860.00 then ended with 300
Answer:
350
Explanation:
I guessed
Which of the following statements is a strong reason for giving credit to sources of data in a formal business doccument
Answers
Answer:
It shows you have done solid research to back up your conclusions.
Multiple choice options for this question are as follows: online source
A). It shows you have done solid research to back up your conclusions.
B). Readers of a business document do not pay attention to sources
C). Giving credit is easier than treating others' ideas as your own
D). It is a requirement of MLA and APA styles
Explanation:
Giving credit to your sources is a phrase that refers to Referencing or citing the source of your information. It is important to the reader or user of the document because they can always go back and verify the data's accuracy. Referencing also leaves a trail that can be used to see the views and opinions of other business people or researchers .
Giving credit to your sources in a formal business document shows you took the time to research the subject matter. It gives the impression that you can relate your ideas to the views of other professionals in the industry.
Answer:
A). It shows you have done solid research to back up your conclusions
Explanation:
In Citation when you use the exact words from a source, you are ______________________.
Answers
Answer:
Quoting
Explanation:
or something along those lines