question archive For which of the following businesses would a process cost system be appropriate? a
For which of the following businesses would a process cost system be appropriate? a
Subject:AccountingPrice:2.85 Bought3
For which of the following businesses would a process cost system be appropriate? a. boat repair service b. shampoo manufacturer c. dressmaker d. custom furniture manufacturer 25. The entry to record the flow of direct labor costs into production in a job order cost accounting system is to a. debit Factory Overhead, credit Work in Process b. debit Finished Goods, credit Wages Payable c. debit Work in Process, credit Wages Payable d. debit Factory Overhead, credit Wages Payable 26. Which of the following is not an assumption underlying cost-volume-profit analysis? a. The break-even point will be passed during the period. b. Total sales and total costs can be represented by straight lines c. Costs can be accurately divided into fixed and variable components. d. The sales mix is constant
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option B
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The process cost system is most appropriate for a business for manufacturing is conducted by continuous operations and involves a series of uniform production processes.
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27.
Option C
Debit work in process , credit wages payable
26.
option a .
The assumptions underlying CVP analysis are
1.there is no ending inventory. all goods are sold
2. total sales and cost remains linear throughout the activity.
3. all costs can be segerated into fixed and variable compnent
