Micro Computer Company has set up a toll - free telephone line for customer inquiries regardingcomputer hardware produced by the company. The cost of this toll - free line would be classified aswhich of the following for financial reporting purposes?A. Product costB. Manufacturing overheadC. Period costD. Answers A and B are correctE. Answers B and C are correct

In this question, Micro Computer Company has set up a toll-free telephone line for customer…

Answered: Micro Computer Company has set up a…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter10: Accounting Systems For Manufacturing Operations

Section: Chapter Questions

Problem 2SEQ: Which of the following costs would be included as part of the factory overhead costs of a computer...

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An entrepreneur of a custom sign company is reviewing reports showing the cost of printing machines, supplies, and labor so that she can make comparisons to the revenue being generated. What reports are being reviewed? a) Customer records. b) Financial statements. c) Asset reports. O d) Operation schedules.
Muscat Pharmaceutical Manufacturing Company is a company devoted to manufacturing and exporting of veterinary medicine and veterinary products. Its accounts are prepared in such a way that the revenue can only be recognized after it has been earned. If so, which one of the accounting concepts has been followed by Muscat Pharmaceutical Manufacturing Company? O a. Historical cost concept Ob. Realization concept O C Accrual concept Od. Matching Concept
Largo Company is an engineering consulting business that uses the accrual method of accounting for its services. Mango Company is a manufacturer of nuts and bolts that also uses the accrual method to account for its sales. Each company has a personnel department. Hint: Consider whether the UNICAP rules apply. Regarding how the cost of personnel operations be treated by each of the two companies, label each of the following statements as being either "True" or "False". a. Largo can deduct the costs of the personnel department as these costs are incurred. b. Neither Largo nor Mango are subject to the uniform capitalization rules. Mango is required to allocate a portion of the costs of the personnel department to production and to the ending inventory. C.
Which of the following is not a reason for banks to use activity- based costing? C a. to determine profitability of services provided Ob. to determine service quality c. to determine the amounts charged to customers for services provided Od. all of the above
Able was in charge of purchasing computer equipment for ABC Corporation. Able set up a shell company, used the shell company to purchase used computer equipment, then re-sold that equipment to ABC Corporation at an inflated price. This is an example of: a. A pass through scheme b. A fictitious cost scheme O c. A financial statement scheme O d. A pay and return scheme
Which of the following costs would be included as part of the factory overhead costs of a computer manufacturer? A.The cost of memory chips B.Depreciation of testing equipment C.Wages of computer assemblers D. The cost of disk drives
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Which of the following are examples of expenses for which we cannot use the matching principle? (check all that apply) Group of answer choices -worker salaries -the cost of raw materials used to make the product - the electricity bill for your factory - subscription payments for your company's network security license
XYZ Inc, is a BPO company that carters to different services: call.center.finance, and information technology name a possible indirect cost to be incurred by the company and the activity drivers to use to be able to allocate to each type of service. XYZ Inc, is a BPO company that carters to different services: call.center.finance, and information technology name a possible indirect cost to be incurred by the company and the activity drivers to use to be able to allocate to each type of service. Question XYZ Inc, is a BPO company that carters to different services: call.center.finance, and information technology name a possible indirect cost to be incurred by the company and the activity drivers to use to be able to allocate to each type of service.
Revenue Cycle is:Select one:a. None of the aboveb. A recurring set of business activities and related to the process starting from finalizing product design and finishing off at cost accounting.c. A recurring set of business activities and related data processing operations associated with the purchase of and payment for goods and services.d. A recurring set of business activities and related information processing operations associated with providing goods and services to customers and collecting cash in payment for those sales.
Below is a table showing the various costs incurred by various companies. In each column, indicate the proper classification and explanation of these costs. Write NA if not applicable. Costs Manufacturing (M) or Non-Manufacturing (NM) Direct Materials (DM), Direct Labor (DL) or Factory Overhead (FOH) General and Administrative (GA) or Marketing and Selling (MS) j. Salaries of plant supervisor k. Interest on bank loan l. Property tax on the production plant
Which of the following is NOT a period cost? Select one: O a. manufacturing costs. Ob general and administrative costs. Oc marketing costs. Od. research and development costs. Which of the following is NOT one of the questions management accountants might attempt to help answer in the formulation of strategy? Select one: a. What substitute products exist in the marketplace? Ob. Who are our most important customers? Does the strategy comply with GAAP (Generally Accepted Accounting Principles)? Od. Will adequate cash be available to implement the strategy?

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