Question # 12 A Report a Problem G Revisit Choose the best option All these are advantages of job costing except for this O Evaluate of profit or loss made for each job against the price quoted for t becomes easy O Marginal costing technique can be usefully applied along with this method O It helps the firm to bargain with the customer regarding the price O Using this method, the firm can control the job cost before job completion

Question # 12 A Report a Problem G Revisit Choose the best option All these are advantages of job costing except for this O Evaluate of profit or loss made for each job against the price quoted for t becomes easy O Marginal costing technique can be usefully applied along with this method O It helps the firm to bargain with the customer regarding the price O Using this method, the firm can control the job cost before job completion

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following statements BEST describes an important tax planning opportunity with regard to loss carry overs? Question 5 options: As noncapital loss carry overs have an unlimited carry forward period, only net capital loss carry overs should be used to reduce Taxable Income to zero. As personal tax credits have an unlimited carry forward period, loss carryovers should be used to reduce Taxable Income to nil. Loss carry overs should not be used to reduce Taxable Income to zero as this prevents the application of personal tax credits. Loss carry overs should be used to reduce Taxable Income to zero so that personal tax credits can be applied to trigger a refund of taxes in the year.
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Which one of the following firm is likely to use job costing? A. Courier firm B. Insurance company C. Book publishing company
AIP 9.2 Job-Order and Process Costing LO 1 A management accounting professor was trying to explain the difference between job- order costing and process costing to her class. She pointed out that a job-order costing system is generally used when distinct batches or 'jobs' can be identified. Alternatively, process costing is used for the continual processing of homogenous products. A student 445 suggested another difference between job-order and process costing. He noted that on the one hand, job-order costs are determined at the time the job is being performed by using pre-determined overhead rates. On the other hand, process costs are normally determined at the end of the period based on the number of equivalent units produced and actual overhead costs. What does the timing difference between job-order costing and process costing say about how job-order costs and process costs are used for planning purposes?
Question 9 Which of the following is NOT normally associated with activity-based costing? A Improved decision-making and pricing B Multiple cost drivers C Reduction of non-value-adding costs D Activity cost pools E I do not wish to answer this question. F High direct labour costs relative to manufacturing overhead costs
Match each job design technique to the statement exemplifying that technique. Biological ✓ Perceptual ✓ Motivational ✓ Organic ✓ Mechanistic A. I just finished the Casey project. What should I do now? B. We are required to wear these special belts when we unload the trucks at Target. C. This is the 30th customer I've checked out at Stop & Shop supermarket today. D. We have added enough employees so that we are breaking the human resources function into its own department. Jack will now focus on compensation and benefits, and Jill will conduct the training. Latoya will be responsible for safety and security. E. Here at Intel, we are going to change your job so that you can develop new skills and complete entire jobs by yourself. We're doing this to make the job more meaningful to you and so that you can do the job the way you want to and know how you are doing.
Job Costing• Process Costing• Operation Costing (Hybrid Costing)• Activity-based Costing Based on your chosen costing article, how useful was the cost information to the internal users in the organisation? Discuss with examples from your costing article
nline Services v OS Ticket system My Dispense Academic Calendar My courses Activity-based costing (ABC) LO#5 Activity-based costing (ABC) is a costing model that identifies activities in an organization and assigns the cost of each activity resource to all products and services according to the actual consumption by each: it assigns more indirect costs (overhead) into direct costs. In this way an organization can precisely estimate the cost of its individual products and services for the purposes of identifying and eliminating those which are unprofitable and lowering the prices of those which are overpriced. In a business organization, the ABC methodology assigns an organization's resource costs through activities to the products and services provided to its customers. It is generally used as a tool for understanding product and customer cost and profitability. As such, ABC has predominantly been used to support strategic decisions such as pricing, outsourcing and identification and…
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How can you reduce the risks involved in a job costing?