The Pom II requires 2 processor chips, 16 memory chips, and 20 vacuum tubes, while the Pom Classic requires 1 processor chip, 4 memory chips, and 40 vacuum tubes. Microbucks has in stock at the beginning of the year 500 processor chips, 6,000 memory chips, and 9,000 vacuum tubes at the Pom II factory, and 150 processor chips, 2,000 memory chips, and 20,000 vacuum tubes at the Pom Classic factory. It manufactures 50 Pom IIs and 50 Pom Classics each month. Microbucks Computer Company, besides having the stock mentioned above, gets shipments of parts every month in the amounts of 110 processor chips, 1,000 memory chips, and 3,000 vacuum tubes at the Pom II factory, and 60 processor chips, 1,000 memory chips, and 2,200 vacuum tubes at the Pom Classic factory. (a) What will the company's inventory of parts be after 6 months? Processor chips Memory chips Vacuum tubes Pom II factory Pom Classic factory (b) When (if ever) will the company run out of one of the parts? O The company will run out of parts in 6 months. O The company will run out of parts in 12 months. O The company will run out of parts in 18 months. O The company will run out of parts in 24 months. O The company will never run out of parts.

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Process Costing

Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.  

Job Costing

Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.

ABC Costing

Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.