When will cost of goods sold will equal the cost of goods manufactured? when work-in-process inventories in the beginning and ending remains the same. when materials inventories in the beginning and ending remains the same. when work-in-process beginning is higher than the work-in-process ending when finished goods inventories in the beginning and ending remains the same. Group of answer choices 1 2 3 4

When will cost of goods sold will equal the cost of goods manufactured? when work-in-process inventories in the beginning and ending remains the same. when materials inventories in the beginning and ending remains the same. when work-in-process beginning is higher than the work-in-process ending when finished goods inventories in the beginning and ending remains the same. Group of answer choices 1 2 3 4

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

?Which of the following is not a step involved in activity-based costing Assign costs to products by multiplying the cost driver rate by the volume of cost driver units consumed by a O .the product .Determine how to reduce the costs of making products by cutting activities .b O Identify the activities that consume resources and assign costs to those activities c O .Compute a cost rate per cost driver unit or transaction .d O
Which of the following statements is true? * A. The traditional approach to costing uses many different cost drivers. B. Costs that are indirect to products are by definition traceable to directly to products. C. Costs that are indirect to products are traceable to some activity. D. All of the above statements are true.
21.Which of the following is correct? a. Total manufacturing costs plus increased in work in process is equals to cost of goods completed b. Total manufacturing costs plus decreased in work in process is equals to cost of goods sold c. Decreased in raw materials inventory plus raw materials purchased is equals to raw materials available for use d. Increased in finished goods inventory is added to cost of goods sold to get the cost of goods manufactured
• The unit cost… a. is the total conversion costs divided by the number of units produced. b. is the total product costs divided by the number of units produced. c. product plus period cost d. is the total prime costs divided by the number of units produced. e. includes period costs.
26- Which one of the following is a carrying cost? a. Cost of manufacturing goods b. Cost of inspecting goods c. Cost of receiving goods d. Cost of obsolescence
Q3
I need the answer as soon as possible
Which of the following represents the cost of jobs completed but not yet sold? O a. Raw Materials Inventory O b. Cost of Goods Sold O c. Work in Process Inventory O d. Finished Goods Inventory O e. None of the given answer is correct
Provide answers to the following just-in-time costing questions. Just-in-Time Costing Question Just-in-Time Costing Answer When are the costs of products recorded? Which inventory accounts are used? Which accounts are used to record manufacturing costs?
Prime cost is? A)Group of answer choices B)indirect materials cost and direct labor cost. C)direct materials cost and direct labor cost. D)direct labor cost and indirect labor cost. E)direct materials cost and indirect labor cost.
Which of the following summarizes the weighted average cost flow assumption? Weighted average assumes that costs flow in the reverse order incurred. O Weighted average assumes that cost flow is allocated by the physical weight of items purchased. O Weighted average assumes that costs flow at an average of the costs available. O Weighted average assumes that costs flow in the order incurred.
The object of the manufacturing account it ? reached to cost of goods sold. prime cost. cost of raw material purchased. cost of goods manufactured no one