A report prepared periodically by a processing department, summarizing (1) the units for which the department is accountable and the disposition of those units and (2) the costs incurred by the department and the allocation of those costs between completed and incomplete production, is termed a Oa. manufacturing cost report b. factory overhead production report Oc Od. process cost report c. cost of production report

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The cost of materials used on a specific job is first captured on which source document? Select one: O a. Materials requisition form Ob. Process cost sheet Oc. Labor time ticket Od. Cost driver sheet

In a job order cost accounting system, when goods that have been ordered are received, the receiving department personnel count, inspect the goods, and complete a a.

In process costing, costs are accounted for by a. year. b. process. c. job. d. batch

A manufacturer reports three activities: assembling components into products; product design; and purchase order processing. Determine whether each of the following cost drivers relates to assembly, design, or purchase order processing. Cost Driver 1. Number of design changes 2. Finishing machine hours 3. Number of design hours 4. Number of purchase orders received 5. Number of purchase orders processed 6. Direct labor hours to finish production Activity

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Which of the following statements is Incorrect with regard to the production cost report prepared in a​ company’s first processing​department? A. The cost per equivalent unit represents how much it costs to complete one unit in the department during the period. B. Total costs to account for include product costs in the​department’s beginning work in process inventory and product costs added to its work in process during the period. C. The production cost report assigns costs to units in the​ department’s ending work in process inventory and units completed and transferred out during the period. D. Total equivalent units for a product cost category could never exceed total physical units. Please don't give plagiarised answer thanku

The Cost of Production Report provides info and reports on the production costs charged to that department and the costs allocated to finished goods and to work-in-process. True False

How is activity-based cost allocation useful to management for control and evaluation of the performance of a department? List three points only and briefly discuss them.    Why is it necessary for the cost accountant to determine the percentage of completion in the ending work in process inventory at the end of the period? Briefly explain.