Please be specific while answering. Answer should not exceed from 6 line for a single question.no need to write the details. 1. Differentiate between spoiled and defective material, why costing procedure is different for both? 2. Give an example of cost which is a part of unavoidable cost. 3. Why there is a need to identify the standard cost? 4. What type of account as a new account title is maintained is spoiled work process.name only and pass an entry with spoilage of 700 dollars against work in process. 5. Under what situation in spoiled working the loss is: a)charged to FOH b) charged to work in process check_circle

Which of the following would be classified as an external failure cost on a quality cost report? Multiple Choice O Reentering data because of keying errors. Customer returns arising from quality problems. Test and inspection of in-process goods. Rework labor and overhead.

An auditor reviews job cost sheets to test which transaction assertion?a. Occurrence.b. Completeness.c. Accuracy.d. Classification.

Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Which of the following statements regarding activity-based costing (ABC) is NOT correct? a. Under ABC cost centres are replaced by cost pools b. Blanket overhead recovery rates (OAR) are replaced with cost driver rates c. ABC uses one common overhead recovery rate, such as labour hours. d. ABC tackles the problems of absorption costing by adopting a much more accurate way of charging overhead to cost units.

A major disadvantage of using a plantwide overhead rate is the extreme difficulty in gathering the needed information. True or False True False

Overhead costs are overapplied if the amount applied to Work in Process is: O a. None of the given answer is correct O b. equal to estimated overhead. Oc. equal to actual overhead incurred. O d. less than estimated overhead. O e. less than actual overhead incurred. 5 PAGE Jump to... JIZ TWO

Alter's Home Center (AHC) sells renovation and remodeling products to both contractors and individual home owners. One of the services AHC offers is delivery of the purchased products to the customer's work site. Because not all customers take advantage of the delivery service option, ACH adds 10 percent to the cost of the products purchased to cover the delivery cost. A business intern spent the summer at ACH. The intern's assignment was to analyze the delivery service and recommend a better way to charge customers for using it. The intern, who had studied activity-based costing, identified the following activities and the data related to them: Activity Picking order Delivering order Handling complaints Total delivery cost Total order value (before delivery charge) Number of orders Cost Driver Number of items Number of orders Number of complaints The intern selected two customers, who were frequent customers, to use as an illustration of the system: Wagner Remodeling and Burlington…

Please answer with reason for all why the option is correct and why the other options are incorrectPlease answer correct otherwise skip it   4. Which of the following statements is true? An activity measure in activity-based costing expresses how much of an activity is carried out and it is used as the allocation base for assigning overhead costs to products and services. Activity-based management involves focusing on activities to eliminate waste, decrease processing time, and reduce defects. An activity-based costing system is generally more difficult to set up and run than a traditional cost system.   Multiple Choice Statements I and II are true. Statements II and III are true. All of the statements are true. None of the statements are true.

Which of the following is correct with respect to closing out underapplied manufacturing overhead to Cost of Goods Sold versus closing it out to Work- in-Process Inventory Finished Goods Inventoryand Cost of Goods Sold? a Cost of Goods Sold will be lower if the underapplied overhead is closed out by allocating it to the inventory accounts as well as to Cost of Goods Sold. The balance in the Work-in Process account after allocation will be the same under either method None of given answer is correct. d Operating income will be higher if all of the underapplied overhead is closed out to Cost of Goods Sold. e. The balance in the Work-in-Process account after allocation will be lower if the underapplied overhead is closed out by allocating it to all appropriate accounts.