weighted average method of process costing

Which of the following is not a method of cost absorption? (a) Percentage of direct material cost (b) Machine hour rate (c) Labour hour rate (d) Repeated distribution method

Which of the following quantities is an example of an activity cost driver in activity-based costing? O A. number of direct labour hours O B. number of labour transactions O C. number of machine hours O D. all of the above

f) ‘Process costing is a term used in cost accounting to describe one method for collecting and assigning manufacturing costs to the units produced.’ There are some statements about the process costing: An abnormal loss occurs when expected output exceeds actual output. The scrap value of an abnormal loss is credited to the process account. The allocated cost of an abnormal gain is credited to the process account. The inputs to a process less the normal loss is the expected output. The normal loss in a process is allocated a cost in order to reconcile the costs of inputs and outputs. The FIFO method assumes opening WIP is the first group of units to be completed. Therefore, opening WIP is charged separately to completed production and CPU is based on current period costs.   Required:   Please identify which of the above statements are false and explain the reasons.

What is  the difference between variable costing and absorption costing income statements? a.      Provide a hypothetical income statement in both formats in which the number of units sold is different from the number of units manufactured. b.     Explain the contrast between the two formats.

Which of the following is most likely to be true of the manufacturing overhead costs assigned to a product with relatively low volume and high complexity? O a. An ABC system will assign the same manufacturing overhead costs to the product as a volume- based system. O b. Avolume-based system will assign more manufacturing overhead costs to the product than an ABC system. O c. An ABC system will assign more manufacturing overhead costs to the product than a volume-based system. O d. An ABC system will assign manufacturing overhead costs to the product, while a volume-based system will not. e to search W 11:35 A D A dx ENG 22-05-2021 hp 141 brt se delete home end 96 - backspace num ask lock T 7V 8A 94 home Dg up K enter 5 0 pause ↑ shift 11 end alt ctrl SUt

the concept of a non-linear cost function which is usually used to predict the cost of labor who carries out a repetitive production process is called ...

Under variable costing, which of the following are costs that can be inventoried Select one: O O a. variable manufacturing overhead b. fixed selling and administrative expense c. variable selling and administrative expense d. fixed manufacturing overhead

How would I start a Production Cost Report.  Should I use the refined weighted average method to start or should I use this formula? Units completed / and transferred out + Equivalent units of ending work in process-Materials= Equivalent Units of Production Materials?

When computing the cost per equivalent unit under the wighted-average method of process costing, the cost per equivalent unit for direct material is computed by dividing the total direct-material cost by the total equivalent units. True or False?