Which of the following is TRUE regarding the costs of toxic waste disposal, reclamation, and remediation that result from joint production processing? Select one: a. Toxic waste costs are a life-cycle cost that should be added to joint production costs prior to allocation. b. Disposal costs should be expensed, other costs charged to cost of goods sold. c. Toxic waste costs are treated in the same manner byproduct costs. d. All toxic waste costs should be expensed as do not form part of the product. e. The costs should be valued in inventory at net realizable value.

If the factory operations and selling and administrative offices are housed in the same building, what would be a good cost allocation basis to use in dividing the depreciation expense between the two areas? Why would it be important to make this allocation?

The cost of inventories shall comprise all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. Which of the following cost shall be included in the cost of inventories?     a. Administrative overheads that do not contribute to bringing inventories to their present location and condition. b. Abnormal amounts of wasted materials, labor or other production costs. c. Storage costs unnecessary in its production process. d. Import duties and other taxes, transport, handling and other costs directly attributable to the acquisition of finished goods, materials and services.

Which of the following statements is true about byproduct costing?    Byproduct costs are allocated to the period in which they are produced    Byproduct costs are expensed in the period incurred    Byproduct costs are treated as a reduction of the main product's cost    Byproduct costs are allocated to the main product

Research and development activities may include (a) personnel costs, (b) materials and equipment costs, and (c) indirect costs. What is the recommended accounting treatment for these three types of R&D costs?

Describe cost depletion and percentage depletion. Whyis the percentage depletion method permitted?

Total Cost of Ownership (TCO) is one way to account for costs associated with a specific infrastructure. This method does not include additional costs such as disposal costs—the cost to get rid of the system when it is no longer of use. What other additional costs might be of importance in making total cost calculations?

In the manufacture of cans of beans, all the following would likely be allocated to a cost object except: Select one: a. beans. b. supervisory labor. c. utilities. d. depreciation on equipment used to can multiple products.

In a make or buy decision, the relevant costs include variable manufacturing costs as well as A. Depreciation costs  B. General office cost C. Avoidable fixed costs  D. Factory management cost

Which of the following would be an acceptable measure of activity for a material handling activity cost pool? options       Number of material moves Weight of material moved A Yes Yes B No Yes C Yes No D No No