Small businesses may also be required to use absorption costing for their tax reporting depending on their type of business structure. A main advantage of absorption costing is that it's GAAP-compliant.4 It's the only method needed if it's what a company prefers to use. ...
What is the purpose of the job cost sheet in a job-order costing system? What are the main differences between job, process, and activity-based costing? What are the differences between Job Order Costing and Process Costing? Which costing system would better account for a unique individual pro...
What is accounting for price level changes? Why is a product that sells for $50 reported in inventory at its cost of $40? Is standard costing GAAP? What is absorption costing? How do you write off a bad account? What is the purpose of the Allowance for Doubtful Accounts?
Based on the above data, what is the absorption costing profit for the month? (2 marks) A. $42,200 B. $44,800 C. $45,160 D. $47,400 如何将EXCEL生成题库手机刷题 > 下载刷刷题APP,拍照搜索答疑 > 手机使用 分享 反馈 收藏 举报 参考答案: D 复制 纠错 举一反三 集散控制系统...
A company uses a standard absorption costing system. The following figures are available for the last accounting period in which actual profit was 6,000 adverse. Sales price variance=7,000 adverse. Fixed cost expenditure variance= 2,000 adverse. What was the standard profit for actual sales in...
Disadvantages of Absorption Costing: As absorption costing emphasized on total cost namely both variable and fixed, it is not so useful for management to use to make decision, planning and control; as the manager’s emphasis is on total cost, the cost volume profit relationship is ignored. The...
What is the purpose of determining the cost per equivalent unit? What is the difference between a value-added and a non-value-added cost? Give an example of each. What is the total amount of conversion costs? What are some ways that customers affect a firm's costs?
What is the definition of absorption costing?Absorption costing, also known as full costing, is a cornerstone of cost accounting that provides a comprehensive view of the total costs associated with manufacturing a product. By assigning both fixed and variable costs to inventory, this method ensures...
undergenerally accepted accounting principles (GAAP), a portion of fixed costs is assigned to each unit of production.1For example, if a factory produces 10,000 widgets and pays $30,000 in rent for the building, a $3 cost would be attributed to each widget under absorption costing. ...
求翻译:what characteristic of absorption costing caused the drop in net operating income for the second quarter and what could the controller have said to explain the problem是什么意思?待解决 悬赏分:1 - 离问题结束还有 what characteristic of absorption costing caused the drop in net operating ...