Questions from Cost Accounting

Q: If costs increase from one period to another, will costs that

If costs increase from one period to another, will costs that are transferred out of one department under FIFO costing be higher or lower than costs transferred out using weighted-average costing? Why...

Q: Ferdon Watches, Inc., makes four models of watches, Gag

Ferdon Watches, Inc., makes four models of watches, Gag-Gift, Commuter, Sport, and Retirement. Ferdon manufactures the watches in four departments: Assembly, Polishing, Special Finishing, and Packagin...

Q: Select the best answer for each of the following independent multiple-

Select the best answer for each of the following independent multiple-choice questions. a. Adams Company’s production cycle starts in Department A. The following information is avai...

Q: The following pertains to the Cereal Division of McKenzie Corporation. Conversion

The following pertains to the Cereal Division of McKenzie Corporation. Conversion costs for this division were 80 percent complete as to beginning work-in-process inventory and 50 percent complete as...

Q: Douglas Toys is a manufacturer that uses the weighted-average process

Douglas Toys is a manufacturer that uses the weighted-average process costing method to account for costs of production. It produces a plastic toy in three separate departments: Molding, Assembling, a...

Q: Refer to the facts in Problem 8-42.

Refer to the facts in Problem 8-42. In Problem 8-42 Douglas Toys is a manufacturer that uses the weighted-average process costing method to account for costs of production. It produces a plastic toy...

Q: Cost allocation allocates only a given amount of costs to products.

Cost allocation allocates only a given amount of costs to products. The total allocated is the same; therefore the choice of the system does not matter. True or false? Explain.

Q: In its Department R, Recyclers, Inc., processes donated scrap

In its Department R, Recyclers, Inc., processes donated scrap cloth into towels for sale in local thrift shops. It sells the products at cost. The direct materials costs are zero, but the operation re...

Q: Why are cost drivers based on direct labor widely used?

Why are cost drivers based on direct labor widely used?

Q: Saline Solutions uses process costing to account for production of its unique

Saline Solutions uses process costing to account for production of its unique compound BG at its River Plant. The River Plant has two departments: R and S. Raw materials are added at two points in the...