In Most Manufacturing Companies,the Inventory and Warehousing Cycle Begins with The:
In most manufacturing companies,the inventory and warehousing cycle begins with the:
A) receipt of a customer's order.
B) completion of production of a customer's order.
C) initiation of production of a customer's order.
D) acquisition of raw materials for production of an order.
________ accumulate costs by individual jobs as material is issued into production and labor costs are incurred.
A) Just-in-time production systems
B) Job order cost systems
C) Process cost systems
D) Manufacturing systems
Master files,spreadsheets,and reports that accumulate material,labor,and overhead as the costs are incurred are:
A) accounting systems.
B) storeroom documents.
C) cost accounting records.
D) finished goods inventory records.
The main difference between job order and process costing systems is that:
A) one accumulates costs by materials issued and the other by labor incurred.
B) one accumulates costs by individual jobs and the other by particular processes.
C) one emphasizes costs accumulated in completed products and the other emphasizes costs associated with work-in-process.
D) one emphasizes costs adding value to the product and the other emphasizes costs incurred because of waste, scrap, and obsolescence.