Principles of Cost Accounting
17th Edition
ISBN: 9781305087408
Author: Edward J. Vanderbeck, Maria R. Mitchell
Publisher: Cengage Learning
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Question
Chapter 2, Problem 11Q
a.
To determine
Explain the duties of purchasing agent.
b.
To determine
Explain the duties of receiving clerk.
c.
To determine
Explain the duties of storeroom keeper.
d.
To determine
Explain the duties of production supervisor.
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Chapter 2 Solutions
Principles of Cost Accounting
Ch. 2 - What are the two major objectives of materials...Ch. 2 - Prob. 2QCh. 2 - What factors should management consider when...Ch. 2 - Prob. 4QCh. 2 - What kind of information and data are needed to...Ch. 2 - How would you define the term economic order...Ch. 2 - What kind of information and data are needed to...Ch. 2 - What factors should be considered when determining...Ch. 2 - Prob. 9QCh. 2 - Prob. 10Q
Ch. 2 - Prob. 11QCh. 2 - Proper authorization is required before orders for...Ch. 2 - Prob. 13QCh. 2 - Prob. 14QCh. 2 - Prob. 15QCh. 2 - Prob. 16QCh. 2 - Prob. 17QCh. 2 - Normally, a manufacturer maintains an accounting...Ch. 2 - Prob. 19QCh. 2 - Why do companies adopt the LIFO method of...Ch. 2 - Prob. 21QCh. 2 - Prob. 22QCh. 2 - Prob. 23QCh. 2 - Prob. 24QCh. 2 - Prob. 25QCh. 2 - Prob. 26QCh. 2 - Prob. 27QCh. 2 - Prob. 28QCh. 2 - A manufacturing process may produce a considerable...Ch. 2 - After a product is inspected, some units may be...Ch. 2 - Order Point Pershing, Inc. expects daily usage of...Ch. 2 - Economic order quantity; order cost; carrying cost...Ch. 2 - Economic order quantity; order cost; carrying cost...Ch. 2 - Journalizing materials requisitions Penrose...Ch. 2 - Recording materials transactions Prepare a journal...Ch. 2 - PurrChems raw materials records contained the...Ch. 2 - Using first-in, first-out perpetual inventory...Ch. 2 - LIFO costing Using last-in, first-out perpetual...Ch. 2 - Using the weighted average method of perpetual...Ch. 2 - Prob. 10ECh. 2 - Renfro, Inc. was franchised on January 1, 2016. At...Ch. 2 - Recording materials transactions Craig Products...Ch. 2 - Recording materials transactions Broadwell...Ch. 2 - JIT and cost control Matsui Industries produces...Ch. 2 - Kenkel, Ltd. uses backflush costing to account for...Ch. 2 - For E2-15, prepare any journal entries that would...Ch. 2 - Davis Co. uses backflush costing to account for...Ch. 2 - For E2-17, prepare any journal entries that would...Ch. 2 - A machine shop manufactures a stainless steel part...Ch. 2 - Spoiled work Roger Company manufactures tennis...Ch. 2 - Defective work Herbert Electronics manufactures an...Ch. 2 - Perry Co. predicts it will use 25,000 units of...Ch. 2 - Prob. 2PCh. 2 - Economic order quantity; tabular computation Lopez...Ch. 2 - In P2-3, assume that the company desires a safety...Ch. 2 - Inventory costing methods The purchases and issues...Ch. 2 - Inventory costing methods The following...Ch. 2 - Terrills Transmissions uses a job order cost...Ch. 2 - Prob. 8PCh. 2 - Tuscany Products, Inc. uses a job order cost...Ch. 2 - Prob. 10PCh. 2 - JIT and cost control Langray, Ltd. produces 50,000...Ch. 2 - Backflush costing Russell Corp. uses backflush...Ch. 2 - Webster Company uses backflush costing to account...Ch. 2 - An examination of Buckhorn Fabricators records...Ch. 2 - One of the tennis rackets that Ace Sporting Goods...Ch. 2 - Lloyd Industries manufactures electrical equipment...Ch. 2 - Review Problem for Chapters 1 and 2 UltraLift...Ch. 2 - Financial and Nonfinancial Aspects of Changing to...Ch. 2 - Prob. 2MC
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Similar questions
- Which of the following departments often found in a merchandising organization would be classified as a line department? Select one: OA. Human Resources OB. Maintenance C. Home Furnishings D. Payrollarrow_forwardWhat is journal entry once goods are completed and then sold? The subject is Managerial Accounting.arrow_forwardJournalizing the entry to record jobs shipped and customers billed would include a credit to A. Cash B. Accounts payable C.finished goods D. Cost of goods soldarrow_forward
- The accounting firm which audits the financial statements of a company uses a: a. Process costing system O b. Job costing system c. Average costing system O d. Computer costing systemarrow_forwardBriefly discuss the chain of command for someone being hired into an organization as a staff managerial accountant.arrow_forwardWhich document lists the total direct labor used in a specific job? A. job cost sheet B. purchase order C. employee time ticket D. receiving documentarrow_forward
- The manager in charge of the accounting department is usually known as the _______________________arrow_forwardWhich General Staff member negotiates and monitors contracts, maintains documentation for reimbursement, and oversees timekeeping for incident personnel? A.Finance/Administration Section Chief B. Operations Section Chief C. Logistics Section Chief D. Planning Section Chief.arrow_forwardIn job order costing, on which of the following would labor costs be initially recorded? a. payroll register b. time tickets c. job cost sheets d. clock cardsarrow_forward
- Following items belong to the revenue, expenditure, human resources/payroll, production, or financing cycle. Classify each item based on the cycle it belongs to. a. Pay pay-as-you-earn (PAYE) payroll taxes b. Send material requisition to inventory c. Issue stock to investors d. Borrow money from the bank to purchase a new factory e. Complete receiving report f. Appoint replacement purchasing clerk g. Measure employee performance using a performance management system h. Choose suitable supplier of raw materials i. Ensure employees are up to date with the latest tax provisions j. Record personal and tax information for new employeesarrow_forwardWhich would normally occupy a line position? a. staff accountantb. treasurerc. accounting managerd. vice-president of marketingarrow_forwardAs related to a job order costing system, answer the following short questions: a. What is a job order costing system? Identify three kinds of companies that would use such as system. b. What is a job order? c. What is the purpose of a job order cost card? Identify the kinds of information recorded on it.arrow_forward
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