6_product_costing_questions

6_product_costing_questions - 5. How does the current...

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Principles of Managerial Accounting ACCT 202 Professor Steve Markoff 6 Product Costing Questions <= these are listed on a WileyPLUS assignment – please use that to  respond=> 1. What 3 elements are necessary to compute cost of goods sold in a retail  business?  2. What 3 elements are necessary to compute cost of goods sold in a  manufacturing business?  3. In words, what does “cost of goods manufactured” represent for a  company using job-order costing? 4. In words, describe what “cost of goods manufactured” represents for a  company using process costing?
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Unformatted text preview: 5. How does the current assets section of the balance sheet of a manufacturing business differ from the current assets section of a retain business which you studied in ACCT 201? 6.Remembering that most decision making is based on incremental analysis (the changes in revenues and expenses from 2 alternatives), what uses and limitations of process costing would you foresee in terms of incremental decision making? Would process costing be useful? What changes would we have to make?...
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This note was uploaded on 01/25/2010 for the course BSLW 265 taught by Professor Barton during the Fall '09 term at Montclair.

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6_product_costing_questions - 5. How does the current...

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