Manger x My Home x CengageNOWv2 |Online teachin x * CengageNOW2|Online teachin x engagenow.com/im/takeAssignment/takeAssignmentMain.do?invoker-&xtakeAssignmentSessionLocator=&inprogress=false 台 ☆ Paused eBook. Print ttem Income Statement for a Manufacturing Company Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by letter. Finished goods inventory, June 1 $116,600 $38,880 (e) Cost of goods manufactured 825,900 (c) 180,000 Cost of finished goods available for sale (a) $540,000 $1,100,000 Finished goods inventory, June 30 130,000 70,000 (F) (b) (d) $945,000 Cost of goods sold a. 16 b. 5.17 C. d. e. 1. (Previous Next Check My Work 3 more Check My Wotk uses remaining Save and Ex Submit Assigment for Grading Progress: 5/8 items All work saved. 103 AM AssignmentL Score: 10.28% 36'F Sunny ^DO e d INE
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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