The Typical AP/CD Process Would Capture and Record Data Related

question 84

Multiple Choice

The typical AP/CD process would capture and record data related to the day-to-day operations of all of the following departments except:

• A) shipping
• B) cashier
• C) receiving
• D) activities for all of the above are captured and recorded by the AP/CD process.

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Definitions:

Absorption Costing

A method of accounting that incorporates all costs associated with manufacturing, including direct materials, direct labor, as well as both variable and fixed overhead expenses, into the product's cost.

Variable Costing

A costing method that includes only variable manufacturing costs—direct labor, direct materials, and variable manufacturing overhead—in unit product cost.

Net Incomes

The total earnings of a company after all expenses, taxes, and costs have been deducted from total revenue.

Absorption Costing

An accounting method that includes all manufacturing costs (direct materials, direct labor, and both fixed and variable manufacturing overhead) in the cost of a product.