Based on Recent Complaints About the Amount of Time It

question 44

Multiple Choice

Based on recent complaints about the amount of time it takes for front desk staff to check patrons into their hotel,the company has instituted a training program for employees and a free drink to patrons not checked in within 5 minutes.The training program will lessen the problems primarily related to the ________ characteristic of services.

• A)responsiveness
• B)intangibility
• C)variability
• D)inseparability
• E)perishability

Identify and record different types of costs (direct, indirect, raw materials, labor) in a job-order costing system.

Calculate the cost of goods manufactured and the cost of goods sold using specific accounting equations.

Recognize the process of applying manufacturing overhead to jobs in a job-order costing system.

Understand the calculation and application of the predetermined overhead rate.

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Definitions:

Direct Materials

The raw materials that can be directly traced to the manufacturing process of a product.

Indirect

Costs or actions that are not directly traceable to a specific product, service, or activity but are necessary for the business to operate.

Direct

Expenses or costs that can be directly traced to a specific cost object, like a product, department, or project.

Cost Object

Anything for which cost data are desired. Examples of cost objects are products, customers, geographic regions, and parts of the organization such as departments or divisions.