(10 min) Job order costing, process costing
In each of the following situations, determine whether job costing or process costing would be more appropriate.
a. A CPA firm l. A landscaping company
b. An oil refinery m. A cola-drink-concentrate producer
c. A custom furniture manufacturer n. A movie studio
d. A tire manufacturer o. A law firm
e. A textbook publisher
a. Job costing l. Job costing
b. Process costing m. Process costing
c. Job costing n. Job costing
d. Process costing o. Job costing
e. Job costing
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A buyer purchases a new home with a low down payment and a long term of repayment. This would most likely cause:
a. an increase in financing cost b. a decrease in financing cost c. no effect on the financing cost d. an acceleration of the amortization of the loan
Dummy variables are also called all of the names below except ________
A) binary B) instrumental C) quantitative D) dichotomous