Which of the following accurately describes a difference between job order and process costing systems?
a. In job order costing systems, overhead costs are treated as product costs, whereas in process costing systems, overhead costs are treated as period costs.
b. Job order costing systems do not need to assign costs to production, whereas process costing systems do.
c. In job order costing systems, costs are traced to products, whereas in process costing systems, costs are traced to processes, departments and work cells.
d. Since costs are assigned to products in a job order costing system, selling costs are treated as product costs in the job order costing system, whereas they are treated as period costs in process costing systems.
C
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Berkley's gross pay for the month is $14,40000. His deduction for federal income tax is based on a rate of 18%. He has no voluntary deductions. His yearly pay is under the limit for OASDI. What is Berkley's net pay? (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.)
A) $10,706.40 B) $14,400.00 C) $13,298.40 D) $11,808.00
Sona is forecasting its financial statements for Year 2. Selected financial information for Years 1 and 2 is provided in the table. In Year 2 Sona is planning to invest $50 million in CAPEX and forecasted depreciation is $16 million
What is the Net Property, Plant and Equipment balance in Year 2? Selected Financial Information Sona Inc ($ millions) Year 1 Year 2 PP&E $150 Depreciation 20 16 CAPEX 30 50 A) $184 B) $194 C) $203 D) $209 E) $211