Project #32150 - Cost Accounting

 

Unit 7 Discussion

 

Examine Exhibits 11–6, 11–7, 11–8 and 11–9 in this unit’s reading.

 

Assignment Checklist:

 

Properly associate the methods with the Exhibits

 

Comparison of advantages and disadvantages should include the following key concepts:

 

      o   Static v. Dynamic

 

      o   Equally desirable v. Proportionate to sales

 

Identify the specific accounts on the financial statements that are affected

 

Discuss the effect of the choice on cost of goods sold and net income

 

Identify the two primary methods used to allocate joint costs. Compare the advantages of disadvantages of the two primary methods used to allocate joint costs to joint products. Explain how the choice of allocation method may affect the financial statements.

 

Subject Business
Due By (Pacific Time) 06/01/2014 06:00 pm
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