Question 94 pts When using vertical analysis, horizontal analysis cannot be appl

Question

Question 94 pts

When using vertical analysis,

horizontal analysis cannot be applied to the same company.

Question 204 pts

After application of factory overhead (FOH) to the Work In Process inventory for the year, the FOH account has a debit balance of $4,500. This balance is considered immaterial by management. Factory overhead for the year has been

The answer cannot be determined, because the amount is considered immaterial, rather than material.

Question 214 pts

When manufactured goods are placed in the Finished Goods inventory, they are considered ready to market to customers. The expense journal entry for this sale to customers always has a debit entry to

Cash.

Question 224 pts

The floor supervisor for the manufacturing division of Appep Products, Inc., a company that uses the job order costing method of accounting for product, requisitions raw materials from the RM storeroom and put this material in the manufacturing process. The journal entry that should be made by Appep to account for this requisition is

None of the above entries is correct.

Question 234 pts

When the perpetual inventory method is used, which is normal when a company uses job order costing, the Statement of Cost of Goods Manufactured, shown in your textbook on p. 902,

Explanation / Answer

Vetical analysis net sales is the 100% benchmark against which all other income statement amounts are compared q) under applied hence debit balance in FOH 3) cost of goods sold 4) Appep Debit raw materials inventory ,credit work In process inventory 5) has its main objective , a reconciliation of beginning and ending balances in COGS

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