Accounting 2037 Final Exam Questions and All Correct Answers Updated.

depreciation expense - Answer how much value in my buildings and equipment has been used up this year inventory - Answer what i plan to sell to my customers in the future cost of goods sold - Answer the cost of all the stuff i sold to my customers this year wages expense - Answer how much my employees earned this week and have already been paid for accounts payable - Answer what i owe my suppliers job order - Answer cost system; when a job is completed the total costs assigned to that job is removed from factory overhead and added to the finished goods inventory manufacturing costs - Answer become an expense only when the company sells the goods Incremental costs - Answer cost increases resulting from a higher volume of activity or from performance of an additional activity opportunity costs - Answer the profits that a company forgoes by following a particular course of action relevant cost - Answer the lost revenue from discontinuing the product, variable costs in producing the solar powered light bulb, the depreciation expense on the machines to produce the light bulb factory overhead cost - Answer cannot be traced directly to a unit of production cost of goods sold - Answer another name for inventory expense payback period - Answer the length of time required for a return of the initial investment