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| Internet Exercise #1 Companies must be able to accurately determine the cost of their products and services. The type of the production process involved usually dictates the type of costing system that is used to determine product costs. Go to the following company websites to obtain an understanding of the nature of their operations and then answer the following questions: Which method of determining product costs (job-order costing or process costing) would be more appropriate in each of the following situations? Why?
Fortune Magazine publishes the Fortune 500, an annual ranking of America's largest corporations. Access the Fortune 500 list at http://money.cnn.com/magazines/fortune/fortune500/. Identify three companies on the Fortune 500 that would most likely use job-order costing systems. Write a brief summary (one paragraph) about each of the three companies. The summary for each should include the name, website address, and a brief description of its business, and set forth the reasons why the company would most likely use a job-order costing system. Internet Exercise #3 Perform an Internet search using the term, job-order costing. Select and read a case study or article from the results of your search. (Make sure that you do not select an instructor's lecture notes or a class assignment from the results of your search.) Then, write a brief paper (3 – 5 paragraphs) that summarizes the case study or article. (Your paper should provide the appropriate citation. If necessary, you may wish to refer to the following website, which includes information about citations: http://www.cod.edu/library/research/citenet.htm.) |