In a process costing system, costs are traced directly to jobs.
举一反三
- When computing the cost per equivalent unit, the weighted-average method of process costing considers: A: costs incurred during the current period only. B: costs incurred during the current period plus cost of ending work in process inventory. C: costs incurred during the current period plus cost of beginning work in process inventory. D: costs incurred during the current period less cost of beginning work in process inventory.
- The tickets each ______ 10 dollars. A: cost B: costs C: is costing D: are costing
- A process costing system is employed in those situations where: A: many different products, jobs, or batches of production are being produced each period. B: where manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis. C: a service is performed such as in a law firm or an accounting firm. D: full or absorption cost approach is not employed.
- In a job-order costing system, manufacturing overhead applied is recorded as a debit to: A: Raw Materials inventory. B: Finished Goods inventory. C: Work in Process inventory. D: Cost of Goods Sold.
- The control process is a three-step process that includes unfreezing the system, changing the system, and refreezing the system.