Which of the following is incorrect regarding a job-order cost system?
A) Unit cost is determined for each product or job.
B) Source documents are used to assign costs to the subsidiary accounts.
C) Costs are accumulated for homogenous products that are produced through a continuous process.
D) Costs may be accumulated for a batch of work that contains many units of a product.
Correct Answer:
Verified
Q5: The use of raw materials in production
Q15: A materials requisition in a job-order cost
Q16: Select the incorrect statement regarding cost flows
Q17: At the time indirect materials are issued
Q18: Which product costing system distributes costs evenly
Q20: A process cost system is used when:
A)
Q21: The entry to record cost of selling
Q22: An iIndirect material:
A) Is an overhead cost.
B)
Q23: Which source document provides information for the
Q24: Needham Company uses a job order
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents