part one Which of the following would not be a characteristic in a Process Costi

Question

part one

Which of the following would not be a characteristic in a Process Costing System?

Select one:

A. Each department has its own WIP account

B. A product cost report accumulates costs in each department

C. DM, DL, and FOH are transferred directly to the finished good account

D. Products physically move through each department

part 2

Dropping an unprofitable customer will always result in immediate improvements in company profits.

True or False

part 3

In process costing, all product costs are accumulated in a single Work in Process account until the goods have passed through all production departments; the costs are then transferred to Finished Goods.

True of False

Part 4

Increasing the number of cost pools in an Activity-Based Costing system will almost always result in cost savings.

true or false

Explanation / Answer

Q1. Answer is C. DM, DL and FOH are transferred directly to finished Goods inventory. These are transferred to WIP of first department, then to WIP of next department and then finally on completion transferred to Finished Goods. Q2. Answer is True. Q3. Answer is False. Difference process for different departments are made. Q4. Answer is False.

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