l osting is d. the unit cost information is not received on a timely basis. that
ID: 2573545 • Letter: L
Question
l osting is d. the unit cost information is not received on a timely basis. that b. it can result in fluctuating per-unit overhead costs. c. estimated overhead and estimated activity are likely to differ from actual overhead and actual costs, resulting in underapplied or overapplied overhead d. there is no difficulty associated with using normal costing. 7. The appropriate cost accounting system to use when inventory items are produced on an assembly line is a. job-order costing b. process costing. c. weighted average. perpetual method. 8. What system would a manufacturer of unique special orders or batch processes most likely use to accumulate costs? a. process costing b. contract costing c. variable costing d. job-order costing 9. The production report is: a document used to requisition materials from inventory the document to account for the transfer of costs to finished goods the document that summarizes the manufacturing activity that takes place in a process department for a given period of time the document that summarizes the manufacturing costs associated with a job in a job- costing system a. b. c. d. 10. Which is NOT a difference between the job-order costing system and the process costing system a. b. c. d. They accumulate their costs to different cost objectives. The number of work-in-process accounts is different. One does not use the finished goods account. All are differences. 11. As production occurs, materials, direct labor, and applied manufacturing overhead are recordedi a. materials. b. finished goods. c. work in process. d. cost of goods sold.Explanation / Answer
Q No. 7-Process Costing (option B)- Process costing is a method of costing in which manufacturing cost is distributed to various processes.
Q No.8 Job Order Costing (option D)-Job order costing is method of costing in which manufauring cost is assigned to an indivaidual produc or batch of products.
Q No 11 Work in progress (option C)-As goods are not prepared properly at this stage therefore all expenses related to manufacturing are added in WIP.
Q No.10 one does not use the finished goods account (Option C ) both of the method does not uses finished goods account
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