Which of the following product costing systems is normally used to assign costs to goods that are produced in unique batches?
A)Fixed costing
B)Job costing
C)Process costing
D)LIFO costing

Question

Quizplus · Accepted Answer

Job costing is the most appropriate costing system to assign costs to goods that are produced in unique batches, as it allows for the tracking of costs for each individual job or batch. Fixed costing involves assigning a fixed amount of overhead costs to each unit produced, which is not suitable for unique batch production. Process costing is used for mass-produced goods with identical or similar characteristics, and LIFO costing is a method of inventory valuation, not a product costing system.

Which of the Following Product Costing Systems Is Normally Used