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Cornerstones of Managerial Accounting Study Set 1
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Cornerstones of Managerial Accounting Study Set 1
Business
Quiz 6 :
Process Costing
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Quiz 6 :
Process Costing
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Which type of costing system works best with a large number of homogeneous products?
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Q01
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Answer:
B
Which of the following businesses is most likely to use process costing?
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Q02
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Answer:
A
Which of the following businesses is most likely to use process costing?
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Q03
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Answer:
C
Which costing system is most likely to be used by manufacturer that produces unique products?
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Q04
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Which of the following companies would be least likely to use a process-costing system?
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Q05
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Which statement is a characteristic of process accounting?
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Q06
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What type of service firm would not likely use process costing?
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For which of the following businesses is process costing is most appropriate?
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What type of business would likely use process costing?
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Q09
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What types of inputs are normally found in a process-costing accounting system?
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Q10
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Which of the following best describes sequential processing?
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Which of the following best describes parallel processing?
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Which of the following best describes parallel processing?
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Which of the following best describes sequential processing?
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Which of the following is a cost transferred from a prior process to a subsequent process?
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Q15
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Which of the following is the cost of partially completed goods from a prior period?
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Q16
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When should process costing techniques be used in assigning costs to products?
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Suppose that finished units are now in the last (final)department.To which account will the cost of the finished units flow from the work-in-process account?
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Q18
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Which goods are moved from a prior department to subsequent department?
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Q19
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Which account do the costs of completed products move to after work-in-process?
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