A Hybrid Costing System That Is Often Used When Manufacturing
A hybrid costing system that is often used when manufacturing goods that have some common characteristics plus some individual characteristics is called:
A)continuous flow process.
B)cost management system.
C)two-stage allocation system.
Which of the following statements is true?
A)Job costing can only be used when a single unit is produced rather than a batch.
B)Process costing is used when products are customized.
C)Job costing must be used in a continuous flow processing environment.
D)Process costing does not separately record the costs for each unit.
Which of the following would be the least appropriate allocation base for allocating overhead in a highly automated (i.e. ,capital-intensive)manufacturing company?
C)Direct labor hours.
D)Material consumeD.Direct labor hours would be the least related allocation base to use in an automated environment between the alternatives provideD.
For which of the following businesses would the job order cost system be appropriate?
B)Crude oil refinery.
C)Baby formula manufacturer.
D)Soft drink producer.