A process costing system is employed in those situations where:
A. full or absorption cost approach is not employed.
B. a service is performed such as in a law firm or an accounting firm.
C. where manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis.
D. many different products, jobs, or batches of production are being produced each period.
Answer: C
You might also like to view...
Failure to record the earned portion of unearned revenue would result in which of the following?
a. Net income being understated b. No effect on total liabilities c. Stockholders' equity being overstated d. Total assets being understated
The financial perspective of the balanced scorecard addresses stakeholder concerns about profitability and organizational growth
Indicate whether the statement is true or false
Without promotion, unsought products will probably stay unsold.
Answer the following statement true (T) or false (F)
What is autonomic computing?
A. Self-managing computing model named after and patterned on, the development of information systems. B. Self-managing computing information system named after and patterned on, the human body's autonomic nervous systems. C. Self-managing computing model named after and patterned on, the human body's autonomic nervous systems. D. None of the above.