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A food and beverage company like Pepsi would most likely use process costing.

 A food and beverage company like Pepsi would most likely use process costing.

2) Job costing is used by companies that produce large numbers of identical units of production in a  continuous fashion.

3) Job costing systems accumulate the costs for each individual job.

4) Companies should always use job costing rather than process costing.

5) Generally Accepted Accounting Principles (GAAP) mandates the type of product costing system  (job costing or process costing) that must be used by a manufacturer.

6) Job costing should only be used by manufacturers.

7) The end goal of process costing and job costing at a manufacturing company is the same–to find  the cost of producing one unit of product.

8) Process costing is often used by professional service providers, such as law firms.

9) All manufacturers use either a pure process costing system or a pure job costing system.

10) Companies use process costing when their products or services vary in terms of materials needed,  time required to complete the product, and/or the complexity of the production process.

Dec 07 2019 View more View Less

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