Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Which type of costing system works best with a large number of homogeneous products

Which type of costing system works best with a large number of homogeneous products

Which type of costing system works best with a large number of homogeneous products?

a.job-order costing

b.process costing

c.sequential costing

d.parallel costing

 

 

 

2.Which of the following businesses is most likely to use process costing?

a.a chemical plant

b.an architectural firm

c.a dentist’s office

d.a manufacturer of fine furniture

 

 

 

3.Which of the following businesses is most likely to use process costing?

a.a custom home builder

b.a CPA firm

c.a chemical manufacturer

d.a custom machine tools manufacturer

 

 

 

4.Which costing system is most likely to be used by manufacturers that produce a large number of homogeneous products?

a.job-order costing

b.process costing

c.sequential costing

d.parallel costing

 

 

 

5.Which of the following companies would be LEAST likely to use a process-costing system?

a.an oil refinery

b.a home-builder

c.a fertilizer company

d.a chemical company

 

 

 

6.Which statement is a characteristic of process accounting?

a.It is used on unique products that are produced on a continuous basis.

b.It accumulates costs by individual job.

c.It works best with a small number of unique products.

d.It utilizes equivalent units computed by the weighted average method or the FIFO method.

 

 

 

7.For what types of firms is process accounting most appropriate?

a.service firms like exterminators

b.manufacturing firms with JIT orientation

c.manufacturing firms using cellular processing

d.manufacturing firms with unique products

 

 

 

8.For which of the following businesses is process costing is most appropriate?

a.a soft drink bottler

b.a custom home builder

c.a caterer

d.a photocopy shop

 

 

 

9.Which of the following businesses is most likely to use process accounting?

a.a paint manufacturer

b.a cruise ship manufacturer

c.a custom home builder

d.a custom cabinet manufacturer

 

 

 

10.What types of inputs are normally found in a process-costing accounting system?

a.selling costs

b.marketing costs

c.administrative costs

d.overhead costs

Mar 13 2020 View more View Less

Answer (UnSolved)

question Get Solution

Related Questions