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?
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
This chapter discussed a number of sources of American law. Which source of law takes priority in the following situations, and why? (See Sources of American Law(a) A fed...
Jul 06 2021On March 15, 2015, XKY Drilling obtained a nine-month workingcapital loan from the First National Bank of Bandera. The faceamount of the note signed by the treasurer was ...
Mar 21 2020Lithium, Inc. is considering two mutually exclusive projects, A and B. Project A costs $95,000 and is expected to generate $65,000 in year one and $75,000 in year two. Pr...
Aug 24 2020Hey I was wondering the best way to get a Trojan virus off my computer?
Apr 24 2020Product divisions are created to concentrate on a single product or service or at least a relatively homogenous set of products or services. Which of the following is no...
Mar 07 2018Consider the following premerger information about a bidding firm (Firm B) and a target firm (Firm T). Assume that both firms have no debt outstanding.Firm BFirm T Share...
Apr 19 2021How do peers affect delinquency? Do delinquents seek outantisocial and delinquent peers as friends or does havingdelinquent peers cause an individual to become delinquent...
Feb 04 2020Discuss as a small group the role of questionnaire design in minimizing total research error.
Jul 23 2020CSCI 101 Here is a simple heuristic (approximation algorithm) for routing a message from node A to node B in a reasonable amount of time. The algorithm assumes that every...
May 27 2020Discuss how you can convert the skills you have gained in projeDiscuss using five points with well-illustrated examples and diagrams where possible to explain why it is i...
Aug 24 2020