This Study Resource Was: E-Tivity 3: On Basics of Process and Job Order Costing and Short Exercise Drill
This Study Resource Was: E-Tivity 3: On Basics of Process and Job Order Costing and Short Exercise Drill
QUESTIONS
Process Costing 11. What method must be used by a company manufacturing school bags?
Job Order Costing12. What method must be used by a company manufacturing aircrafts?
Process Costing 13. What method must be used by a company manufacturing candies?
Process Costing 14. What method must be used by a beer manufacturing company?
Process Costing 15. What method must be used by a company manufacturing tennis balls?
TRUE-FALSE QUESTION
1. Reports prepared in financial accounting are general-purpose reports, whereas
T
m
reports prepared in managerial accounting are usually special-purpose reports.
er as
co
2. Managerial accounting internal reports are prepared frequently than are classified
eH w
T
financial statements.
o.
F - cost rs e
3. Determining the unit cost of manufacturing a product is an output of financial
ou urc
accounting.
T 5. Controlling is the process of determining whether planned goal are being met.
7. Job order costing system is for allocating costs to group of unique product and is
T applicable to the production of customer specified products such as the
manufacture of special machine.
is
F – Job
8. Process costing is used by companies making one-of-a-kind products.
Th
Order
9. Operation costing is a hybrid costing system often used in repetitive
T manufacturing where finished products have common as well as distinguishing
sh
characteristics.
10. Cost accounting procedures help management in gathering the data needed to
T determine product costs and thus generate meaningful financial statements and
other reports.
This study source was downloaded by 100000795173129 from CourseHero.com on 09-24-2021 05:51:35 GMT -05:00
https://www.coursehero.com/file/98056310/E-TIVITY3-BSA-2D-PASTORJanMichaelSpdf/
Powered by TCPDF (www.tcpdf.org)