Which method is better for assigning costs to each product

Asked by admin @ in Business viewed by 312 People

When should process costing techniques be used in assigning costs to products?

a. if the firm manufactures heterogeneous products
b. if the products are repetitively produced
c. if the products are manufactured according to customer specifications
d. all of these choices are correct?

Answered by admin @


The correct option is B.
Process costing is the type of costing technique in which costs are assigned to products in batches. This type of costing is usually used by companies which produce homogeneous products which have similar production process stages. Cost is usually assigned to the batches of goods produced instead of individual units.

Similar Questions

The best method for the production of aniline is

Asked by admin @ in Chemistry viewed by 304 persons

Explain the manufacture of aniline from chlorobenzene.

What is a production cost report

Asked by maham237 @ in Business viewed by 314 persons

PA12. LO 5.4Complete this production cost report:

Total cost method

Asked by maham237 @ in Social Studies viewed by 427 persons

The least total cost method (LTC) lot-sizing technique calculates the order quantity by comparing the carrying cost and the setup (or ordering) costs for various lot sizes and then selects …

Traditional volume based product costing system

Asked by maham237 @ in Business viewed by 320 persons

Harwell, Inc. uses a traditional volume-based costing system in which direct labor hours are the allocation base. Harwell produces two different products: Product A, which uses 40,000 direct labor hours, …

In oil industry which method of costing is used

Asked by admin @ in Accountancy viewed by 508 persons

In oil industry, which method of costing is used ? (A) Unit costing(B) Process costing(D) None of these(C) Group costing​

What is the relationship between marginal cost and marginal product

Asked by admin @ in Advanced Placement (AP) viewed by 455 persons

Explain the relationship between the marginal product curve and the marginal cost curve.

Which cost increases continuously with the increase in production

Asked by admin @ in Business Studies viewed by 266 persons

Which cost increases continuously with the increase in production?

Which of the following is an implicit cost of production

Asked by admin @ in Business viewed by 278 persons

Which of the following statements is correct? a.Opportunity costs equal explicit minus implicit costs. b.Economists consider opportunity costs to be included in a firm’s total revenues. c.Economists consider opportunity costs …

Which of the following is not an inventory costing method

Asked by admin @ in Business viewed by 270 persons

Considerations that affect the selection of an inventory costing method do not include: a. tax effects. b. balance sheet effects. c. income statement effects. d. perpetual versus periodic inventory system.

User research method comes from motion picture production

Asked by admin @ in Business Studies viewed by 472 persons

This user research method comes from motion picture production

____________ user research method comes from motion picture production

Asked by admin @ in Business Studies viewed by 5455 persons

____________ user research method comes from motion picture production. A) None of the options B) Role Play C) Storyboard D) Persona

Describe a method to determine net and gross primary productivity

Asked by maham237 @ in Biology viewed by 294 persons

in a freshwater pond over a 24-hour period.

Lower of cost or market method

Asked by maham237 @ in Business viewed by 261 persons

Under the lower-of-cost-or-market method, the replacement cost of an inventory item would be used as the designated market value:a. when it is below the net realizable value less the normal …

All of the following are true regarding product costs except

Asked by maham237 @ in Business viewed by 415 persons

All of the following are true regarding product costs except a.product costs consist of direct labor, direct materials, and factory overhead b.product costs can be found in three accounts on …

Economic costs of production differ from accounting costs in that

Asked by admin @ in Economy viewed by 302 persons

Economic costs of production differ from accounting costs in that

Most viewed questions in Business

Foolproof module 9 test answers

Asked by maham237 @ in Business viewed by 3322 persons

Able, baker, and charles are engaged in the marketing to and enrollment of beneficiaries into medicare health plans. mr. able is an independent agent paid directly by a health plan. ms. baker is an independent agent paid through a field marketing organization (fmo). mr. charles is an independent agent paid for his work by a third-party marketing organization (tmo). how do the cms compensation rules apply to these three agents?

Asked by maham237 @ in Business viewed by 2742 persons

Interest rates are expressed as a percentage of

Asked by maham237 @ in Business viewed by 2111 persons

How to enhance knowledge regarding environmental factors through capsim?

Asked by wiki @ in Business viewed by 1813 persons

Match the job titles with the career clusters.

Asked by maham237 @ in Business viewed by 1482 persons

A company that allows you to license software

Asked by maham237 @ in Business viewed by 1295 persons

Lupe is ready to open a checking account

Asked by maham237 @ in Business viewed by 1287 persons

Mays and mccovey are beer brewing companies

Asked by maham237 @ in Business viewed by 1217 persons

What must be marked on ready to eat bags phfs

Asked by maham237 @ in Business viewed by 1173 persons

Coq six sigma

Asked by maham237 @ in Business viewed by 1141 persons

Henry ford was the first entrepreneur to implement which strategy

Asked by maham237 @ in Business viewed by 1086 persons

Your company was recently served with a lawsuit

Asked by maham237 @ in Business viewed by 1075 persons

Case study starting a business project schedules and curves edgenuity

Asked by maham237 @ in Business viewed by 1067 persons

Which two of the four cs of credit have to do with earning potential and available cash?

Asked by wiki @ in Business viewed by 985 persons

The total annual expenditures on advertising in the united states

Asked by maham237 @ in Business viewed by 972 persons