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COST ACCOUNTING

COST ACCOUNTING
16問 • 2年前
  • Bailyn Sambutoan
    • 通報

    問題一覧

  • 1

    It involves measuring, recording, and reporting product costs.

    Cost accounting

  • 2

    The ____ of the product cost information is critical to the success of the company.

    accuracy

  • 3

    A cost accounting system consists of accounts for the various ______ costs. These accounts are fully ______ into the general ledger of the company.

    manufacturing, integrated

  • 4

    An important feature of a cost accounting system is the use of a ________. Such a system provides immediate, ________ information on the cost of a product.

    perpetual inventory system, up-to-date

  • 5

    What are the two basic types of cost accounting system?

    Process cost system and Job order cost system

  • 6

    A company uses a ________ when it manufactures a large volume of similar products.

    Process cost system

  • 7

    A cost accounting system that measures cost for each completed job, rather than for set time periods.

    Job order cost system

  • 8

    The objective is to compute the cost per job.

    Job order cost system

  • 9

    Can a company use both types of cost systems?

    Yes

  • 10

    Which cost system assigns costs to each job or to each batch of goods?

    Job Order Cost System

  • 11

    An important feature of job order costing is that each job or batch has its own _______ .

    distinguishing characteristics

  • 12

    The objective of both cost accounting systems is to provide unit cost information for product pricing, cost control, inventory valuation, and financial statement presentation.

    True

  • 13

    Under Job Order Cost System, similar products are produced over a specified time period.

    False

  • 14

    The Job order cost flow begins with the accumulation of ______ the. assigning to ________ and when the job is completed, cost is transfers to _______ and when goods are sold, the cost will goes to the __________.

    Manufacturing costs, Work in process Inventory, Finished goods inventory, Cost of goods sold

  • 15

    The flow of costs in job order costing is _____ the physical flow of the materials as they are converted into finished goods.

    parallels

  • 16

    The cost flows of Job order cost system can be categorized as one of four types:

    Accumulation, Assignment to jobs, Completed jobs, When goods are sold

    • ETHICS

    ETHICS

    Bailyn Sambutoan · 100問 · 2年前

    ETHICS

    ETHICS

    100問 • 2年前
    Bailyn Sambutoan

    ETHICS

    ETHICS

    Bailyn Sambutoan · 59問 · 2年前

    ETHICS

    ETHICS

    59問 • 2年前
    Bailyn Sambutoan

    問題一覧

  • 1

    It involves measuring, recording, and reporting product costs.

    Cost accounting

  • 2

    The ____ of the product cost information is critical to the success of the company.

    accuracy

  • 3

    A cost accounting system consists of accounts for the various ______ costs. These accounts are fully ______ into the general ledger of the company.

    manufacturing, integrated

  • 4

    An important feature of a cost accounting system is the use of a ________. Such a system provides immediate, ________ information on the cost of a product.

    perpetual inventory system, up-to-date

  • 5

    What are the two basic types of cost accounting system?

    Process cost system and Job order cost system

  • 6

    A company uses a ________ when it manufactures a large volume of similar products.

    Process cost system

  • 7

    A cost accounting system that measures cost for each completed job, rather than for set time periods.

    Job order cost system

  • 8

    The objective is to compute the cost per job.

    Job order cost system

  • 9

    Can a company use both types of cost systems?

    Yes

  • 10

    Which cost system assigns costs to each job or to each batch of goods?

    Job Order Cost System

  • 11

    An important feature of job order costing is that each job or batch has its own _______ .

    distinguishing characteristics

  • 12

    The objective of both cost accounting systems is to provide unit cost information for product pricing, cost control, inventory valuation, and financial statement presentation.

    True

  • 13

    Under Job Order Cost System, similar products are produced over a specified time period.

    False

  • 14

    The Job order cost flow begins with the accumulation of ______ the. assigning to ________ and when the job is completed, cost is transfers to _______ and when goods are sold, the cost will goes to the __________.

    Manufacturing costs, Work in process Inventory, Finished goods inventory, Cost of goods sold

  • 15

    The flow of costs in job order costing is _____ the physical flow of the materials as they are converted into finished goods.

    parallels

  • 16

    The cost flows of Job order cost system can be categorized as one of four types:

    Accumulation, Assignment to jobs, Completed jobs, When goods are sold