An Operation Costing System Is

question 145

Multiple Choice

An operation costing system is:

• A) identical to a process costing system except that actual cost is used for manufacturing overhead.
• B) the same as a process costing system except that materials are allocated on the basis of batches of production.
• C) the same as a job order costing system except that materials are accounted for in the same way as they are in a process costing system.
• D) the same as a job order costing system except that no overhead allocations are made since actual costs are used throughout.

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Definitions:

Fair Labor Standards Act

A United States federal law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards for full-time and part-time workers.

Worker Adjustment

The process of employees adapting to changes within their work environment, which may include shifts in duties, policies, or organizational structure.

Retraining Notification Act

A U.S. federal law that requires employers to provide advance notice to workers affected by plant closures or significant layoffs.

Drug-Free Workplace Act

U.S. legislation aimed at reducing drug abuse in the workplace by requiring federal contractors and grant recipients to maintain a drug-free environment.