Which of the Following Only Applies to Process Costing

question 90

Multiple Choice

Which of the following only applies to process costing?

• A)product cost averaging
• B)predetermined overhead rates
• C)equivalent units of production
• D)individual job activity

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Definitions:

Weighted Average

A calculation that takes into account the proportional relevance of each component, rather than treating them equally.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenue.

Common Shares

Equity securities that represent ownership in a corporation, giving shareholders voting rights and a share in the company's profits through dividends.

Preferred Shares

A class of stock that provides shareholders with a priority claim on assets and earnings before common stockholders, usually including fixed dividend payments.