The Basic Similarities Between Job Order Cost and Process Cost

question 160

Multiple Choice

The basic similarities between job order cost and process cost systems include all of the following except the

• A) manufacturing cost elements.
• B) flow of costs.
• C) point at which costs are totaled.
• D) accumulation of the costs of materials labor and overhead.

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Definitions:

Buyer Requirement

The specific conditions and characteristics that potential customers seek when purchasing a product or service.

Channel Conflict

Disputes or competition among different distribution channels of the same product, which can lead to reduced efficiency and profitability for a manufacturer.

Disagreements

Occurrences of conflicting opinions or views among individuals or groups.

Trade Discounts

A reduction in the listed price of goods or services offered by sellers to buyers in the business-to-business market or in bulk purchases.