Information on a Production Cost Report Is Used to Transfer

question 49

Multiple Choice

Information on a production cost report is used to transfer costs and units of output from one manufacturing center to another in a(n) :

• A) Process costing system
• B) Job order costing system
• C) Activity-based costing system
• D) None of these are correct

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Definitions:

Average Monthly Gross Production

The total production or output of a company or industry, averaged over a month, before deductions for costs or expenses.

Income Statement

A statement that demonstrates the profit and expenses for a given month and also includes year-to-date information for a given year.

Year-To-Date Information

Data gathered or accumulated from the beginning of the current calendar or fiscal year up to the present date.

Assets

Anything owned that has exchange value; all the entries on a balance sheet that show the property or resources of a person or business; the money and items of value in a business.