Which of the Following Is Unique to a Process Costing

question 43

Multiple Choice

Which of the following is unique to a process costing system?

• A)Work is not started on a product until an order is received.
• B)Direct materials, direct labor and manufacturing overhead are assigned to the first department only.
• C)Costs for each process stay with that process until the goods are moved to finished goods.
• D)Each process has its own WIP account.

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Definitions:

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, transforming economies that had been based on agriculture and handicrafts into economies based on large-scale industry, mechanized manufacturing, and the factory system.

Steam Engine

A steam-powered engine that executes mechanical tasks, significantly contributing to the Industrial Revolution by operating factories, locomotives, and maritime vessels.

England

A country that is part of the United Kingdom, located on the island of Great Britain, known for its rich history, cultural heritage, and as the birthplace of the English language.

Barbara Ehrenreich

An American author and activist known for her critiques on the economic inequalities in Western societies, notably in her book "Nickel and Dimed."