Operation Costing Is a Hybrid Costing System for Products and Services

question 102

Multiple Choice

Operation costing is a hybrid costing system for products and services that uses:

• A)Job costing to assign direct material costs and standard costing for conversion cost.
• B)Process costing to assign conversion costs and normal costing for materials cost.
• C)Job costing for direct materials costs and process costing for conversion cost.
• D)Normal costing for conversion cost and process costing for materials cost.

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Definitions:

Highly Objective

Characterized by the ability to make judgments based on facts without influence from personal feelings or biases.

Structuralists

Researchers and theorists who analyze the structure of the mind and consciousness by breaking down mental processes into their basic components.

Introspection

The examination of one's own conscious thoughts and feelings, often used as a method of psychological analysis.

Stimulus

Any incident or condition that prompts a reaction in a living being.