In a Job-Order Costing System

question 103

Multiple Choice

In a job-order costing system,

• A)standards cannot be used.
• B)an average cost per unit within a job cannot be computed.
• C)costs are accumulated by departments and averaged among all jobs.
• D)overhead is typically assigned to jobs on the basis of some cost driver.

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Definitions:

Legal Regulations

Legal regulations are the rules and laws that are established by governing bodies to control or govern conduct, usually mandatory in nature and applied across various sectors and activities.

Effective Compensation

A compensation strategy that is competitive, fair, and aligns with the company's goals, effectively motivating and rewarding employees.

Job Evaluation

A systematic process used by organizations to assess the relative value of jobs within the company to determine fair compensation.

External Equity

Perceived fairness in pay relative to what other employers are paying for the same type of work.