Which of the Following Statements About Job-Order Costing and Process

question 87

Multiple Choice

Which of the following statements about job-order costing and process costing is TRUE?

• A)Process costing uses a single work-in-process account and job-order costing uses multiple work-in-process accounts.
• B)Job-order costing uses a single work-in-process account for each job and process costing uses one work-in-process account for each process.
• C)Process costing is used for products that are easily separated and individually identifiable.
• D)Both process costing and job-order costing use a single work-in-process account.

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Definitions:

Sales Revenue

The total amount of money generated from sales of goods or services before any expenses are subtracted.

Unit Sales

A measure of the total quantity of products sold by a company, not taking into account the revenue generated from these sales.

Drugstore Channel

A distribution channel that includes pharmacies and drugstores, through which healthcare products, medications, and various retail goods are sold.

Flavors Carried

The variety or range of tastes offered by a food or beverage product, indicating the different options available to consumers.