What Types of Costs Are Incurred in a Process Costing

question 38

Multiple Choice

What types of costs are incurred in a process costing system?

• A)Direct material and direct labor
• B)Direct labor and manufacturing overhead
• C)Manufacturing overhead and direct material
• D)Direct material,direct labor and manufacturing overhead

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

Analyze the role of government and non-governmental organizations in the advancement of public health.

Identify key figures and their contributions to public health and nursing.

---

Definitions:

Materials

The raw items and components used in the production of goods.

Process Costing

An accounting methodology used for homogeneous products, attributing costs to units of product through an average or a similar method.

Conversion Costs

The combined costs of direct labor and manufacturing overhead expenses, representing the costs necessary to convert raw materials into finished goods.

Equivalent Unit

A concept used in cost accounting to convert partially completed goods into a number of complete units of output, allowing for a consistent measure of output.