Which of the Following Is a Similarity Between Job Order

question 40

Multiple Choice

Which of the following is a similarity between job order costing and process costing systems?

• A)Both mass-produce identical products
• B)Both accumulate direct materials,direct labor and manufacturing overhead costs
• C)Both accumulate product cost on a departmental production report
• D)None of these answer choices are similarities between job costing and process costing systems.

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Definitions:

Substitute Goods

Products or services that can be used in place of one another, with their demand being inversely related: as the price of one rises, the demand for the other increases.

Margarine

A butter substitute made from vegetable oils or animal fats, often used in cooking or as a spread.

Inelastic

A characteristic of a good or service whose quantity demanded or supplied changes by a smaller percentage than changes in price.

Sensitive

Capable of perceiving with the senses or responsive to stimuli or changes in the environment.