Choose the Most Likely Used Costing System for the Industries

question 72

Multiple Choice

Choose the most likely used costing system for the industries listed below.

-Costing system used by a vitamin manufacturer

• A)Process costing
• B)Job order costing

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Definitions:

Market Wage

The prevailing pay rate for work of a specific nature in a particular geographic area, determined by the supply and demand for labor.

Residential Use

The utilization of property or land for living purposes, such as houses or apartments, as opposed to commercial or industrial use.

Commercial Use

The utilization of something for business purposes or in a commercial setting, often involving profit generation.

Demand Determined

A situation where the quantity of a good or service bought is strictly influenced by consumer demand.