Which of the Following Is Unique to a Process Costing

question 103

Multiple Choice

Which of the following is unique to a process costing system?

• A) Each process has its own WIP account.
• B) Direct materials, direct labour and manufacturing overhead are assigned to the first department only.
• C) Costs for each process stay with that process until the goods are moved to finished goods.
• D) Work is not started on a product until an order is received.

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Definitions:

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Primary Sector

The primary sector of the economy involves extracting and harvesting natural resources, such as agriculture, mining, forestry, and fishing.

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A system of production, distribution, and consumption of goods and services within a particular territory or entity.

Logging Company

A business involved in cutting down trees, processing timber, and possibly engaging in forestry management and sales of wood products.