Which of the Following Costing Systems Assigns Actual Costs of Materials

question 96

Multiple Choice

Which of the following costing systems assigns actual costs of materials to inventory?

• A)actual costing system
• B)normal costing system
• C)standard costing system
• D)both a and b

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Definitions:

Occupied Space

Occupied space refers to the area within a property or facility that is currently being used or rented out, as opposed to areas that are vacant or unused.

Administrative Costs

Expenses related to the general operation of a business, including salaries of non-sales personnel, rent, utilities, and office supplies.

Maintenance Fees

Charges incurred for the upkeep or repair of property, equipment, or software to ensure operational efficiency and longevity.

Advertising Expense

The cost associated with promoting a business, product, or service, including media buys, production costs, and agency fees.