Which Costing System Is Generally Used by Companies Producing High

question 109

Multiple Choice

Which costing system is generally used by companies producing high value,customized products?

• A)a process costing system.
• B)a variable costing system.
• C)a job costing system.
• D)a direct costing system.

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Definitions:

Shortages

A situation in which the demand for a product or service exceeds the supply available at a particular price.

Quantity Supplied

Refers to the amount of a good or service that producers are willing and able to sell at a given price during a specific period.

Quantity Demanded

The amount of a good that buyers are willing and able to purchase at a specific price.

Quantity Demanded

The overall volume of a commodity or service that consumers are ready and able to buy at a certain price within a market.