Indicate Whether Each of the Following Items Applies To: (A)

question 10

Short Answer

Indicate whether each of the following items applies to: (a) process costing only, (b) job costing only, (c) both process and job costing or (d) neither process nor job costing.
1. Accounts like "cost of goods sold" and "manufacturing overhead" included in the AIS.
2. Can incorporate separation of duties.
3. Costs reported in financial statements.
4. Documents include materials requisitions and labor time tickets.
5. Emphasizes difference.
6. Equipment purchases debited to direct materials.
7. Flowcharts of production processes look alike in many different organizations.
8. General ledger would contain accounts like "painting" and "finishing".
9. Products look alike.
10. Summarizes information with a production cost report.