In process costing each process is treated as a separate………………

Related MCQs

• Process costing is used when output is produced in a continuous process system, and it is difficult to separate individual units of output.
• Job costing is a costing method applied where work is undertaken to customers’ special requirements and each order is of comparatively short duration.
• Batch costing is similar to job costing in that each batch of similar articles is separately identifiable.
• Process costing provides a system of costing where the following characteristics occur. Identify which of the following are correct:
• A job costing system is usually based on absorption costing principles, and in addition a cost is included for non-production overheads.
• The job costing method can therefore be applied in costing batches. The only difference is that a number of items are being costed together as a single unit, instead of a single item or service.
• In Job costing a cost is calculated for each individual job, and this cost can be used to establish the profit or loss from doing the job.
• In job costing each job is given a unique:
• First step in process costing system is to
• Examples of manufacturing where process costing is used include: