Which costing system would better account for a unique individual product?
A) job costing system
B) product costing system
C) process costing system
D) overhead costing system
Answer: A
What are the two basic types of costing systems?
A) product costing and materials inventory costing
B) job costing and process costing
C) periodic costing and process costing
D) periodic costing and perpetual costing
Answer: B
The balance in the Work in Process account equals:
A. the balance in the Finished Goods inventory account.
B. the balance in the Cost of Goods Sold account.
C. the balances on the job cost sheets of uncompleted jobs.
D. the balance in the Manufacturing Overhead account.
Answer: C
