Question

Which one of the following is the approach that is taken to full costing where all...

Which one of the following is the approach that is taken to full costing where all of the units of output are identical?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Process Costing : Processs Costing is one of the methods of costing which accumulats all the direct costs and alloactes the indirect costs to the products. In process costing, the costs are ascertained at each level of processing which are manufactured at large quantities. Process costing is used in the industries where the products produced are identical and have a continuous process or repetitive process.

Hence the approach that is taken to full costing where all of the units of output are identicla is Process Costing.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A manufacturing company using full-absorption costing can increase net income by which of the following. A)...
A manufacturing company using full-absorption costing can increase net income by which of the following. A) Increasing production and increasing ending inventory at the end of the year. B) Decreasing the inventory C) Writing ending inventory down to its fair value. D) All of the above.
Which one of the following is a costing system commonly used by companies that produce a...
Which one of the following is a costing system commonly used by companies that produce a large number of homogeneous units in a continuous production process? A. Process costing system B. Incremental analysis cost system C. Unit costing system D. Job-order system
1. Which of the following procedures best describes activity-based costing? Select one: A. All overhead costs...
1. Which of the following procedures best describes activity-based costing? Select one: A. All overhead costs are recorded as expenses as incurred. B. Overhead costs are assigned to departments; then costs are assigned to products. C. Overhead costs are assigned directly to products. D. Overhead costs are assigned to activities; then costs are assigned to products. 2. Which of the following product costing methods produces the most precise product costing information? Select one: A. Activity-based costing B. Departmental overhead rate...
List one situation where the skills approach of leadership will work. List one situation where the...
List one situation where the skills approach of leadership will work. List one situation where the skills approach of leadership will not work.
Which of the following statements is false regarding absorption costing? Multiple Choice It assigns all manufacturing...
Which of the following statements is false regarding absorption costing? Multiple Choice It assigns all manufacturing costs, both fixed and variable, to units of product. It is typically used for external financial reporting. It relies on a predetermined overhead rate to apply direct material cost to units of product. It treats all nonmanufacturing costs as period costs.
Which of the following are advantages of an activity-based costing approach to cost volume profit (CVP)...
Which of the following are advantages of an activity-based costing approach to cost volume profit (CVP) analysis as compared to a CVP analysis based on traditional product costing? Select one: a. Fixed costs are viewed as fixed only with respect to changes in sales and production volume, but not as fixed with respect to changes in other cost drivers such as number of set-ups and number of material moves. b. The assumption in traditional CVP analysis that sales and production...
In which context is full (absorption) costing LEAST likely to be used? a.Financial reporting. b.Managerial accounting....
In which context is full (absorption) costing LEAST likely to be used? a.Financial reporting. b.Managerial accounting. c.Income tax returns. d.It must be used in all of the above situations.
Consider the following code segment, where the branch is taken 30% of the time and not-taken...
Consider the following code segment, where the branch is taken 30% of the time and not-taken 70% of the time. R1 = R2 + R3 R4 = R5 + R6 R7 = R8 + R9 if R10 = 0, branch to linex R11 = R12 + R13 R14 = R11 + R15 R16 = R14 + R17 ... linex: R18 = R19 + R20 R21 = R18 + R22 R23 = R18 + R21 ... Consider a 10-stage in-order processor,...
Which one of the following is the main difference between traditional product costing and activity-based costing?...
Which one of the following is the main difference between traditional product costing and activity-based costing? Question 13 options: The inclusion of direct materials and overhead expenses The exclusion of selling and administrative expenses The inclusion of selling and administrative expenses The exclusion of direct materials and overhead expenses
Which social structure theory best suppports the social approach? Which one supports the responsibility approach?
Which social structure theory best suppports the social approach? Which one supports the responsibility approach?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT