Question
1. A cost of production report in a process cost system is a managerial accounting report that describe: a. The costs charged to a department
1. A cost of production report in a process cost system is a managerial accounting report that describe:
a. The costs charged to a department
b. The equivalent units of production by the department
c. How the costs were assigned to the putput
d. Physical transfers out of a department
e. All of the above
2. Which of the following characteristics applies to process cost accounting and not to job order cost accountig
a. Use of a predetermined overhead rate
b. Identifiable losts of production
c. Equivalent units of production
d. Labor time ticket for each employee
e. use of a single Goods in Process account
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