Job-order cost systems are similar to process cost systems except for which of the following?

	A.	Accumulated costs are assigned to the same accounts Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold
	B.	The unit cost is calculated as follows: total manufacturing costs for the period divided by the units produced during the period.
	C.	Costs are accumulated in the same accounts raw materials inventory, factory labour, and manufacturing overhead.
	D.	Both systems track the same cost elements direct materials, direct labour, and manufacturing overhead.

Which of the following items is a characteristic of a job cost system?

	A.	The products produced are heterogeneous in nature.
	B.	Once production begins, it continues until the finished product emerges.
	C.	The focus is on continually producing homogeneous products.
	D.	When the finished product emerges, all units have precisely the same amount of materials, labour, and overhead.

Both direct labor cost and indirect labor cost are product costs.

True

False