Question 21 (1 point) A major purpose of cost accounting is to classify all costs as operating or nonoperating measure, record, and report period costs provide information to stockholders for investment decisions measure, record, and report product costs Question 22 (1 point) The two basic types of cost accounting systems are job order and job accumulation systems job order and process cost systems process cost and batch systems job order and batch systems Question 23 (1 point) Process costing is used when the production process is continuous production is aimed at filling a specific customer order dissimilar products are involved costs are to be assigned to specific jobs Question 24 (1 point) An important feature of a job order cost system is that each job must be similar to previous jobs completed has its own distinguishing characteristics must be completed before a new job is accepted consists of one unit of output Question 25 (1 point) If the manufacturing overhead costs applied to jobs worked on were greater than the actual manufacturing costs incurred during a period, overhead is said to be underapplied overapplied in error prepaid

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Question 21 (1 point) A major purpose of cost accounting is to classify all costs as operating or nonoperating  measure, record, and report period costs  provide information to stockholders for investment decisions  measure, record, and report product costs  Question 22 (1 point) The two basic types of cost accounting systems are job order and job accumulation systems  job order and process cost systems  process cost and batch systems  job order and batch systems  Question 23 (1 point) Process costing is used when the production process is continuous  production is aimed at filling a specific customer order  dissimilar products are involved  costs are to be assigned to specific jobs  Question 24 (1 point) An important feature of a job order cost system is that each job must be similar to previous jobs completed  has its own distinguishing characteristics  must be completed before a new job is accepted  consists of one unit of output  Question 25 (1 point) If the manufacturing overhead costs applied to jobs worked on were greater than the actual manufacturing costs incurred during a period, overhead is said to be underapplied  overapplied  in error  prepaid

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Question 21 (1 point) A major purpose of cost accounting is to classify all costs as operating or nonoperating. measure, record, and report period costs.

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