Which of the following represents the product costs on the income statement?

a. Cost of goods sold

b. Sales revenue

c. Sales commissions

d. None of these

In which of the following situations should a company use process costing rather than job order costing?

a. If the product cost is accumulated in a single Work in Process Inventory account

b. If the product is produced based on individual customer specifications

c. If the product is composed of mass-produced homogeneous units

d. If the product goes through a single stage of production