HW 4 ANSWERS - Universidad Iberoamericana UNIBE 1. A...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Universidad Iberoamericana UNIBE 1. A product-costing system is needed for which of the following? a. Financial accounting b. Managerial accounting c. Cost management d. Report to interested organizations e. All of the above Product costs are needed for a variety of purposes in financial accounting, managerial accounting, and cost management as well as reports to interested organizations. 2. Which of the following businesses is most likely to use a process costing system? a. Custom cabinet-maker b. Ship builder c. Print shop d. Petroleum refinery e. None of the above A process costing system is used where a large number of identical (homogeneous) items are produced. A custom cabinet-maker would most likely use a job-order costing system, as would a ship builder and a print shop. 3. Which of the following is a source document? a. Bill of materials b. Material requisition form c. Job-cost records d. Both (B) and (C) e. Both (A) and (C)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/10/2011 for the course ECON 123 taught by Professor Other during the Spring '11 term at Pontificia Universidad Catolica Madre y Maestra.

Page1 / 3

HW 4 ANSWERS - Universidad Iberoamericana UNIBE 1. A...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online