Quiz 12 - costing A hybrid costing system often used in...

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Question 1 4.5 out of 4.5 points Match definitions below: Answer Question Correct Match Continuous flow processing A system that generally mass- produces a single, homogeneous output in a continuing process. Cost management system A system that provides information about the costs of processes, products, and services used and produced by an organization. Job Units of a product that are easily Job costing An accounting system that traces costs to individual units or to specific jobs, contracts, or batches of goods. Operation A standardized method or technique of making a product that is repetitively performed. Operation
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Unformatted text preview: costing A hybrid costing system often used in manufacturing goods that have some common characteristics plus some individual characteristics. Predetermined overhead rate Represents the cost per unit of the allocation base used to charge manufacturing overhead to products and is calculated from the budgeted data. Process costing An accounting system used when identical units are produced through a series of uniform production steps. Two-stage cost allocation The process of first allocating costs to intermediate cost pools and then to the individual cost objects using different allocation bases....
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This note was uploaded on 11/11/2011 for the course COST ACCOU 101 taught by Professor Dennis during the Spring '11 term at Post.

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Quiz 12 - costing A hybrid costing system often used in...

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