Answer the following questions.1. Job order and process costing procedures are used by different types of industries. Discuss theprocedure appropriate for each type

Multiple Select QuestionSelect all that applyThe three types of manufacturing costs in a job order costing system include:Multiple select question.direct laborfinished goodsdirect materialswork in processoverhead

Which of the following statements is not appropriate to job shop production?Group of answer choicesProduct cost is normally high because of high material and labour costsCost of production is low owing to the rate of productionIn process inventory will usually be high as accurate plans and schedules is difficult to achieveMaterial handling systems are also flexible to meet changing product requirementsLabour force should be skilled enough to deal with work conditionsNext

What are the major characteristics of process costing system? The main characteristics of processcosting system may be summarized as follows:1. A cost of production report is used to collect, summarize and compute total and unit costs.2. Production is accumulated and reported by departments.3. Costs are posted to departmental work in process accounts.4. Production in process at the end of a period is restated in terms of completed units.5. Total cost charged to a department is divided by total computed production of thedepartment in order to determine a unit cost for a specific period.6. Costs of completed units of a department are transferred to the next processingdepartment in order to arrive at the total costs of the finished products during a period. Atthe same time, costs are assigned to units still in process

The correct order of cost flows in a job order costing system is:Multiple choice question.work in process; finished goods, cost of goods soldcost of goods sold, work in process, finished goodsfinished goods, work in process; cost of goods soldcost of goods sold, finished goods, work in process

During the steps followed while allocating costs according to the job costing method, what would the primary apportionment step of the process usually entail?Group of answer choicesA. The apportionment of overhead costs to the various production and service departmentsB. The reapportionment of overhead costs incurred by service departments to various production departments that have made use of their servicesC. Totaling the overhead costs for each production department and apportioning it accordinglyD. Calculating the overhead absorption rates for each production department involved and apportioning it accordingly