Managerial accounting

posted by .

What is the method of inventory costing that assumes the unit product costs should be determined separately for each period i the order in which the costs were incurred? I think it is "process cost system". Is that right?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. ACC

    someone help me with this questions please 1. How would the following costs be classified (product or period) under variable costing at a retail clothing store?
  2. accounting

    True/Falses 1. Period costs are not considered when costing products for inventory. 2. All direct labor costs during a period of time should be considered product costs and should be temporarily accumulated in the work in process inventory …
  3. accounting

    Multiple choice 1. The type of product costing system used by a company is dictated by the : a) plant supervisor b) project manager c) company president d) production process 2. Activity based costing traces production costs to a) …
  4. operations management

    A company requires 5,000 units of a product in a single year. It costs them $100 per order for expenses such as transportation and communication. If the product is carried in inventory, the carrying cost equals 1% of the price of the …
  5. accounting

    Hanson Company uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 17,000 units in its beginning work in process inventory that were 60% complete …
  6. Accounting for Managers

    Question 11 of 20 5.0 Points Which of the following accurately describes a difference between job order and process costing systems?
  7. Accounting for Managers

    Question 1 of 20 5.0 Points Which of the following products probably would be manufactured using a job order costing system?
  8. Accounting Math

    A standard costing system is the traditionally used costing system. It has two main purposes: cost control and product costing. Standard costs are determined by accountants working together with other employees of the organization. …
  9. mult choice / accounting

    A department transferred 7,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 500 units were still in process at the end of the month. Equivalent production for the month …
  10. Accounting

    Hanover Corp. obtained the following information from its absorption costing accounting records: Operating Income = $24,000 Total Product Costs Incurred During The Period = $16,000 Value of Beginning Work-In-Process and Finished Goods …

More Similar Questions