- 1 Marks
MI – May 2024 – L1 – SA – Q10 – Costing Methods
Identifies a statement that is NOT a common feature of process costing systems.
Question
There are common features in most process costing systems. Which of the following is NOT one of the common features? A. Clearly defined process cost centres and the accumulation of all costs
B. Maintenance of accurate records of units and part units produced and the cost incurred by each process
C. Averaging of the prime costs of each process over the total production of that process, excluding partly completed units
D. Charging of the cost of the input of one process as the raw materials input of the following process
E. Clearly defined procedures for separating costs where the process produces two or more products
Find Related Questions by Tags, levels, etc.
- Tags: Common Features, Cost Accumulation, Prime Costs, Process Costing
- Level: Level 1
- Topic: Costing Methods
- Series: MAY 2024
- 1 Marks
MI – May 2024 – L1 – SA – Q10 – Costing Methods
Identifies a statement that is NOT a common feature of process costing systems.
Question
There are common features in most process costing systems. Which of the following is NOT one of the common features? A. Clearly defined process cost centres and the accumulation of all costs
B. Maintenance of accurate records of units and part units produced and the cost incurred by each process
C. Averaging of the prime costs of each process over the total production of that process, excluding partly completed units
D. Charging of the cost of the input of one process as the raw materials input of the following process
E. Clearly defined procedures for separating costs where the process produces two or more products
Find Related Questions by Tags, levels, etc.
- Tags: Common Features, Cost Accumulation, Prime Costs, Process Costing
- Level: Level 1
- Topic: Costing Methods
- Series: MAY 2024