Costing system, which is a combination of process costing and job costing system is classified as
A. weighted costing system
B. average costing system
C. hybrid costing system
D. double costing system
Answer: Option C
Solution(By Examveda Team)
Costing system, which is a combination of process costing and job costing system is classified as hybrid costing system. Hybrid costing is used to separate costs and allocate costs to individual products or groups of products.Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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