The costing method which can be used in industry where the product pass through different processes is known as ________.
A. job costing
B. operating costing
C. batch costing
D. process costing
Answer: Option D
Solution(By Examveda Team)
The costing method which can be used in industry where the product pass through different processes is known as process costing. Process costing is used when there is mass production of similar products, where the costs associated with individual units of output cannot be differentiated from each other.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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