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Under a job order cost system , costs are assigned to each job or to each batch of goods .
A process cost system is used when a company manufactures a large volume of unique products .
The two major steps in the job order cost flow are 1 ) accumulating the manufacturing costs incurred and 2 ) assigning the accumulated costs to the work done .
Process cost systems are used to apply costs to unique products produced individually .
Which of the following items is not a characteristic of a process cost system ?
Fewer materials requisitions are generally required in a process cost system than in a job order cost system .
Traditional costing systems group costs according to activity cost pools .
When is it appropriate to use direct labor as a basis for assigning overhead costs to products ?
How many steps are involved in activity-based costing ?
An activity that adds costs to the product but does not increase its market value is a
A variable cost is a cost that