Accounting 202 - Chapter 3. 1 Review Test Quiz There are two different types of cost systems. These systems help a manufacturing company to know which products are profitable to make and those that are not. These costing systems are beneficial as they increase the profitability of a business. Take up the quiz below to see what more you can recall on the topic.
Job costing and process costing
Periodic costing and perpetual costing
Product costing and materials inventory costing
Periodic costing and process costing
Job costing
Process costing
Either job or process
Both job and process
Job costing
Process costing
Either job or process
Both job and process
Labor time record
Materials inventory requisition form
Job cost record
Bill of materials
Raw materials records
Bill of materials
Materials requisition
Labor time record
Receiving report
Bill of materials
Materials requisition
Purchase order
Cost of goods sold
Finished goods inventory
Manufacturing overhead
Work in process inventory.
Job cost record
Process costing
Labor time record
Job costing
Job cost record
Bill of materials
Labor time record
Production schedule
Cost of goods sold
Finished goods inventory
Raw materials inventory
Work in process inventory
Cost of goods sold
Finished goods inventory
Raw materials inventory
Work in process inventory