Every company should record the cost of the items it produces. The costs can be

Question

Every company should record the cost of the items it produces. The costs can be recorded using a process cost system or a job order cost system. Match each description in the following table with the appropriate type of cost accounting system. If the description is applicable to both a process cost system and a job order cost system, check both columns. Fit Right Jeans Company offers custom-made jeans through its website. The customer chooses the style, color, and waist and hip size for each pair of jeans, as well as the inseam length, number and style of pockets, and trim items. True or False: To record production costs, Fit Right Jeans probably uses a job cost sheet.

Explanation / Answer

Company that produces tyre - Process Costing

Inventory may be categoried into raw material , work in prcess , finished goods - job csting and process costing

Summarises product cost - Process Costing

Company that paints advertising on trucks - Job costing

Producces custom products for customers - job Cositng

Product cst are transferred from one department to another - process costing

True.

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