ACC 206 week 3 quiz 1 (All correct)

Question 1. 1. Production of a custom home is not an application that can be accounted for using job costing. (Points : 1)

        True

        False

Question 2. 2. A logical starting point for costing a job is to determine the amount of direct labor that is attributable to a specific job. (Points : 1)

        True

        False

Question 3. 3. The main difference between job costing and process costing is that process costing captures costs by process or department rather than by specific job. (Points : 1)

        True

        False

Question 4. 4. A cost of production report is generally prepared for each period under job costing. (Points : 1)

        True

        False

Question 5. 5. ABC costing requires one to abandon attempts to distinguish product and period costs. (Points : 1)

        True

        False