Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

A process cost system is employed in those situations where:

a) full or absorption cost approach is not employedb) a service is performed such as in a law firm or an accounting firm

c) where manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis

d) many different products, jobs, or batches of production are being produced each period.

user-image
Question added by Mir Mujtaba Ali , Internal Audit Manager , Confidential
Date Posted: 2015/03/02
Almutaz Bakry Sidahmed
by Almutaz Bakry Sidahmed , Internal Audit Manager , Banan real estate

Answer (C) is the correct, appreciate your usual helpfull questions and answers.

Waqayan Al Waqayan
by Waqayan Al Waqayan , Secretary of Sharia Supervisory Board (SSB) , Ahli United Bank (AUB)

c. option is the right answer.

Ahmed kandil
by Ahmed kandil , Cost Controller , Battour Holding Cpompany

answer C is the correct answer 

thank you 

mohamed Hakim CMA CPA Candidate
by mohamed Hakim CMA CPA Candidate , Accounting Manager , Andersen saudi arabia

Answer C  is the right answer

Homogeneous product with nonstop process of production 

 

 

Alex Al Yazouri
by Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

c) >>>>>>>>>>>>>>where manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis

IMRAN ALI MOHAMMED
by IMRAN ALI MOHAMMED , Accounts Officer , M/s. Euro Glazing Ltd

The process cost accounting system is applied where similar units are mass produced. Costs are collected by department and are then assigned to the units produced. So the answer is C

Deleted user
by Deleted user

Answer is

>>C)where manufacturing involves a single,homogeneous product that flows evenly through the production process on acontinuous basis

Deleted user
by Deleted user

Answer C is correct . With homogeneous product .

Khurram Shaukat Memon
by Khurram Shaukat Memon , Academic Research Writer , Freelance Academic Research Writer

Process cost system assumes that cost per unit is same and so is used in industry where homogeneous product flows evenly through production process on a continuous basis.

حسين محمد ياسين
by حسين محمد ياسين , Finance Manager , مؤسسة عبد الماجد محمد العمر للمقاولات العامة

agree with answers C is correct

Md. Moshiur Rahman Sumon
by Md. Moshiur Rahman Sumon , Assistant General Manager( Corporate Finance & Head of Internal Audit) , Progressive Life Insurance Company Limited

C-is the right answer...............................