Chapter 3 Flashcards
1
Q
A costing system used in situations where many different products, jobs, or
services are produced each period is known as
A
Job-order costing
2
Q
A costing method that includes all manufacturing costs—direct materials, direct labor, and both variable and fixed manufacturing overhead—in the cost of a product. All product costs are absorbed into
the cost of the product.
A
Absorption Costing
3
Q
A
