The two basic types of cost accounting systems are _____

Business Dec 10, 2020

The two basic types of cost accounting systems are _____.

a. job order and job accumulation systems

b. job order and process cost systems

c. process cost and batch systems

d. job order and batch systems

Expert Solution

The correct answer is b. job order and process cost systems.

The job order costing system is best suited for products which are highly customized and low-volume in nature, whereas process costing is useful for products that are produced in large batches and are homogenous in nature.

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