The costing system, which is a combination of process costing and job costing system, is classified as __________?
Correct answer: C. hybrid costing system
- A. weighted costing system
- B. average costing system
- C. hybrid costing system
- D. double costing system
Explanation
A hybrid costing system combines job costing for identifiable batches or jobs with process costing for standardized production stages. Therefore, it is also called a combination of job and process costing.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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