The hybrid costing system, which is applied to batches of similar products, but are not identical is classified as ____________?
Correct answer: C. operation costing systemAccounting & Auditing
- A. incremental costing system
- B. split off costing system
- C. operation costing systemAccounting & Auditing
- D. inventoriable costing system
Explanation
Operation costing is a hybrid of job-order and process costing used for batches of similar but non-identical products. It applies process costing to common operations and job costing to batch-specific features.
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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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