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Cost System Quiz

The main purpose of cost accounting is to

The cost expended in the past that cannot be retrieved on product or service

A disadvantage of an hourly wage plan is that it

For which one of the following industry would you recommend a Process Costing system?

Percentage of Margin of Safety can be calculated in which one of the following ways?

____ needs further processing to improve its marketability.

The combination of direct material and direct labor is

An industry that would most likely use process costing procedures is

For which one of the following industry would you recommend a Job Order Costing system?

The difference between total revenues and total variable costs is known as

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