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The cost of manufacturing equipment is recognized as an expense
Select one:
A. when equipment depreciation is recorded.
B. when inventory processing is completed and finished goods are recorded.
C. when finished goods inventory is sold.
D. none of the above.
The method of accounting for inventory that assigns all manufacturing costs to inventory is sometimes referred to as
Select one:
A. absorption costing.
B. prime costing.
C. FIFO.
D. the weighted average cost method.
Which of the following is not a record required for operating a job cost system?
Select one:
A. Job cost sheets
B. Equivalent units calculations
C. Materials requisition forms
D. Production orders
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