Reference no: EM131059746

Question 1. 1. Production of a custom home is not an application that can be accounted for using job costing.

True
False

Question 2. A logical starting point for costing a job is to determine the amount of direct labor that is attributable to a specific job.

True
False

Question 3. The main difference between job costing and process costing is that process costing captures costs by process or department rather than by specific job.

True
False

Question 4. A cost of production report is generally prepared for each period under job costing.

True
False

Question 5. ABC costing requires one to abandon attempts to distinguish product and period costs.

True
False