Which of the following statements is false with respect to job-order costing and process costing? Multiple Choice O Both systems assign materials, labor, and manufacturing overhead costs to products. Both systems compute unit product costs by department. Both systems use the same basic manufacturing accounts, including Manufacturing Overhead, Raw Materials, Work In Process, and Finished Goods. The flow of costs through the manufacturing accounts is basically the same in both systems.

Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.

Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing …

Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In compari…