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Question

Mr. A is addressing to a the costing technique of his product to Mr. C and says “Here the cost of completing each stage of work is ascertained, like cost of making pulp and cost of making paper from pulp.” Which type of costing technique is he referring to?

A Job Costing Correct Answer Incorrect Answer
B Batch Costing Correct Answer Incorrect Answer
C Contract Costing Correct Answer Incorrect Answer
D Process Costing Correct Answer Incorrect Answer
E Standard Costing Correct Answer Incorrect Answer

Solution

In process costing, the cost of completing each stage of work is ascertained, like cost of making pulp and cost of making paper from pulp. In mechanical operations, the cost of each operation may be ascertained separately. 

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