Give three examples of industries that use process-costing systems.

Question

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Answer 1

Textbook Question

Chapter 17, Problem 17.1Q

Give three examples of industries that use process-costing systems.

Expert Solution & Answer

To determine

To identify: The examples of industries that use process-costing systems.

Explanation of Solution

Process Costing:

Process costing is a tool used to ascertain the cost incurred by the business at each level of production. It is also used as a cost control technique.

Explanation:

Examples of industries that use process-costing systems are:

Chemical processing.
Food production.
Oil refining.
Plastics
Brick and tile manufacturing.
Process cost system is used by the businesses which produce homogeneous goods like bricks manufacturer.
It is beneficial for the businesses where mass production is done through a similar process.

Conclusion

Hence, the chemical processing, food production and oil refining are some examples of industries that use process-costing systems.

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02:04

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Answer 2

Textbook Question

Chapter 17, Problem 17.1Q

Give three examples of industries that use process-costing systems.

Expert Solution & Answer

To determine

To identify: The examples of industries that use process-costing systems.

Explanation of Solution

Process Costing:

Process costing is a tool used to ascertain the cost incurred by the business at each level of production. It is also used as a cost control technique.

Explanation:

Examples of industries that use process-costing systems are:

Chemical processing.
Food production.
Oil refining.
Plastics
Brick and tile manufacturing.
Process cost system is used by the businesses which produce homogeneous goods like bricks manufacturer.
It is beneficial for the businesses where mass production is done through a similar process.

Conclusion

Hence, the chemical processing, food production and oil refining are some examples of industries that use process-costing systems.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

02:04

Answer 3

Textbook Question

Chapter 17, Problem 17.1Q

Give three examples of industries that use process-costing systems.

Expert Solution & Answer

To determine

To identify: The examples of industries that use process-costing systems.

Explanation of Solution

Process Costing:

Process costing is a tool used to ascertain the cost incurred by the business at each level of production. It is also used as a cost control technique.

Explanation:

Examples of industries that use process-costing systems are:

Chemical processing.
Food production.
Oil refining.
Plastics
Brick and tile manufacturing.
Process cost system is used by the businesses which produce homogeneous goods like bricks manufacturer.
It is beneficial for the businesses where mass production is done through a similar process.

Conclusion

Hence, the chemical processing, food production and oil refining are some examples of industries that use process-costing systems.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

02:04

Answer 4

Textbook Question

Chapter 17, Problem 17.1Q

Give three examples of industries that use process-costing systems.

Expert Solution & Answer

To determine

To identify: The examples of industries that use process-costing systems.

Explanation of Solution

Process Costing:

Process costing is a tool used to ascertain the cost incurred by the business at each level of production. It is also used as a cost control technique.

Explanation:

Examples of industries that use process-costing systems are:

Chemical processing.
Food production.
Oil refining.
Plastics
Brick and tile manufacturing.
Process cost system is used by the businesses which produce homogeneous goods like bricks manufacturer.
It is beneficial for the businesses where mass production is done through a similar process.

Conclusion

Hence, the chemical processing, food production and oil refining are some examples of industries that use process-costing systems.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

02:04

Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

To identify: The examples of industries that use process-costing systems.

Explanation of Solution

Process Costing:

Process costing is a tool used to ascertain the cost incurred by the business at each level of production. It is also used as a cost control technique.

Explanation:

Examples of industries that use process-costing systems are:

Chemical processing.
Food production.
Oil refining.
Plastics
Brick and tile manufacturing.
Process cost system is used by the businesses which produce homogeneous goods like bricks manufacturer.
It is beneficial for the businesses where mass production is done through a similar process.

Conclusion

Hence, the chemical processing, food production and oil refining are some examples of industries that use process-costing systems.

Answer 8

Expert Solution & Answer

To determine

To identify: The examples of industries that use process-costing systems.

Explanation of Solution

Process Costing:

Process costing is a tool used to ascertain the cost incurred by the business at each level of production. It is also used as a cost control technique.

Explanation:

Examples of industries that use process-costing systems are:

Chemical processing.
Food production.
Oil refining.
Plastics
Brick and tile manufacturing.
Process cost system is used by the businesses which produce homogeneous goods like bricks manufacturer.
It is beneficial for the businesses where mass production is done through a similar process.

Conclusion

Hence, the chemical processing, food production and oil refining are some examples of industries that use process-costing systems.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

To identify: The examples of industries that use process-costing systems.

Answer 12

Explanation of Solution

Process Costing:

Process costing is a tool used to ascertain the cost incurred by the business at each level of production. It is also used as a cost control technique.

Explanation:

Examples of industries that use process-costing systems are:

Chemical processing.
Food production.
Oil refining.
Plastics
Brick and tile manufacturing.
Process cost system is used by the businesses which produce homogeneous goods like bricks manufacturer.
It is beneficial for the businesses where mass production is done through a similar process.