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Which of the following industries is BEST matched with its costing method per ICMAI's reference table?
ASugar — Operating costing
BPrinting — Process costing
CBicycle manufacturing — Multiple costing
DBrick kiln — Job costing
Answer & Solution
Correct answer: C. Bicycle manufacturing — Multiple costing
1. ICMAI's reference table maps each industry to its primary costing method.
2. Bicycle and aircraft manufacturing are listed under Multiple costing (assemblies with components from different methods).
3. Sugar uses Process costing, Printing uses Job costing, Brick kiln uses Single-unit / output costing.
_Source: ICMAI BoS CMA Foundation Paper 2 (Cost Accounting), Module 4 §4.1-4.2 (Methods & Systems of Costing), p. 297-308_
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