Bruce Company Experienced an Event That Affected Its Financial Statements

Multiple Choice

Bruce Company experienced an event that affected its financial statements as indicated below: $\begin{array}{|c|c|c|c|c|c|c|c|c|c|c|c|}\hline & \text { Assets }&&= & \text { Liab. } & + & \text { Equity } & \text { Rev. } & - & \text { Exp. } & = & \text { Net Inc. } \\\hline \text { Mfg. } & + & \text { WIP } & & & & & & & & \\\text { Mixing }& &\text { Packing }\\\hline (10,500) & + & (10,500) &= & \text { NA } & +&\text { NA } &\text { NA } & -&\text { NA }& = & \text { NA }\\\hline\end{array}$ What type of product costing system is being used by this company?

A) Job-order cost system
B) Hybrid cost system
C) Process cost system
D) None of these.