Final answer:
The false statement among the options provided is that job cost information is not useful for assessing the profitability of different products; in fact, job cost information is essential in determining the profitability by comparing costs to revenues.
Step-by-step explanation:
When considering the question, "Which of the following is false?", it is important to address each statement individually:
- Direct costing focuses on only the direct costs found on the job cost record. (This statement is generally true as direct costing considers direct materials, direct labor, and other costs directly tied to the production of goods.)
- Job cost information is not useful for assessing the profitability of different products. (This statement is false. Job cost information is very important for determining the profitability of specific products or jobs by comparing the costs incurred to the revenue generated.)
- Non-manufacturing costs can be assigned to jobs only for internal decision making, never for external financial reporting. (This statement is true as external financial reporting generally requires costs to be reported according to accounting standards which often do not allow non-manufacturing costs to be directly assigned to products or jobs.)
- A cost-plus price is determined by adding a mark up to the cost. (This statement is true and reflects a pricing strategy where a fixed percentage is added to the production cost to determine the sales price.)
Therefore, the false statement among the options given is (b.) Job cost information is not useful for assessing the profitability of different products.