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Terms in this set (3)a Process costing would be appropriate for each of the following except? b 2. An operation costing system is: b Strap Company uses the weighted-average method in its process costing system. The company has only one processing department. The ending work in process inventory consists of 10,000 units, 60% complete with respect to materials. The total dollar value of this inventory is $38,000. The costs per equivalent unit are $5.00 for materials and $4.00 for conversion costs for the period. With respect to
conversion costs, the ending work in process inventory is: Students also viewedACC302 Chap 9 Li Thuyet15 terms LinhAnh98 ACC302- CHAP 9- T.TÂM82 terms quizlette6841237 Accounting Chapter Four22 terms nicoley137 ch 410 terms Ariyle12345 Sets found in the same folderChap 8 ACC3246 terms quizlette3035412 AC - 2,433 terms quizlette3035412 Thêm =))11 terms quizlette3035412 AC 10,1112 terms quizlette3035412 Other sets by this creatorSỬ DỤNG BẢNG TÍNH CƠ BẢN56 terms quizlette3035412 MÔ ĐUN 03: XỬ LÝ VĂN BẢN CƠ BẢN28 terms quizlette3035412 MÔ ĐUN 02: SỬ DỤNG MÁY TÍNH CƠ BẢN33 terms quizlette3035412 MÔ ĐUN 01: HIỂU BIẾT VỀ CNTT CƠ BẢN34 terms quizlette3035412 Other Quizlet setsFINA 30048 terms Howella1415 Ch. 4 Saha (Final)31 terms limeira89 Unit 5 study guide20 terms Caleb_Scunzio Michael, Inc., uses a process-costing system. A newly hired accountant has identified the following procedures that must be performed by the close of business on Friday: 1—Calculation of equivalent units Which of the following choices correctly expresses the proper order of the preceding tasks? Asked by KidMask500 For which of the following industries would it NOT be appropriate to use process costing? (1 Mark) A. Custom furniture building. B. Oil refining. C. Grain milling. D. Newsprint production Answer & Explanation Solved by verified expert Answered by Nitika0506 Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliq
m ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molesti Unlock full access to Course Hero Explore over 16 million step-by-step answers from our library Subscribe to view answer Step-by-step explanation Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, c sus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. sque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, Which of the following industry does not use the process costing?Answer and Explanation: The correct answer is c. products are heterogeneous. Process costing is not applicable to heterogeneous products because they are unique products.
In which of the following industries would process costing be appropriate?Process costing is widely used in industries such as oil refining, food production, chemical processing, textiles, glass, cement and paint manufacture.
Which of the following can be used in process costing?What are the two methods used in Process Costing? There are three kinds of Process Costing: weighted average, standard, and First-in First-out (FIFO). There is no Last-in, Last-out (LIFO) method of Process Costing, as the basic principle of Process Costing is that the first unit produced is the first unit used.
Which of the following costing method is suitable for soap industry?Process costing is used in such industries. A separate account is opened for each process to find out the total cost as well as cost per unit at the end of each process. Process costing is applied to continuous process industries such as chemicals, textiles, paper, soap, lather etc.
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For which of the following industries would it not be appropriate to use process costing?
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