Financial Accounting > EXAM > ACCT 505 QUIZ 1 WEEK 2 | GRADED A (All)
ACCT 505 QUIZ 1 WEEK 2 | GRADED A
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1. Question : (TCO F) For which situation(s) below would an organization be more likely to use a job-order costing system of accumulating product costs rather than a process costing system? A s... teel factory that processes iron ore into steel bars A factory that processes sugar and other ingredients into black licorice A costume maker that makes specialty costumes for figure skaters All of these Ques custom furniture manufacturing. oil refining. grain milling. newsprint production. Question 3. Question : (TCO F) Unizat Corporation uses the weighted-average method in its process costing system. The following information pertains to one of the company's processing departments for a recent month: Units Material Cost Beginning work in process 30,000 $22,000 Started during the month 80,000 $72,000 Units completed 85,000 Ending work in process 25,000 All materials are added at the beginning of the process. The cost per equivalent unit for materials is closest to: [Show More]
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