ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
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Week 5DQ 2 Research and Application Week 6DQ 1 Segment Reporting and Relevant Costs Week 6DQ 2 Research and Application Week 7DQ 1 Capital Budgeting Week 7DQ 2 Exam Review ================================================
ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
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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? 2. Question:( TCO F) Process costing would be appropriate for each of the following except: 3. Question:( TCO F) Lucas Company uses the weighted-average method in its process costing system. The company adds materials at the beginning of the process in the Forming Department, which is the first of two stages in its production process. Information concerning operations in the Forming Department in October follows: Units Material Cost Work in process on October 1 6,000 $ 3,000 Units started in October 50,000 $ 25,560 Units completed and transferred to next Department during October 44,000