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