You are watching: Which of the following is a true statement about process cost systems?
In a process cost system,A. A products requisition must determine the project on which the materials will be used.B. A work in process account is preserved for each process.C. One job-related in process account is preserved for all the processes, similar to a task order cost system.D. A occupational in process account is maintained for each product.
Which that the adhering to manufacturing cost aspects occurs in a procedure cost system?A. Manufacturing overhead.B. All of these.C. Direct materials.D. Straight labor.
Which of the complying with is a true statement about procedure cost systems?A. A process cost system has actually one work-related in procedure account for each process.B. Unit expenses are not computed in process cost systems.C. In procedure cost systems, costs are summarized on job cost sheets.D. In process cost systems, expenses are accumulated but no assigned.
The flow of expenses in a process costing device requires that materials be added in one department, labor included in an additional department and manufacturing overhead in a third department.A. TrueB. False
A major driver that overhead prices in consistent manufacturing work is:A. Straight labor hours.B. Maker maintenance dollars.C. Device hours. D. Straight labor dollars.
In computing equivalent units, ___________ is not component of the indistinguishable units of production formula. A. Finishing work in processB. Units moved outC. Start work in processD. Nobody of these is correct
The last step in preparing a production cost report is toA. Prepare a cost reconciliation schedule.B. Compute tantamount units the production.C. Compute unit production costs.D. Compute the physics unit flow.
Denton agency had the adhering to department details for the month of September: total materials costs, $50,000; identical units that materials, 20,000; total conversion costs, $30,000; and also equivalent devices of conversion costs, 10,000. What is the total manufacturing cost per unit because that the month of September?A. $2.67.B. $2.50.C. $3.00.D. $5.50.
D. $5.50.Unit materials expense ($2.50) = full materials cost ($50,000) ÷ indistinguishable units of materials (20,000). Unit conversion expense ($3.00) = complete conversion prices ($30,000) ÷ equivalent units that conversion prices (10,000). Complete manufacturing expense per unit ($5.50) = Unit materials price ($2.50) + unit conversion cost ($3.00).
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In the production price report, the totalA. Prices accounted for amounts to the costs of the systems started into production.B. Physical devices accounted for equates to the costs accounted for.C. Prices charged amounts to the systems to be accounted for.D. Physical units accounted for equals the units to be accounting for.