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Identify which costing method is described in the statements below by marking an "X" in the ...

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Identify which costing method is described in the statements below by marking an "X" in the ...

Identify which costing method is described in the statements below by marking an "X" in the appropriate column (some items may apply to both).

	Process	Job-Order
Accumulates cost by department
Manufacturing costs include direct material, direct labor, and manufacturing overhead
Many different products produced, each with different materials, labor, and/or manufacturing overhead requirements
Key document is job cost sheet
Accumulates cost by job
Cost flows from Raw Materials to Work in Process to Finished Goods to Cost of Goods Sold
Requires calculation of equivalent units
Key document is department production report
Identical products produced over a long period, often in a continuous production process

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

Read 26 times

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lpn27 Author

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Correct

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Just got PERFECT on my quiz

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this is exactly what I needed

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