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All of the following statements are correct when referring to process costing except:

A. Process costing would be appropriate for a jeweler who makes custom jewelry to order.
B. A process costing system has the same basic purposes as a job-order costing system.
C. Units produced are indistinguishable from each other.
D. Costs are accumulated by department.

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A process costing system is employed in those situations where:

A. many different products, jobs, or batches of production are being produced each period.
B. where manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis.
C. a service is performed such as in a law firm or an accounting firm.
D. full or absorption cost approach is not employed.

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Which of the following types of companies would typically use process costing rather than job-order costing?

A small appliance repair shop.
B. A manufacturer of commercial passenger aircraft.
C. A specialty equipment manufacturer.
D. A breakfast cereal manufacturer.

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Carrington Corporation produces canned vegetable soup. The company uses the weighted-average method in its process costing system. The company sold 300,000 units in January. Data concerning inventories follow: Inventory at January 1: Work in process............................................................................ None Finished goods............................................................................. 75,000 units Inventory at January 31: Work in process (75% complete with respect to conversion costs)... 24,000 units Finished goods................................................................................. 60,000 units What were the equivalent units for conversion costs for January?

A. 285,000 units.
B. 303,000 units
C. 300,000 units
D. 309,000 units

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Darden Corporation uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 18,000 units in its beginning work in process inventory that were 10% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $16,200. An additional 84,000 units were started into production during the month. There were 17,000 units in the ending work in process inventory of the Welding Department that were 70% complete with respect to conversion costs. A total of $836,880 in conversion costs were incurred in the department during the month.The cost per equivalent unit for conversion costs for the month is closest to:

A. $8.286
B. $9.000
C. $8.804
D. $9.963

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All of the following statements are correct when referring to process costing except:

A. Process costing would be appropriate for a jeweler who makes custom jewelry to order. B. A process costing system has the same basic purposes as a job-order costing system. C. Units produced are indistinguishable from each other. D. Costs are accumulated by department.

A process costing system is employed in those situations where:

Which of the following types of companies would typically use process costing rather than job-order costing?

A. Process costing would be appropriate for a jeweler who makes custom jewelry to order.
B. A process costing system has the same basic purposes as a job-order costing system.
C. Units produced are indistinguishable from each other.
D. Costs are accumulated by department.