tb chap 6 - 1. In process costing in a multi-department...

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1. In process costing in a multi-department setting: a. goods are rarely transferred from other departments. b. successor departments always adds additional direct labor. c. raw materials transferred out are considered 100% complete for the transferring department. d. the unit of measure should be the same in the successor department. correct: c 2. Standard costs in a process costing system are: a. reviewed at least once a year to keep the amounts current. b. computed each production period. c. computed the same way as the actual costs. d. All of the choices are correct regarding process costing systems. correct: a 3. The FIFO method does not: a. commingle units and costs of different periods. b. use the work done during the current period to calculate equivalent units of production. c. reflect the way most goods flow through the production system. d. calculate equivalent units of production using started and completed units.
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tb chap 6 - 1. In process costing in a multi-department...

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