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Unformatted text preview: Correct. A major purpose of cost accounting is to measure, record, and report product costs. measure, record, and report period costs. classify all costs as operating or nonoperating. provide information to stockholders for investment decisions. Correct. Which of the following would be accounted for using a job order cost system? The construction of a new campus building. The production of personal computers. The production of automobiles. The refining of petroleum. Correct. When a job is completed and all costs have been accumulated on a job cost sheet, the journal entry that should be made is Finished Goods Inventory Work In Process Inventory Raw Materials Inventory Work In Process Inventory Work In Process Inventory Direct Materials Direct Labor Manufacturing Overhead Finished Goods Inventory Direct Materials Direct Labor Manufacturing Overhead Correct....
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- Fall '09