In a Process Cost System

question 138

Multiple Choice

In a process cost system

• A) a Work in Process account is maintained for each product.
• B) a materials requisition must identify the job on which the materials will be used.
• C) a Work in Process account is maintained for each process.
• D) one Work in Process account is maintained for all the processes similar to a job order cost system.

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Definitions:

Data

Information collected for reference or analysis, often numerical, that can be used for calculation and statistical study.

Equal

Describes the state of being the same in quantity, size, degree, or value.

Mean

The average of a set of numerical values, calculated by adding them all up and dividing by the number of values.

Equal

Having the same value, quantity, measure, or meaning as another; identical in magnitude or degree.