In Backflush Costing, Any Remaining Balance in the Conversion Costs

question 35

Multiple Choice

In backflush costing, any remaining balance in the conversion costs account at the end of an accounting period is charged to:

• A) Work- in- Process Inventory
• B) Finished- Goods Inventory
• C) Cost of Goods Sold
• D) Cost of Goods Sold, WIP Inventory, and Finished- Goods Inventory proportionately

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Definitions:

Organelles

Organelles are specialized structures within a cell that perform distinct processes necessary for the cell's life functions, such as mitochondria, ribosomes, and the nucleus.

Nonreproductive

Referring to functions, behaviors, or organs not directly involved in the process of reproduction.

Interphase

The state of a cell carrying out its normal daily functions and not dividing.

Atoms

The basic unit of a chemical element, consisting of a nucleus of protons and neutrons, and electrons orbiting the nucleus.