Assume a Company Uses Process Costing and Has Several Processing

question 73

Multiple Choice

Assume a company uses process costing and has several processing departments.When goods are transferred from Department X to Department Y,the journal entry requires a Debit to ________ and a Credit to ________.

• A) Work-In-Process Inventory-Department X; Work-In-Process Inventory-Department Y
• B) Finished Goods Inventory; Work-In-Process Inventory-Department Y
• C) Cost of Goods Sold; Finished Goods Inventory
• D) Work-In-Process Inventory-Department Y; Work-In-Process Inventory-Department X

---

Definitions:

Implement the Decision

The process of carrying out choices or plans of action to achieve a desired goal.

Preferred Course of Action

The most favorable or desirable path to take in making a decision or solving a problem.

Decision-making Process

A step-by-step approach to making choices or solving problems, ranging from gathering information to evaluating alternatives and making the final choice.

Implemented Solutions

Strategies or methods that have been put into action in order to address and solve specific problems or challenges.