Which of the Following Is True Regarding Estimates of Completion

question 103

Multiple Choice

Which of the following is true regarding estimates of completion of units in a process costing system?

• A) estimating the degree of completion with regards to conversion costs is more of a science than an art
• B) estimating the degree of completion with regards to conversion costs is usually easier and more accurate than estimating the degree of completion with regards to direct materials
• C) estimating the degree of completion with regards to direct materials is usually easier and more accurate than estimating the degree of completion with regards to conversion costs
• D) when estimating degree of completion, the degree of completion with regards to conversion costs is usually a portion similar to the degree of completion with regards to direct materials

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Definitions:

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