[The Following Information Applies to the Questions Displayed Below

question 72

Multiple Choice

[The following information applies to the questions displayed below.]
Evans Products uses a process costing system with two processing departments: the Mixing Department and the Finishing Department.In June,unit costs incurred by the Mixing Department amounted to $4.00 per unit.Unit costs transferred to the finished goods warehouse during the month amounted to $22.Work-in-process inventories are reduced to zero each month.
-The entry to record the sale of 3,500 units in June would include:

• A)A debit to Work-in-Process Inventory,of $77,000.
• B)A debit to Finished Goods Inventory of $77,000.
• C)A debit to Cost of Goods Sold of $77,000.
• D)A credit to Cost of Goods Sold of $77,000.

Identify and apply effective listening techniques.

Differentiate between facts, inferences, and perceptions in communication.

Recognize the importance of feedback in communication and how to effectively seek and provide it.

Comprehend the impact of cross-cultural differences on communication and ways to navigate them.

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Definitions:

Unit Product Cost

The total cost (both direct and indirect) associated with producing one unit of a product, used in pricing and profitability analysis.

Absorption Costing

A method of accounting that incorporates all costs related to manufacturing, including direct materials, direct labor, as well as both variable and fixed overheads, into the product's price.

Unit Product Cost

The cost assigned to a single unit of product, encompassing all the costs incurred to produce, manufacture, or acquire that unit.

Absorption Costing

A method in accounting that totals up all expenses of manufacturing including costs for direct materials, direct labor, along with variable and fixed overhead, assigning them to the cost of a product.