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  3. t/f and explain please 6) the following journal en

T/F and Explain please 6) The following journal entry would be made in a processing costing system...

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Accounting

T/F and Explain please

6) The following journal entry would be made in a processingcosting system when units that have been completed in the finalprocessing department are transferred to the finished goodswarehouse: Finished Goods XXX Materials XXX

7) The equivalent units in beginning work in process inventoryplus the equivalent units in ending work in process inventoryequals the units transferred out plus the equivalent units for thework done during the period.

8) When all materials are added at the beginning of theproduction process, under a weighted-average process costing systemthe equivalent units for materials is equal to the units completedand transferred out.

9) In process costing, the equivalent units computed formaterials is generally the same as that computed for conversioncosts.

10) When computing the cost per equivalent unit, it is necessaryto consider the percentage completion of the units in beginninginventory under the weighted-average method.

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6 The following journal entry would be made in a processing costing system when units that have been completed in the final processing department are transferred to the finished goods warehouse Finished Goods XXX Materials XXXFalse When finished goods are transferred Wip    See Answer
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