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What types of costs are normally found in a process accounting system?
a.materials and labor
b.overhead, selling and administrative
c.labor and overhead
d.materials, labor and overhead
Which of the following companies would be least likely to use a process costing system?
a.a home-builder
b.a fertilizer company
c.a chemical company
d.an oil refinery
Manufacturers that produce a large number of homogeneous products are most likely to use which of the following?
a.parallel costing
b.job-order costing
c.process costing
d.sequential costing
The production report
a.provides information about the manufacturing costs incurred by the department.
b.provides information about the physical units processed by the department.
c.is a subsidiary to the work in process account.
d.All of these choices are correct.
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