Normal costing refers to the use of job-costing systems

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Reference no: EM13753926

1. Electricity costs that were incurred by a company's production processes should be debited to Utilities Expense.

True

False

2 .The final step in recognizing the completion of production requires a company to debit Finished-Goods Inventory and credit Work-in-Process Inventory.

True

False

3. Under- or over-applied manufacturing overhead at year-end is most commonly charged or credited to Work-in-Process Inventory.

True

False

4. The term "normal costing" refers to the use of job-costing systems.

True

False

Reference no: EM13753926

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