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The Bing Corporation produces a product that passes through two processes. During June, the first department transferred 60,000 units to the second department. The cost of the units transferred was $90,000. Materials are added uniformly in the second process. The following information was provided about the second department's operations during June: Refer to Figure 6-2. Units started in the second department during June for Bing Corporation would be A. 60,000 B. 55,000 C. 73,000 D. 48,000
Prepare the appropriate journal entries to record the transactions for the year, 20X1, including any year-end adjustments. Show calculations, rounded to the nearest dollar.
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Explain the production process and the product or service and show the different production departments you think would be involved in the process.
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