Solution-Which would least likely use a process costing

Which would least likely use a process costing system

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Reference no: EM132805784

Problem 1: Which of the following would least likely use a process costing system?

a. Manufacturer of custom furniture

b. Manufacturer of soft drinks

c. Manufacturer of gasoline

d. Manufacturer of paper

Problem 2: Which of the following is not a basic objective of process costing?

a. Compute an average cost per unit since units are homogeneous

b. Allocate production costs between whole units and partial units

c. Separate production costs into fixed and variable components

d. Determine the amount of production costs that should be transferred to the next department

Problem 3: Select the incorrect statement regarding equivalent units of production (EUP).

a. Two units 50% completed are equivalent to one unit 100% complete.

b. Except in very rare instances, only one EUP calculation is needed per department.

c. EUP equals the number of whole units of output that could have been produced during a period from the actual effort expended.

d. The objective of EUP calculations is to eliminate the costing problem caused by partially completed units.

Reference no: EM132805784

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Which would least likely use a process costing system

Reference no: EM132805784

Reference no: EM132805784

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