Indicate which of the following statements is not correct. (a) Both a job order and a process
Question:
Indicate which of the following statements is not correct.
(a) Both a job order and a process cost system track the same three manufacturing cost elements—
direct materials, direct labor, and manufacturing overhead.
(b) A job order cost system uses only one work in process account, whereas a process cost system uses multiple work in process accounts.
(c) Manufacturing costs are accumulated the same way in a job order and in a process cost system.
(d) Manufacturing costs are assigned the same way in a job order and in a process cost system.
AppendixLO1
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Related Book For
Accounting Tools For Business Decision Making
ISBN: 9781118771112
5th Edition
Authors: Kimmel, Wetlands, Kieso
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