1-8

The following journal entry would be made in a processing costing system when n ot be completed with respect to the work done in Processing Department Z are transferred from Processing Department Z to Processing Department Y: Work in Process, Department Y Work in Process, Department Z TRUE FALSE 2. The following journal entry would be made in a process costing system when units that have been completed in the final processing department are transferred to the finished goods warehouse Finished Goods Materials XXX TRUE FALSE 3. In a process costing system, overhead costs are traced to units of product as they are incurred. TRUE FALSE 4. In process costing, the equivalent units computed for materials is generally the same as that computed for direct labor. TRUE FALSE 5. When assigning costs to partially completed units in the ending work in process inventory, it is not necessary to consider the percentage completion of the units under the weighted average method. TRUE FALSE 6. In order to use process costing, the output of a processing department should be homogeneous. TRUE FALSE 7. In process costing costs incurred in a department are not transferred to the next department. TRUE FALSE 8. In a process costing system, manufacturing overhead applied is usually recorded as a debit to A. Finished goods. B. Work in process. C) Manufacturing overhead. D. Cost of goods sold