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answer all parts part 1: part 2: In a process costing system, companies end each period with only Finished Goods Inventory. The cost object in
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In a process costing system, companies end each period with only Finished Goods Inventory. The cost object in a process costing system is the specific job. True or False A production cost report does not include the number of equivalent units of production for the period. True or False A production cost report is an accounting report that describes the physical flow of units, equivalent units of production for direct materials and conversion, costs per equivalent unit of production for direct materials and for conversion, and the assignment of total costs to units worked on in the period. True or False The following journal entry would be made to record the use of $6,100 of direct labor in the Production department during the reporting period: If Department C uses $10,000 of direct materials and Department D uses $15,000 of direct materials, the following journal entry would be recorded by the process costing system: If Department R uses $60,000 of direct materials and Department S uses $15,000 of direct materials, the following journal entry would be recorded by the process costing system: If Grayson Manufacturing incurred $17,400 for direct labor in the Assembly department and $10,300 for direct labor in the Painting department, the journal entry to record the labor used is: If Department L uses $53,000 of direct labor and Department M uses $21,000 of direct labor, the following journal entry would be recorded using a process costing system part 1:
part 2:
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