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Explain the operation of process costing, including the way the unit costs of finished goods are determined a. Debt Credit Work in progress Department Y
Explain the operation of process costing, including the way the unit costs of finished goods are determined
| a. | Debt | Credit | |
| Work in progress Department Y | 262000 | ||
| Work in progress Department x | 262000 | ||
| b. | |||
| WIP Department Y | 322000 | ||
| Raw material | 210,000 | ||
| Direct Labor | 45,000 | ||
| Manufacturing Overhead | 67,000 | ||
| c. | |||
| Finished Goods inventory | 669,000 | ||
| WIP Inventory Dep | 669,000 | ||
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Cornerstones of Managerial Accounting
Authors: Mowen, Hansen, Heitger
3rd Edition
324660138, 978-0324660135
