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Question A Systems (10 marks) Questions: What type of costing system is illustrated above on this page? What is the correct ordering of the flow
Question A Systems (10 marks)
Questions:
- What type of costing system is illustrated above on this page?
- What is the correct ordering of the flow of boxes above (example: B to D to C to A)
- 3. True and False questions Indicate True or False
Question | True | False |
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| Box A Materials: Opening Balance + New buys - Transfers out Ending Balance Box B Sales - Cost of Goods Sold Gross Margin - Corporate Overhead Earnings before Taxes (operating profit) - Taxes Net Income Box D Finished Goods: Opening Balance + Transfers in - Transfers out Ending Balance Box C Work In Process: Opening Balance + Material in + Labour +Mfg Overhead Transfers out Ending Balance
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