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URGENT: Please answer quick Statement I: In a job-order cast system, indirect bbar is assigned to a job by using the labor time ticket as
URGENT: Please answer quick
Statement I: In a job-order cast system, indirect bbar is assigned to a job by using the labor time ticket as a source document. Statement II: Both direct and indirect overhead costs are recarded an the individual job cost sheets. Bath Statements are False Only Statement II is True Only Statement I is True Bath Statements are True Question 16 Which of the following componies would lisely use a PROCESS COSTING system? Question 17 kath Statements are False Jaly Statement I is True Jaly Statement II is True lath Statements are True Question 18 Statement I: Ay definitian, manufacturing averheadd corsists of costs that can be practically traced to jobs. Statement Il: Therefare, these manufacturing averhead costs are traced and charged as incurred rather thon allocated. Jaly Statement II is True Dnly Statement I is True Bath Statements are False Bath Statements are True Question 19 Which of the following wauld be accounted for using a JOR ORDER COST system? The refining of petroleum. The constructian of a new campus building for a uriversity. The production of autamabiles The production of personal computers. Question 20 On the Schedule of Cost of Goods Marnufactured, the final figure represents the amount of cost tranaferred from Finished Goods to Cast of Gaods Sold during the period. amount of cost charged to Wark in Process during the period. amount af cost of goods campleted during the current year whether they were started before or during the current year. ambunt of cost placed into productian during the periodStep by Step Solution
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