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Which of the following statements about companies that use processing costing is false? A processing department is an organizational unit where work is performed on
Which of the following statements about companies that use processing costing is false?
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A processing department is an organizational unit where work is performed on a product and where materials, labor, or overhead costs are added to the product.
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Costs are accumulated by department.
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Raw material costs are added only to the first processing department.
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A separate Work in Process account is maintained for each processing department.
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