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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?
- 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.
- Costs are accumulated by department.
- Raw material costs are added only to the first processing department.
- A separate Work in Process account is maintained for each processing department.
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