A process costing system is used when:
A. A company produces unique, one-of-a-kind inventory items.
B. Batches of identical inventory items are produced.
C. Homogeneous items are produced in a continuous-flow production process.
D. All of these answers are correct.
Answer: C
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The Zakchari Company has six processing departments for refining sugar—Affination, Carbonation, Decolorization, Boiling, Recovery, and Packaging. Conversion costs are added evenly throughout each process, and materials are added at the beginning of each process. Data from August for the Recovery Department are as follows:
In August, 15,000 metric tons were completed and sent to the Packaging Department. The ending Work-in-Process Inventory was 50% complete with respect to conversion costs. Prepare a production cost report for the Recovery Department to show the equivalent units for direct materials and conversion costs. The weighted-average method is used.
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