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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Transferred-in goods are treated by the receiving department as

  1. a. units started for the period.
  2. b. a material added at the beginning of the process.
  3. c. a category of materials separate from conversion costs.
  4. d. All of these.
  5. e. None of these.

To determine

Identify the correct statement with respect to the treatment of transferred-in goods by receiving department.

Explanation

Transfer-in Goods:

Goods transferred from the previous process to the next process are known as transfer-in goods. In other words transfer-in goods are the goods, which act as a raw material in the next process.

d.

Transferred-in goods are treated as input, material added in the beginning. Transferred-in goods are different from the conversion. Therefore, option d. is correct.

a.

Transferred-in goods are used as an input by the next process. It is also used as units started for the period by the next process...

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