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Operating Personnel Must Be Able to Estimate the Percentage of Work-In-Process

Question 3
True False

Operating personnel must be able to estimate the percentage of work-in-process completed in process costing.

True

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Q 4
Equivalent units measure output in terms of the physical quantities of each of the inputs (factors of production)that have been consumed by the units.
Q 5
Process costing is extremely useful when there are a variety of products produced, as compared to the production of a single product.
Q 6
Examples of industries that would use process costing include the pharmaceutical and semiconductor industry.
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