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Process Costing

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Which of the following statement(s) concerning conversion costs is correct?

Estimated the degree of completion of direct materials in a partially completed unit is usually easier to calculate than estimating the degree of completion for conversion costs.
The calculation of equivalent units is relatively easy for the textile industry.
Estimates are usually not considered acceptable
Both (b) and (c) are correct

Correct - Your answer is correct.

Wrong - Your answer is wrong.

Detailed Answer

Correct answer: (A)

Estimated the degree of completion of direct materials in a partially completed unit is usually easier to calculate than estimating the degree of completion for conversion costs.

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