Kindly answer the two question. NO EXPLANATION NEEDED. Thankyou 1. Choose the right answer. No 1. When raw materials are issued to production, these will become part of work in process inventory. Raw materials Inventory account reflects the cost of materials and factory supplies that will be used in the manufacturing process. No 2. Conversion cost is composed of direct labor and overhead cost a. Both are true b. Both are false c. Only No. 1 is true d. Only No. 2 is true 2. Choose the right answer. No 1. When goods are sold, their cost is debited to Cost of goods sold. No 2. Work in process account pertains to inventory not yet completed or needs further processing. When completed, Work in process account is debited. a. Both are true b. Both are false c. Only No. 1 is true d. Only No. 2 is tru
Kindly answer the two question. NO EXPLANATION NEEDED. Thankyou
1. Choose the right answer.
No 1. When raw materials are issued to production, these will become part of work in process inventory. Raw materials Inventory account reflects the cost of materials and factory supplies that will be used in the manufacturing process.
No 2. Conversion cost is composed of direct labor and
a. Both are true
b. Both are false
c. Only No. 1 is true
d. Only No. 2 is true
2. Choose the right answer.
No 1. When goods are sold, their cost is debited to Cost of goods sold.
No 2. Work in process account pertains to inventory not yet completed or needs further processing. When completed, Work in process account is debited.
a. Both are true
b. Both are false
c. Only No. 1 is true
d. Only No. 2 is true
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