Which of the following best describes transferred-in costs? A) they are the cost of transferring products...
Which of the following best describes transferred-in costs?
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A) they are the cost of transferring products from a vendor |
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B) they are value-added costs that are only considered in the first-in,first out process costing system |
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C) costs incurred in a previous department or process that are carried forward as the product's cost as that product moves to another department or process in the production cycle |
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D) they are the shipping costs related to finished goods that are transported to a customer's location |
Homework Answers
| Transferred-in costs are costs incurred in a previous department or process that are carried forward as the product's cost as that product moves to another department or process in the production cycle. |
| Transferred-in costs are previous department costs carried forward to subsequent processing department. |
| Option C is correct |
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Which of the following best describes transferred-in costs?
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