OVERVIEW OF THE CONVERSION PROCESS
3. SCRAP AND LOST TIME REPORT. 4. COMPLETED PRODUCTION REPORT. 5. INVENTORY ADJUSTMENT JOURNALS. 6. COST WORK SHEET. 7. STANDARD COST VARIANCE REPORTS MAJOR RISKS IN THE CONVERSION PROCESS. 1. Risks concerning the management of inventories.misstatement of inventory valuation.costs determined or classified improperly.errors made in cost allocations ................
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