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Unformatted text preview: Online Quizzes (See related pages) 1 Which of the following would NOT use process costing? A) Chemical company B) Oil refining company C) Builder of new homes D) Automobile company E) Food processing company 2 __________ are the number of the same or similar complete units that could have been produced given the amount of work actually performed on both complete and partially complete units. A) Units sold B) Equivalent units C) Units produced D) Physical units transferred in. E) Physical units transferred out 3 __________ is the sum of direct labor and factory overhead costs. A) Prime costs B) Conversion costs C) Work in Process D) Manufacturing overhead 4 __________ summarizes the physical units and equivalent units of a department, the costs incurred during the period, and the costs assigned to both units completed and ending work in process inventories. A) An income statement B) A cost of goods manufactured statement C) A production cost report D) A physical units chart 5 Which of the following is the last step of process costing? A) Assign total manufacturing costs to units completed and ending WIP. B) Compute cost per equivalent unit for each manufacturing cost element. C) Determine total cost for each manufacturing cost element. D) Calculate equivalent units for each manufacturing cost element....
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This note was uploaded on 02/28/2012 for the course ACC 9000 taught by Professor Seyam during the Fall '11 term at CUNY Queens.
- Fall '11