Diff 1 lo 5 2 eoc s5 3 aacsb reflective thinking

Diff: 1
LO: 5-2
EOC: S5-3
AACSB: Reflective Thinking
Learning Outcome: Discuss process costing systems and calculate product cost using
process costing
41) In a mass-production environment, direct labor is usually a relatively small component
of the total manufacturing costs.
Diff: 1
LO: 5-2
EOC: S5-3
AACSB: Reflective Thinking
Learning Outcome: Discuss process costing systems and calculate product cost using
process costing
42) Companies that use automated production processes often condense the three
manufacturing costs into two categories: Direct materials and Conversion costs.
Diff: 1
LO: 5-2
EOC: S5-3
AACSB: Reflective Thinking
Learning Outcome: Discuss process costing systems and calculate product cost using
process costing
44) Direct materials are often added at a particular point in the production process.
Diff: 1
LO: 5-2
EOC: E5-25
AACSB: Reflective Thinking
Learning Outcome: Discuss process costing systems and calculate product cost using
process costing
45) The number of equivalent units is usually the same for direct materials and conversion
costs.
Diff: 2
LO: 5-2
EOC: E5-25
AACSB: Reflective Thinking
Learning Outcome: Discuss process costing systems and calculate product cost using
process costing
51) If all direct materials are added at the end of the production process, and the units
have made it 50% of the way through the production process, then the percentage
completion for direct materials is 0%.
Diff: 1

LO: 5-2
EOC: E5-25
AACSB: Reflective Thinking
Learning Outcome: Discuss process costing systems and calculate product cost using
process costing
52) If conversion costs are added evenly throughout the production process, and the units
have made it 50% of the way through the production process, then the percentage
completion for conversion costs is 50%.
Diff: 1
LO: 5-2
EOC: E5-25
AACSB: Reflective Thinking
Learning Outcome: Discuss process costing systems and calculate product cost using
process costing