____ 15. If 10,000 units which were 40% completed are in process at November 1;...
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____ 15. If 10,000 units which were 40% completed are in process at November 1; 80,000 units were completed and transferred out during November; and 12,000 were 20% completed at November 30; the number of equivalent units for Conversion for production for November was 78,400.
____ 16. If factory overhead applied exceeds the actual costs, the factory overhead account will have a credit balance.
____ 17. If the principal products of a manufacturing process are identical, a process cost system is more appropriate than a job order cost system.
____ 18. A law firm would use a job order cost system to accumulate all of the costs associated with a particular client engagement, such as lawyer time, copying charges, filing fees, and overhead.
____ 19. If 16,000 units of materials enter production during the first year of operations, 12,000 of the units are finished, and 4,000 are 75% completed at years end, the number of equivalent units for Conversion for production would be 15,000.
____ 20. Depreciation on factory plant and equipment is an example of factory overhead cost.
Please Help. These are True/False questions.
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