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LIUNO Not yet answered Marked out of 3.00 P Flag question Using conversion cost per equivalent it is appropriate for many businesses that use process costing because: Select one: O a. Direct materials and direct labor are usually entered into the production process at the same rate. O b. Direct labor and factory overhead enter the production process at the same rate. O c. All manufacturing costs are entered into the production process in the same period at the same rate. Od. The weighted average method of calculating equivalent units of production requires it. O e. Equivalent cost per unit is not sufficient measurement of production activity. Question 9 Not yet answered Marked out of 3.00 P Flag question To compute equivalent units of production, one must be able to reasonably estimate: Select one: a. The percentage of completion. O b. The number of units completed. O c. The number of units started and completed. O d. Direct labor costs. O e. Direct materials costs. Question 10 Not yet answered Marked out of 3.00 p Flag question A company that uses a process costing system completed and transferred out 120,000 units during the current period. The company's ending work in process inventory consists of 40,000 units that are 20% complete with respect to direct materials and 60% complete with respect to conversion costs. What are the company's total equivalent units of production (EUP) for direct materials and conversion costs assuming the weighted average method? Select one: O a. 120,000 EUP for Direct Materials; 120,000 EUP for Conversion Costs O b. 120,000 EUP for Direct Materials; 160,000 EUP for Conversion Costs O c. 128,000 EUP for Direct Materials; 128,000 EUP for Conversion Costs O d. 128,000 EUP for Direct Materials; 160,000 EUP for Conversion Costs e. 128,000 EUP for Direct Materials; 144,000 EUP for Conversion Costs Question 1 Answer saved Marked out of 3.00 P Flag question A company that applies process costing is most frequently characterized by: Select one: a. Low standardization and high production volume. O b. Repetitive production and low production volume. O c. Similar or identical products and high production volume. O d. Repetitive production and unique or custom-made products. Oe. Custom orders and mass production

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