1. Assume there is no beginning work in process inventory and the ending work in process inventory is 80% complete with respect to materials costs. The number of equivalent units with respect to materials costs under the weighted-average method is:

1) less than the number of units put into production

2) the same as the number of units put into production

3) equal to the number of equivalent units with respect to conversion costs

4) less than the number of units completed

2. Decreasing the cost for ( ) would cause an increase in a manufacturing company's contribution margin per unit calculation.

1) insurance on the headquarters buildings

2) supervisory salaries

3) power and utilities to run production equipment

4) depreciation of factory facilities

5) All of the costs shown

3. When an organization utilizes process costing, every department's WIP account must be debited with charges for: Direct Materials, Direct Labor and Manufacturing Overhead, prior to transferring costs to next department WIP account. True or False?