QUESTION 19 To compute equivalent units of production, one must be able to reasonably estimate: O...

   
 

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QUESTION 19 To compute equivalent units of production, one must be able to reasonably estimate: O The percentage of completion. O Units completed. Units started and completed. Direct labor cost. Materials cost. QUESTION 20 The purchase of raw materials on account in a process costing system is recorded with a: O Debit to Purchases and credit to Cash. Debit to Purchases and a credit to Accounts Payable. Debit to Raw Materials Inventory and a credit to Accounts Payable. Debit to Accounts Payable and a credit to Raw Materials Inventory. Debit to Work in Process Inventory and a credit to Accounts Payable QUESTION 19 To compute equivalent units of production, one must be able to reasonably estimate: O The percentage of completion. O Units completed. Units started and completed. Direct labor cost. Materials cost. QUESTION 20 The purchase of raw materials on account in a process costing system is recorded with a: O Debit to Purchases and credit to Cash. Debit to Purchases and a credit to Accounts Payable. Debit to Raw Materials Inventory and a credit to Accounts Payable. Debit to Accounts Payable and a credit to Raw Materials Inventory. Debit to Work in Process Inventory and a credit to Accounts Payable

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