41. Eliminating the source of problems in a process so that the process delivers the right products or services in the right quantities at the right time is known as a) Planning b) Directing c) Controlling d) Improving e) Decision-Making 42. uses each of the four management processes to help managers continually decide among alternative actions a) Planning b) Directing c) Controlling d) Improving e) Decision-Making 43. Direct materials used, factory utilities, salary of the plant manager, indirect materials used and depreciation on store equipment would all be considered product costs. a. True b. False 44. Prime Costs comprise of a) Direct Material and Direct Labor costs b) Direct Material and Factory Overhead costs c) Direct Labor and Factory Overhead costs 45. The Cavy Company estimates that the factory overhead for the following year will be $1,250,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 40,000 hours. The machine hours for the month of April for all of the jobs was 4,780 making the pre-determined rate $31.50 and applied overhead of $150,570. a. True b. False 46. If the costs for direct materials, direct labor, and factory overhead were $60,000,$35,000 and $25,000, respectively, for 20,000 equivalent units of production, the conversion cost per equivalent unit was $6. a. True b. False