b. Actual quantity purchased by the difference between actual price and standard price. c. Standard price by the difference between standard quantity purchased and standard quantity used. d. Standard quantity purchased by the difference between actual price and standard price 51. A cost center in a process cost system is a: a. Unit to which costs are accumulated. b. Job. c. Specific product. d. Employee 52. Which of the following firms is least likely to use process costing? a. A yogurt manufacturer. b. A refiner of petroleum products c. A computer manufacturer. d. A manufacturer of concrete products. 53. Process costing techniques should be used in assigning costs to products: a. If the product is manufactured on the basis of each order received. b. In all manufacturing situations. c. When production is only partially completed during the accounting period. d. If the product is composed of mass-produced homogeneous units. An error was made in the computation of the stage of completion of the current year's ending inventory. The error resulted in assigning a lower stage of completion to each componen than actually was the case. What is the resultant effect of this error upo (1) The computation of equivalent units in total? (2) The computation of costs per equivalent unit? (3) Costs assigned to cost of goods completed for the period? a. Understate b. Understate c. Overstate d. Overstate Overstate Understate Understate Overstate Overstate Overstate Understate Understate