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QUESTION 1 An equivalent unit of material or conversion cost is equal to: The amount of material conversion cost necessary to complete one unit of production, O A unit of work-in-process inventory, The amount of material or conversion cost necessary to start a unit of production into work in process inventory Fifty percent of material or conversion cost of a unit to finished goods inventory QUESTION 2 The variable overhead spending variance is most effective in measuring: how well overhead spending matches the targets set in the original budget at the beginning of the year. the efficiency with which the activity base was utilized in production the excessive use of overhead resources the utilization of plant facilities