I. In a process manufacturing system, products pass through a series of sequential A. True B. False 2. Process manufacturing usually reflects a manufacturer that produces large quantities of identical products. A. True B. False 3. To determine unit cost under a process cost accounting system, equivalent units produced must be calculated if the company has Work in process inventories. A. True False B. 4. Equivalent units of production refer to the number of units that would be completed if all effort during a period had been applied only to those units that were started and completed in a period. A. True B. False 5. Equivalent units of production are always the same as the total number of physical units finished during the period. A. B. False True 6. The purchase of raw materials on account in a process costing system is a: A. Debit to Purchases and credit to Cash. B. Debit to Purchases and a credit to Accounts Payable. C. Debit to Raw Materials Inventory and a credit to Accounts Payable. D. Debit to Accounts Payable and a credit to Raw Materials Inventory. E. Debit to Work in Process Inventory and a credit to Accounts Payable