Please answer all 10 multiple choice questions and provide explanations of each answer

1) All of the following would use process costing except: 7) CC costs to account for / CC equivalent units is the formula to calculate: A) a paint manufacturer B) a bath towel manufacturer C) a cabinet designer D) a headphone A) work-in-process. B) conversion costs. C) finished goods. D) direct materials. manufacturer 8) Altman Inc.'s mixing department has 5,000 units of product in WIP at the end of the period. 2) The costs incurred by each department are reported in There was no beginning inventory and direct materials are 85% complete, direct labor is 20% complete and overhead is 75% complete. What are the equivalent units for direct materials, A) a job cost sheet B) the finished goods inventory account C) the Cost of Goods Sold account. direct labor and overhead? D) a production cost report. A) Direct materials 5,000 EU, Direct labor 500 EU and Overhead 3,750 EU B) Direct materials 3) One way process costing differs from job costing is: 4,250 EU, Direct labor 750 EU and Overhead 3,750 EU C) Direct materials 4,250 EU, Direct labor 1,000 EU and Overhead 3,750 EU D) Direct materials 4,975 EU, Direct labor 500 EU and Over- A) product costs consist of direct material, direct labor and manufacturing overhead. B) unit head 4,250 EU cost is needed by management for decision making. C) product costs are assigned to depart- ments. D) inventory accounts include finished goods. 9) A production cost reports show the calculations for the physical flows as well as the flows of the products. 4) The Cantor Company requisitioned materials for its assembly and finishing departments. What is the journal entry to record the raw materials costs for each production department? A) cash B) price C) cost D) supply A) Debit WIP inventory and Credit raw materials inventory B) Debit WIP inventory assembly de- 10) The Sadler Company has 50,000 equivalent units of production for direct materials. In June, partment, Debit WIP inventory finishing department and Credit raw materials inventory C) beginning direct materials inventory had costs of $20,000. During the month, $60,000 in direct Debit WIP inventory assembly/finishing and Credit raw materials inventory D) Debit WIP inven- material costs was added. What is the cost per equivalent unit for direct materials? tory assembly and Credit raw materials inventory A) $1.87 per equivalent unit B) $1.60 per equivalent unit C) $2.00 per equivalent unit D) $1.54 5) Which of the following describes equivalent units in process costing? per equivalent unit A) Units of production that are partially complete B) Units of production similar in design End of document C) Units of production that share the same department D) Units of production equal in number 6) If 30,000 units are 60% complete with respect to direct materials, what are the equivalent units of production for direct materials? A) 30,000 units B) 18,000 units C) 12,000 units D) 42,000 units