Question $1(1$ point$)$

A Process costing system would be best suited for production of a large quantity of a

homogeneous product $($i$.$e$.$ products that are the same$).$

True

False

Question $2(1$ point$)$

In calculating cost per equivalent unit under the weighted$-$average method, prior

period costs are conthined with current period costs.

True

False

Question $3(1$ point$)$

In process costing, the equivalent units computed for materials is generally the same

as that computed for conversion costs.

True