Question 6

Choose "true" or "false" as applicable for each of the following items regarding how a department assigns costs to inventory units under process costing.

Group of answer choices

Inventory units that are 100% complete but have not been physically transferred to the next production department are included in ending work in process inventory of the current production department.

[ Choose ] False True

The weighted average costing method requires prior period activity be tracked separately from current period activity.

[ Choose ] False True

The FIFO method requires prior period activity be tracked separately from current period activity.

[ Choose ] False True

An incomplete inventory unit represents one equivalent full unit as long as some work has been performed during the period.

[ Choose ] False True

Under the weighted average costing method, inventory units started in a prior month and completed in the current month can be treated as started and completed in the current month in calculating equivalent full units.

[ Choose ] False True