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In a process manufacturing system, products pass through a series of sequential processes.

True False

Date

Process manufacturing usually reflects a manufacturer that produces large quantities of identical

products.

True False

Equivalent units of production are always the same as the total number of physical units finished

during the period.

True False

A process cost summary is an accounting report that describes the costs charged to a department, the

equivalent units of production by the department, and how the costs were assigned to the output.

True False

Process cost accounting systems are commonly used by companies that produce a large volume of

standardized units on a continuous basis.

True False

In the same time period, it is possible that a production department can produce $1,000$ equivalent

finished units with respect to direct materials and $1,200$ equivalent finished units with respect to direct labor.

True False

Once equivalent units are calculated for materials, this number will also be used for direct labor and

factory overhead.

True False