This is 1q with 5 separate section

o.ou points Which of the following is not a characteristic of process costing? O Products are homogenous. 0 Costs are traced to production processes rather than products. O Service firms cannot use process costing. Processes are standardized Check my work hich of the following statements is Incorrect regarding the production costing report? O A separate production report is prepared for each major production process on an annual O The production report provides information about the number of units and manufacturing costs O The production basis about the number of units and manufacturing costs that flow through a production process during an accounting period cost to transfer out of Work in Process inventory and into the nest processing department or finished goods and into the next if t s th production process O The production report is used to value any units that are in process at the end of the accounting period o reconcile the number of physical units using the weighted average method of process costing, one must determine whether the units w O completed or still in process at the end of the period. O sold or still in inventory at the end of the period. O in the next production process or sold at the end of the period. O using direct materials or conversion costs at the end of the period An equivalent unit is calculated by O dividing the number of physical units by the percentage of completion. O multiplying the number of physical units by the percentage of completion. dividing the number of physical units into direct materials and conversion costs. O subtracting the number of physical units in ending Work in Process Inventory from the total number of physical units