TRUE/FALSE. Write T if the statement is true and 'F' if the statement is false. 1) Job-costing and process-costing are mutually exclusive, hence a hybrid costing system that combines elements of both job and process costing cannot be used. 2) Conversion costs include direct materials and direct labor but excludes all other manufacturing and non-manufacturing costs. 2) MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 3) Which of the following statements best describes conversion costs? A) Conversion costs are all manufacturing costs other than direct materials costs. B) Conversion costs are all nonmanufacturing costs including marketing costs. C) Conversion costs are all nonmanufacturing costs other than fixed selling and distribution costs. D) Conversion costs are all manufacturing and nonmanufacturing costs. 4) Which if the following are not conversion costs? A) the cost of tires on an automobile B) the cost of direct laborers who assemble the parts of an automobile C) the cost of depreciation on an automobile assembly plant D) the cost of electricity to run the tools in the automobile assembly plant TRUE/FALSE. Write T if the statement is true and 'F' if the statement is false. 5) 5) When a company has no opening or ending inventory during the month, the cost per unit is calculated by dividing the total costs incurred in the period by the total units produced during the period. MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 6) Serile Pharma places 800 units in production during the month of January. All 800 units are completed during the month. It had no opening inventory. Direct material costs added during January was $74,000 and conversion costs added during January was $8400. What is the total cost per unit of the product produced during January? A) $93 B) $10 C) $103 D) $80 TRUE/FALSE. Write T if the statement is true and F if the statement is false. 7) When calculating the equivalent units, we should only focus on dollar amounts of inventory. 8) The accounting entry to record the conversion cost of the Assembly Department is: Work in Process-Assembly Department Accounts Payable Control