1. Portsmouth storage cmpany manufactures cardboard boxes. the beginning work-in-process inventry in August 1 consist of 10,000 units that were 10% complete with respect to conversion costs and 100% complete with respect to diect material costs. the conversion costs and direct material costs were $24,000 and $20,000 respectively. 60,000 units were started during August, and 65,000 were completed. the work-in-process inventory on August 31 was 80% complete with respect to conversion costs, and 100% complete with respect to direct material costs. manufacturing costs incurred during August consisted of $120,000 direct materials cost and $427,950 conversion cost. what is the total cost of portsmouth's work in process inventory on 8/31?

2. which term is used when discussing the difference between an individual's submitted budget projection and his or her best estimate of the item being projected.

A. Budget Padding

B. Budget Variance

C. Budgetary Slack

d. Participative Budgeting

E. Activity-based budgetting (ABB)

3. which of the following is false

A. Managers find operation costing useful in cost management becaused it captures the financial impact of the control of physical process.

B. An operation costing system would be applicable to a suit-making operation

C. Under operation costing product costs are compiled for each for each operation first, then are allocated to each work order

D. under operation costing a single average conversion cost per unit is calculated for each operation, by dividing total conversion costs for that operation by the number of units that pass through it.