1) Process operations, also called process manufacturing or process production, is the ________ production of similar products in a _____________ flow of sequential steps.

2) An ______________is the number of units that could have been started and completed given the costs incurred during the period.

3) If a process has ____________ or ___________ inventory of partially completed production, equivalent units must be calculated so that total costs incurred during the period are assigned to all units worked on.

4) The second step in accounting for production activity in a period, after determining the physical flow of units, is to compute ________________.

5) The third step in accounting for production activity in a period, before assigning and reconciling costs, is to compute the __________________.

6) Materials and labor costs that are clearly associated with a specific process or department are known as ________________. Those costs that are not clearly associated with a specific process or department are called ________________.

7) In a process costing system, direct materials used are debited to the _____________ account, and indirect materials used are debited to the ________________ account.

8) In a manufacturing operation with two process departments (1 and 2), the flow of costs would proceed from Work in Process, Department #1 to ________.

9) In a process costing accounting system, factory wages are debited to __________, when direct labor is used. When indirect labor is used, the ______________ account is debited. In both cases the _______________ is credited.

10) In process costing, a _________________ is used to apply factory overhead.

11) When the final production department completes goods, the cost of the completed goods are transferred to _________________.

12) When the completed goods are sold, the cost of the completed goods are transferred to ___________________.