1.) To which of the following is the goal of minimizing raw materials and work in process inventories considered to be a key objective? A-ABC B-JIT C-TQM D-Computer-controlled manufacturing systems 2.) To what should the allocation base used to apply overhead be most strongly associated? A-The cost of direct materials B-The cost of direct labor C-The estimated overhead cost D-The total product cost 3.) The first step in preparing the production cost report is to A-account for the number of physical units. B-calculate the cost per equivalent unit. C-assign costs to the items completed. D-determine the cost per equivalent unit