1. What are the typical characteristics of a company that should use a process costing system? List three types of industries that would likely use process costing.?

2.

For problems a) and b), fill in the missing amount.

a).

Work-in-process inventory, February 1 80,000 units

Work-in-process inventory, February 28 ?

Units started during February 60,000

Units completed during February 7 5,000

b).

Work-in-process inventory, June 1 ?

Work-in-process inventory, June 30 55,000 gallons

Units started during June 75,000 gallons

Units completed during June 83,000