15. On the last date of the accounting period, the total of all job cost sheets related to unfinished jobs will equal the ending balance in the Work-in-Process Inventory account.

Group of answer choices

True

False

16. From the following, which would not be an appropriate allocation base for assigning utility costs for heating three separate product line production departments?

Group of answer choices

sales generated by each department

kilowatt hours used by each department

machine hours used by each department

square footage used by each department

18. The journal entry in a job order system to record the requisition of direct materials into production would be

Group of answer choices

debit to Materials Inventory and credit to Accounts Payable

debit to Materials Inventory and credit to Work-in-Process Inventory

debit to Work-in-Process Inventory and credit to Accounts Payable

debit to Work-in-Process Inventory and credit to Materials Inventory

debit to Overhead and credit to Materials Inventory

19. A journal entry with a credit made to the Finished Goods account for a Job Order systems represents:

Group of answer choices

the total sales price of items sold during the period

the cost transferred from Work-in-Process Inventory during the period

the total cost of items sold during the period

the cost of goods manufactured for the period

21. A company should use process costing techniques in assigning costs to products

Group of answer choices

when production is customized to individual customer's requests.

if the products are manufactured on the basis of each order received.

when production is only partially completed during the accounting period.

if the products are composed of mass-produced, homogeneous units.

24. Equivalent units are exactly the same under the FIFO Costing method and the weighted average costing method when there is no

Group of answer choices

beginning finished goods inventory

ending work-in-process inventory

beginning work-in-process inventory

ending finished goods inventory