18.The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 18,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $2.75 for materials and $4.25 for labor and overhead, the total cost assigned to the ending work in process inventory was:

$80,100

$126,000

$75,600

$95,400

20.The cost reconciliation report has two sections: Costs to be accounted for followed by Costs accounted for. The Costs accounted for portion of the cost reconciliation report includes the cost of beginning work in process inventory and the cost of units transferred out. T/F

22.In a job-order costing system, indirect labor cost is usually recorded as a debit to:

Cost of Goods Sold.

Finished Goods.

Work in Process.

Manufacturing Overhead.

27.A cost can be direct or indirect. The classification can change if the cost object changes. T/F