8. Which of the following best describes how costs are allocated in process costing? a. Costs are assigned to individual jobs or projects. b. Costs are allocated to departments or processes. c. Costs are tracked by individual product lines. d. Costs are allocated based on direct labor hours. 9. In process costing, when calculating the cost per unit, total costs are divided by the a. Number of units produced b. Number of units in each department c. Total labor hours worked d. Total overhead costs incurred 10. Which of the following industries is an example of one that typically uses process costing? a. Custom jewelry production b. Bulk chemical manufacturing c. Art gallery management d. High-end restaurant services 11. Which of the following is a key building block of managerial accounting? a. Financial statements b. Cost accounting c. Tax planning d. External audit