A company uses a process system. The number of equivalent units in ending WIP Inventory regarding direct materials costs and conversion costs is

always lower for direct materials.

always equal.

always lower for conversion costs.

2.

If the number of units produced equals the number of units sold for a manufacturer, both variable costing and absorption costing income statements will yield the same gross margin.

True

False

3.

On a regression analysis output generated with Excel, a regression equation's fixed cost component is represented by the

		x variable 1 coefficient.
		intercept coefficient.
		R-square.
		residual.

None of these.