A) It can only be used for manufacturing firms and not used for service firms. B) Costs are traced to products rather than to production processes C) Products are unique. D) It is employed by companies that use standardized processes. 17) Which of the following is a characteristic of process costing? 18) Conversion costs consist of A) raw materials and direct labor. B) raw materials and manufacturing overhead. C) direct labor and manufacturing overhead. D) all costs of production. 19) Which of the following statements is true? A) A job costing system will have a separate Work in Process Inventory account for each of the major processes. B) A process costing system will have a single Work in Process Inventory account C) A process costing system will have a separate Work in Process Inventory account for each of D) A process costing system will have a separate Raw Materials Inventory account for each of the major processes. the major processes. 20) Braden Corp. uses a process costing system. Beginning inventory for January consist units that were 60% completed, 13,000 units were started into the process during January. During January, 12,000 units were completed. How many units were in ending inventory on January 31? A) 1,950 B) 1,300 C) 2,300 D) 650 21) Brody Corp. uses a process costing system in which direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Beginning inventory for January consisted of 1,300 units that were 40% completed. 13,000 units were started into the process during January. On January 31 , the inventory consisted of 650 units that were 70% completed. What would be the equivalent units for conversion cost using the weighted average method? A) 14,300 B) 13,000 C) 14,105 D) 13,585