All questions have to do with cost accounting systems, more in particular, process cost systems.

Complete each of the following statements by writing the appropriate words or amounts in the answers blanks.

1-5. Identify whether the process cost or job order cost system would be more appropriate for each of the following businesses: 1. accounting firm 1. ____ 2. breakfast cereal manufacturer 2. ____ 3. ship construction 3. ____ 4. pharmaceuticals company 4. ____ 5. computer chip manufacturer 5. ____

6. The number of units that could have been completed within a given accounting period with respect to direct materials and conversion costs is the 6. ____

7. Direct labor and factory overhead are referred to as 7. ____