Answer the following MCQs:

Fresh Wreath Corporation manufactures wreaths according to customer specications and ships them to customers using United Parcel Service {UPS}. Which two terms below describe the cost of shipping these wreaths? * 0 variable cost and product cost 0 variable cost and period cost 0 fixed cost and period cost 0 fixed cost and product cost In a joborder costing system. the use of indirect materials that have been previouslyIr purchased is recorded as a credit to: * 0 Manufacturing Overhead. 0 Work in Process inventory. 0 Finished Goods inventory. 0 Raw Materials inventory. On the Schedule of Cost of Goods Manufactured. the final Cost of Goods Manufactured gure represents: * O the amount ofcost placed into production during the period 0 the amount of cost of goods completed during the current year whether they were started before or during the current year. 0 the amount of cost transferred from Finished Goods to Cost of Goods Sold during the peod O the amount of cost charged to Work in Process during the period. Emco Company uses direct labor cost as a basis for computing its predetermined overhead rate. In computing the predetermined overhead rate for last year. the company misclassified a portion of direct labor cost as indirect labor. The effect of this misclassification will he to: * 0 cannot be determined from the information giyen. 0 have no effect on the predetermined oyerhead rate. 0 overstate the predetermined overhead rate. 0 understate the predetermined oyerhead rate. There are two acceptable methods for closing out anyIr loalance of underapolied or overaoplied manufacturing overhead. One method involves allocation of the balance among several accounts. whereas the other closes anyIr balance directlyIr to: * 0 Finished Goods inventory. 0 Cost of Goods Sold. 0 Work in Process inventory. 0 Cost of Goods Manufactured. When the weightedave rage method of process costing is used. a department's equivalent units are computed by: * 0 adding the units transferred out to the equivalent units in ending inventory. 0 subtracting the equivalent units in beginning inventory from the equivalent units in ending inventory. 0 subtracting the equivalent units in beginning inventory from the equivalent units for work performed during the period. 0 subtracting the equivalent units in beginning inventory from the sum of the units transferred out and the equivalent units in ending inventory The nursing station on the fourth floor of Central Hospital is responsible for the care of orthopedic surgery:r patients. The costs of prescription drugs administered by the nursing station to patients should be classified as: * O overhead costs of the nursing station. 0 period costs of the hospital. 0 indirect patient costs. 0 direct patient costs. Harker Corporation uses the weightedaverage method in its process costing system. The first processing department, the Welding Department, started the month with 16,000 units in its beginning work in process inventory that were 40% complete with respect to conversion costs. The conversion cost in this beginning work in process inventor}.r was $29,440. An additional 59,000 units were started into production during the month and 61,000 units were completed in the Welding Department and transferred to the next processing department. There were 14,000 units in the ending work in process inventory.r of the Welding Department that were 10% complete with respect to conversion costs. A total of $246,400 in conversion costs were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for the month? {Round off to three decimal places.) * 0 $3375