Chapter Exercise 7.2 1. ing company, the total number of units manufactured will increase. 3. Instructions: True or False. Write True if the statement is correct and False if the statement is incorrea There are manufacturing companies where the total number of units manufactured increases due to the addition of materials in a specific department, With the addition of carbonated water in raw materials of a softdrinks manufactur. Conversion cost as presented in production reports constitutes the direct labor and 4. Companies using the process cost accounting system cannot use job cost sheet. 5. The choice of FIFO and weighted average is essential in coming up with the Time card contains only the time in and time-out of the employees, irrespective of Materials in process cost accounting system could be added at the beginning, equivalent units computation. 6. FIFO means first-in, first-out. 7. Time ticket is used for the computation of the payroll of a factory worker. 8. whether they are assigned in the administration or in the production department 9. middle, or end of the process. 10. Equivalent units are dependent on when the materials are added into the production. manufacturing overhead incurred by the company