1. If 20,000 units of materials enter production during the first year of operations, 16,000 of the units are finished, and 4,000 are 40% completed, the number of equivalent units of production would be 18,4000.
   1. True
   2. False
2. If 12,000 units of materials enter production during the first year of operations, 10,000 of the units are finished, and 2,000 are 80% completed, the number of equivalent units of production would be 11,6000.
   1. True
   2. False
3. If the costs for direct materials, direct labor, and factory overhead were $436,800, $54,600, and $26,600 respectively for 14,000 equivalent units of production, the total conversion cost was $518,000.
   1. True
   2. False
4. If the costs for direct materials, direct labor, and factory overhead were $75,000, $40,000, and $110,000 respectively for 25,000 equivalent units of production, the total conversion cost per equivalent unit was $9.
   1. True
   2. False
5. If the costs for direct materials, direct labor, and factory overhead were $436,800, $54,600, and $26,600 respectively for 14,000 equivalent units of production, the total conversion cost per equivalent unit was $5.80.
   1. True
   2. False
6. If 18,000 units which were 25% completed are in process at November 1, 70,000 units were completed during November, and 15,000 were 40% completed at November 30, the number of equivalent units of production for November was 62,500. (Assume no loss of units in production and that inventories are costed by the first-in, first-out method).
   1. True
   2. False