1. 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
2. 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