In a process cost system, product costs are accumulated by processing department rather than by job True False For which of the following businesses would a process cost system be appropriate Yacht builder Custom electronics manufacturer An oil refinery Specialty furniture company In the manufacture of 10,000 units of a product, direct materials cost incurred was $145, 800, direct labor cost incurred was $82,000, and applied factory overhead was $45, 500. What is the total conversion cost? $127, 500 $272, 200 $273, 300 $145, 800 The portion of whole units that were completed with respect to either materials or conversion costs within a given accounting period is the definition of: Ending work in process. Equivalent units. Units started and completed. Conversion costs. A production supervisor's salary that does not vary with the number of units produced is an example of a fixed cost True False Variable costs are costs that remain constant in total dollar amount as the level of activity changes, True False