Management Accountants are required to report financial results in accordance with legally set guidelines. True False Manufacturing, Inc. makes refrigerator replacement parts. In May, Carson produced 2,000 units. Costs incurred were as follows: Direct Labor per unit (2 hrs. @ $15/hr.): $30 Direct Materials per unit: $15 Indirect Labor (maintenance): $35,000 Indirect Materials (total used): $2,000 Manufacturing Overhead application rate (per unit): $5 Given this data, calculate the total Prime Costs for the units produced in the month of May $35,000 $40,000 $15,000 $90,000 Job order costing is typically employed in companies that use assembly lines for producing identical products. True False Which of the following entries correctly reflects the entry for the requisition of materials (direct and indirect) for use in production? Debit Work in Process Inventory and Manufacturing Overhead and Credit Materials Inventory Debit Materials Inventory and Credit Work in Process Inventory and Manufacturing Overhead Debit Materials Inventory and Credit Direct Materials and Indirect Materials Debit Materials and Credit Accounts Payable