managment cost accounting, mcq please help thx

1. Costing systems that are used for costing like or similar units of products in mass production are called A) inventory-costing systems: B) job-costing systems. C) process-costing systems. D) weighted-average costing systems. E) bulk costing systems. 2 Which of the following manufactured products should use process costing? A) 767 jet aircraft B) bags of cement C) custom build houses D) designer onginal evening gowns E) expensive jewelry Axel Ltd, began operations on October 1 of the current year. Its production requires that direct materials be added at the beginning of the process, and conversion costs are incurred uniformly. Direct materials costs for October were $380,000, and conversion costs were $1,750,000. There were 80,000 units started during the month. The ending inventory was 25,000 units, which were 60% complete. The cost per equivalent unit for conversion was A) $25.00 B) $21.88 C) $70.00 D) $116.67 E) $16.67 Show Calculations: 5 Which of the following is an assumption implicit in process-costing? A) All completed units receive more direct material inputs than units in process. B) All completed units receive less direct material inputs than units in process. C) Opening inventory is always nil, for the cost calculations. D) Ending inventory is always nil, for the cost calculations. E) All completed units receive the same amount of direct material inputs and the same amount of conversion costs. 6 Which of the following is NOT true of the weighted-average process-costing A) The method calculates the cost per equivalent unit of all work done to date regardless of the accounting period in which the work was done: B) The costs in work in process (beginning work in process) when the period starts are not considered when calculating the weighted average cost per equivalent unit. C) The weighted-average cost is the total of all costs entering the work in process account divided by the total equivalent units in the ending work-in-process inventory. D) The costs to account for are equal to the beginning work in process plus the costs added to work in process during the same period. Beginning inventory contained 5,000 units of goods that were 40 percent complete 7 as to direct material, and 50 percent complete as to conversion. What is the equivolent units completed for materiais and conversion at the beginning of the year, respectively? Assume that both types of costs are incurred, eveniy throughour A) 5,000 and 5,000 B) 1,000 and 5,000 C) 3,000 and 2.500 D) 2,000 and 2,500 E) 0 and 5,000 Show Calculation: 10 Weighy Steel processes a single type of steel. For the current period the following information is eiven