Please help!

1. Understand difference between direct materials, indirect materials, direct labor, and indirect labor. (2 questions) 2. The process by which factory overhead or other costs are assigned to a cost object, such as a job, is called 3. What accounts are debited/credited for overhead costs incurred vs overhead costs applied? 4. What types of products would most likely be manufactured using the process cost system? 5. How are costs assumed to flow through the manufacturing process? 6. What units (whole vs equivalent) are complete with respect to materials or conversion and what units are the number of units in production during a period whether complete or not? 7. How is direct materials cost per equivalent unit calculated? 8. How is conversion costs per equivalent unit calculated? 9. What journal entry is required to move materials between departments? 10. Determine difference between the three methods used for allocating factory overhead costs to products. (4 questions) 11. Review snowmobiles and riding mowers example in Chapter 18. Know which method would have underpriced and overpriced each item. 12. Know that it is necessary to allocate support department costs to products, although they are not directly related to the products. 13. Know that support departments sometimes use each other (payroll and human resources, for example) 14. Know which method of allocating support department costs is most accurate of the three methods. 15. What is the estimated selling price of a product less any costs necessary to further process the product beyond the split-off point? 16. What are costs that vary in proportion to changes in the activity base? 17. What are costs that remain the same in total dollar amount as the activity base changes? 18. What are costs that have characteristics of both a variable and fixed cost? 19. How is contribution margin calculated? 20. What method of determining operating income is required under GAAP for financial statement distribution to external users? 21. Which method of determining operating income is used internally for decision making and considers fixed factory overhead a period expense? 1. Understand difference between direct materials, indirect materials, direct labor, and indirect labor. (2 questions) 2. The process by which factory overhead or other costs are assigned to a cost object, such as a job, is called 3. What accounts are debited/credited for overhead costs incurred vs overhead costs applied? 4. What types of products would most likely be manufactured using the process cost system? 5. How are costs assumed to flow through the manufacturing process? 6. What units (whole vs equivalent) are complete with respect to materials or conversion and what units are the number of units in production during a period whether complete or not? 7. How is direct materials cost per equivalent unit calculated? 8. How is conversion costs per equivalent unit calculated? 9. What journal entry is required to move materials between departments? 10. Determine difference between the three methods used for allocating factory overhead costs to products. (4 questions) 11. Review snowmobiles and riding mowers example in Chapter 18. Know which method would have underpriced and overpriced each item. 12. Know that it is necessary to allocate support department costs to products, although they are not directly related to the products. 13. Know that support departments sometimes use each other (payroll and human resources, for example) 14. Know which method of allocating support department costs is most accurate of the three methods. 15. What is the estimated selling price of a product less any costs necessary to further process the product beyond the split-off point? 16. What are costs that vary in proportion to changes in the activity base? 17. What are costs that remain the same in total dollar amount as the activity base changes? 18. What are costs that have characteristics of both a variable and fixed cost? 19. How is contribution margin calculated? 20. What method of determining operating income is required under GAAP for financial statement distribution to external users? 21. Which method of determining operating income is used internally for decision making and considers fixed factory overhead a period expense