QUESTION 12 If one unit of Product Z2 used $2.50 of direct materials and $3.00 of direct labor and was assigned overhead at the rate of 30% of direct labor costs, how much is the total cost of one unit of Product AZ? A. $6.40 $5.50 C. $2.50 D. $0.90 QUESTION 13 Which of the following products is most likely to be produced in a process operations system? A. Bridges B. Chips C. Custom cabinets D. Airplanes QUESTION 14 Which of the following is the best explanation for why it is necessary to calculate equivalent units of production in a process costing environment? A. Companies often use a combination of a process costing and job order costing systems. B. All of the work to make a unit 100% complete and ready to move to the next stage of production or to finished goods inventory may not have been completed in a single time period. C. In most cases, there is no difference between physical units and equivalent units of production D. In most manufacturing environments, it is not possible to conduct a physical count of units. QUESTION 15 Which of the following is not one of the four steps in accounting for production activity and assigning costs during a period under a process cost system? A. Determine over or underapplied overhead. B. Determine the physical flow of units. Compute the equivalent units of production. D. Compute the cost per equivalent unit of production