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Question 2 (1 point) An advantage of the sales value at splitoff method is it always yields theme results as the gross margin percentage method. the fact that it can be supported subjectively. the cost allocation base is well understood. the fact that only a few assumptions are required beyond the splitoff point. the fact that there may not be a ready market at the splitoff point. Question 3 (1 point) Which of the following is an assumption implicit in process-costing? All completed units receive less direct material inputs than units in process. Ending inventory is always nil, for the cost calculations. All completed units receive more direct material inputs than units in process. They All completed units receive the same amount of direct material inputs and the same amount of conversion costs. Opening inventory is always nil, for the cost calculations. Question 4 (1 point) The costs from abnormal spoilage should appear as a separate inventory item. either on the balance sheet as part of finished goods inventory, or as a separate inventory item. on the balance sheet as part of finished goods inventory. as part of cost of goods manufactured. as a detailed item on the income statement. Question 5 (1 point) Under the FIFO method, all spoilage costs are assumed to be O related to the units in both beginning and ending inventory plus the units completed during the period. related to the units in beginning inventory, plus the units completed during the period. related to the units completed during the period. related to the units completed in both beginning and ending inventory. related to the units in ending inventory. Items with minimal sales value are known as abnormal spoilage. spoilage. reworked units. scrap ending work-in-process units