Select each of the items with the best description of its purpose. Hems Raw materials inventory account Process cost summary Materials requisition Description 1. Notifies the materials manager to send materials to a production department 2. Holds indirect costs until assigned to production 3 Hold production costs until products are transferred from production to finished goods (or another department) 4. Standardizes partially completed units into equivalent completed units. 5. Holds costs of finished products until sold to customers 6. Describes the activity and output of a production department for a period 7. Holds costs of materials until they are used in production or as factory overhead Equivalent units of production Factory overhead account Finished goods inventory account Materials requisition Process cost summary