The following information is available: - Beginning inventory of 50 units with a cost of $350 is 30% complete - Direct materials added this period is 400 units at a total cost of $1,200 - Direct labor incurred this period is $1,300 - Factory overhead applied this period is $300 - Units completed 350 - Ending inventory is 65% complete - Materials are added at the beginning of the process Using the information above, answer the following questions. Show work for credit. 1. How many units were "started and completed"? 335 b. 350 c 300 d. 400 2. What is the direct material cost per equivalent unit? a. $1 b. $3 c. $4 d. $2 3. What is the conversion cost per equivalent unit? a. $5 b. $3 c. $4 d. $2 4. What is the cost of goods manufactured? a. $2,590 b. $2,280 c. $3,000 d. $2,659 5. What is the balance in the ending work in process inventory? a. $560 b. $520 c. $950 d. $750 6. The cost of production report summarizes (1) the units for which the department is accountable and the units to be assigned costs and (2) the costs charged to the department and the allocation of those costs. a. True b. False 7. Direct materials, direct labor, and factory overhead are assigned to each manufacturing process in a process costing system. a. True b. False 8. Costs are transferred, along with the units from one work in process inventory account to the next in a process costing system. a. True b. False 9. A process cost accounting system records all actual factory overhead costs in the Work in Process account. a. True b. False 10. Equivalent units of production are the number of units that could have been manufactured from start to finish during an accounting period. a. True b. False