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. 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. True b. False a. 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