The following requirements are all independent from each other.

1.) PITCO Manufacturing Company produces a product that passes through two processing departments before it is completely finished and ready for sale. The first department in the process is Dept. #1 and the second department in the process is Dept. #2. It has already been properly determined that the total cost of units completed and transferred out of Dept. #2 during the month was $100,000. Prepare the appropriate journal entry to record this. (2 marks)

2.) Provide the missing word for the sentence below: (provide it on your separate answer pages)

Equivalent units of production is a measure of the number of completed units that could have been produced based on the amount of _________ expended during the period.

3.) Provide the missing word for the sentence below: (provide it on your separate answer pages)

A Job-Costing System is best suited for a manufacturing company that produces distinct and separately identifiable products. A Process Costing System is best suited for a manufacturing company that produces products that are __________ .