Which of the following are inventory accounts for a manufacturer?

a. raw materials, work in process, and finished goods

b. direct labor, work in process, and finished goods

c. manufacturing overhead, raw materials, and direct labor

d. work in process, direct labor, and manufacturing overhead

49. In a process cost system, equivalent units of production are the

a. work done on physical units expressed in fully completed units.

b. units that are transferred to the next processing department.

c. units completed and transferred to finished goods.

d. units that are incomplete at the end of a period.

50. An appropriate cost driver for ordering and receiving materials cost is

a. direct labor hours.

b. machine hours.

c. number of parts.

d. number of purchase orders.