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86) The cost per equivalent unit for direct materials will

Question : 86) The cost per equivalent unit for direct materials will : 1876976

86) The cost per equivalent unit for direct materials will always be equal to the cost per equivalent unit for conversion costs.

87) The number of equivalent units is computed before computing the cost per equivalent unit.

88) Wong completed 24,000 units and had another 6,000 units 45% complete. The total equivalent units for the period are 26,700.

89) Total direct materials = $67,500, and there is no beginning WIP Inventory. Units completed are 15,000 with no ending Work In Process Inventory. The cost per unit is $4.50.

90) The production equivalent unit report summarizes all costs.

91) If a company has no ending Work In Process Inventory, it does not need to use the 5-step process costing procedure to determine the cost of making one unit.

92) If a company has ending Work In Process Inventory it must use the 5-step process costing procedure to determine the cost of making one unit.

93) The existence of ending Work In Process Inventory necessitates the use of the 5-step process costing procedure.

94) The existence of ending Work In Process Inventory necessitates how much of the total manufacturing cost should be assigned to units still in ending WIP Inventory, and how much of the cost should be assigned to units completed during the period.

95) The first step of the 5-step process costing procedure is to summarize the flow of physical units.

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