I{C}{C}{C}. In a processcosting environment, production flow may include from __________ toa _________ or more departments, processes, or work cells.
II{C}{C}{C}. A process costingsystem maintains a _________________ Work in Process Inventoryaccount for each department, process, or work cell.
III{C}{C}{C}. Each Work in ProcessInventory account contains costs of any direct _____________,direct ____________, and ________________ for that department,process, or work cell, as well as any costs that have beentransferred in from the ______________ department, process, or workcell.
IV{C}{C}{C}. At the ___________ of everyaccounting period, a ____________ report assigns the costs thathave accumulated during the period to the units that havetransferred out of the department and to the units that are still apart of the work in process.
V{C}{C}{C}. A process cost report may beprepared using the __________ costing method or the _______________costing method.
VI{C}{C}{C}. _______________ production(equivalent units) is a measure of the number of equivalent wholeunits worked on during a period.
A. Explain why the calculation ofequivalent units is necessary.
B. Equivalent production applies a______________of-completion factor to partially completed units tocalculate the equivalent number of ___________ units produced in anaccounting period for each type of production input.
C. The number of equivalent unitsproduced is the sum of the following:
1. Total units ______________ and____________ during the period
2. An amount representing the workdone on _______________ completed products in both the beginningand ending work in process inventories.
I{C}{C}{C}. In a processcosting environment, production flow may include from __________ toa _________ or more departments, processes, or work cells.
II{C}{C}{C}. A process costingsystem maintains a _________________ Work in Process Inventoryaccount for each department, process, or work cell.
III{C}{C}{C}. Each Work in ProcessInventory account contains costs of any direct _____________,direct ____________, and ________________ for that department,process, or work cell, as well as any costs that have beentransferred in from the ______________ department, process, or workcell.
IV{C}{C}{C}. At the ___________ of everyaccounting period, a ____________ report assigns the costs thathave accumulated during the period to the units that havetransferred out of the department and to the units that are still apart of the work in process.
V{C}{C}{C}. A process cost report may beprepared using the __________ costing method or the _______________costing method.
VI{C}{C}{C}. _______________ production(equivalent units) is a measure of the number of equivalent wholeunits worked on during a period.
A. Explain why the calculation ofequivalent units is necessary.
B. Equivalent production applies a______________of-completion factor to partially completed units tocalculate the equivalent number of ___________ units produced in anaccounting period for each type of production input.
C. The number of equivalent unitsproduced is the sum of the following:
1. Total units ______________ and____________ during the period
2. An amount representing the workdone on _______________ completed products in both the beginningand ending work in process inventories.
