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Problem 1: On the schedule of cost of goods manufactured:
a) beginning work-in-process plus direct materials used equals manufacturing costs
b) work-in-process will necessarily increase if total manufacturing costs increase
c) cost of goods manufactured equals value of goods transferred to finished goods
d) factory overhead plus beginning work-in-process equals manufacturing costs
e) none of these
Problem 2: Which costing method seems ideally suited to the production of homogenous products in continuous throughput?
a) activity-based costing
b) job order costing
c) process costing
d) absorption costing
students should review the following statements and write 3-4 paragraphs that provide support for your answersmanagers
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