ACCT 2302 Ch 16 Process Costing and Analysis Smartbook exam study guide

Ch16: Process Costing and Analysis 1 1. Match each product with the type of manufacturing most likely to be used—job order or process operations.  Job order  customized home  Process  soft drinks  Process  oil changes  Process  chocolate chip cookies  Job order  wedding invitations 2. In process operations, costs are accumulated in each process. In the final process, cost are transferred to: Finished goods 3. Process and job order operations are similar in that both  Are used to determine the cost per unit of product or service  Combine materials, labor, and overhead in producing products 4. Equivalent units of production refers to the number of units that could have been: Started and completed 5. After determining the physical flow of units, the next step in process costing is: Computed equivalent units of production 6. The mass production of products in a continuous flow of steps is the definition of: Process operations 7. In a process operation, each process has a sep