GB 519 RANK Career Path Begins/gb519rank.com GB 519 RANK Career Path Begins/gb519rank.com | Page 21

Question 9. Question : Units accounted for includes units
completed and transferred out
plus:
Student Answer:
Beginning inventory.
Units to account for.
Ending inventory.
Units started.
UNIT 2 QUIZ
Question 10. Question : In calculating unit cost in a process
costing system, "conversion
cost" is defined as the sum of:
Student Answer:
Direct and indirect material costs.
Direct and indirect labor costs.
Direct labor and factory overhead costs.
Indirect labor and factory overhead costs.