Option A: Gross weighted margin
Option B: weighted average revenue
Option C: weighted average cost
Option D: weighted average conversion cost
Correct Answer: weighted average cost ✔
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Option A: conversion expense costing system
Option B: inventory costing system
Option C: process costing system
Option D: job costing system
Correct Answer: process costing system ✔
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Option A: summarize flow of output
Option B: compute output in units
Option C: summarize total costs
Option D: compute cost for each equivalent unit
Correct Answer: summarize total costs ✔
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Option A: $10
Option B: $100
Option C: $1,000
Option D: $1,200
Correct Answer: $10 ✔
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Option A: summarize total costs
Option B: compute cost for each equivalent unit
Option C: summarize flow of output
Option D: compute output in units
Correct Answer: compute output in units ✔
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Option A: weighted average method
Option B: net present value method
Option C: Gross production method
Option D: net present value method
Correct Answer: weighted average method ✔
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Option A: summarize total costs
Option B: compute cost for each equivalent unit
Option C: summarize flow of output
Option D: compute output in units
Correct Answer: compute cost for each equivalent unit ✔
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Option A: allocate separable costs
Option B: allocate joint costs
Option C: compute gross margin
Option D: assign total cost to completed units
Correct Answer: assign total cost to completed units ✔
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Option A: partial work costs
Option B: transferred-in costs
Option C: transferred-out costs
Option D: weighted average costs
Correct Answer: transferred-in costs ✔
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Option A: 1800 units
Option B: 2300 units
Option C: 10300 units
Option D: 1500 units
Correct Answer: 2300 units ✔
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Option A: 1800 units
Option B: 1500 units
Option C: 1300 units
Option D: 1500 units
Correct Answer: 1300 units ✔
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Option A: transferred-in costs
Option B: transferred-out costs
Option C: FIFO costs
Option D: LIFO costs
Correct Answer: transferred-in costs ✔
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Option A: cost of indirect labor
Option B: cost of direct labor
Option C: cost of direct material
Option D: unit costs
Correct Answer: unit costs ✔
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Option A: accounting period costing system
Option B: process costing system
Option C: job costing system
Option D: none of above
Correct Answer: process costing system ✔
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Option A: summarize flow of output
Option B: compute output in units
Option C: summarize total costs
Option D: compute cost for each equivalent unit
Correct Answer: summarize flow of output ✔
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Option A: partial inventory costing method
Option B: current period inventory method
Option C: Last-in, first-out method
Option D: First-in, first-out method
Correct Answer: First-in, first-out method ✔
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Option A: conversion process
Option B: operation
Option C: hybridization
Option D: both a and b
Correct Answer: operation ✔
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Option A: incremental costing system
Option B: split off costing system
Option C: inventoriable costing system
Option D: operation costing system
Correct Answer: operation costing system ✔
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Option A: weighted costing system
Option B: average costing system
Option C: hybrid costing system
Option D: double costing system
Correct Answer: hybrid costing system ✔
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