Introduction to Managerial Accounting 7th Edition Peter C. Brewer Test Bank

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Introduction to Managerial Accounting 7th Edition Peter C. Brewer Test Bank

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Chapter 04
Process Costing

True / False Questions

1. When materials are purchased in a process costing system, a materials account is debited with the cost of the materials.

True False

2. Costs are accumulated by department in a process costing system.

True False

3. The following journal entry would be made in a processing costing system when units that have been completed with respect to the work done in Processing Department Z are transferred from Processing Department Z to Processing Department Y:

Work in Process, Department Z XXX
Work in Process, Department Y XXX

True False

4. The units in beginning work in process inventory plus the units in ending work in process inventory must equal the units transferred out of the department plus the units started into production.

True False

5. In order to equitably allocate costs in a process costing system, dissimilar products are restated in terms of equivalent units by weighting the number of units produced by their market values.

True False

6. Under the weighted-average method, the equivalent units used to compute the unit costs of ending inventories relate only to work done during the current period.

True False

7. In calculating cost per equivalent unit under the weighted-average method, prior period costs are not combined with current period costs.

True False

8. Under the weighted-average method of process costing, costs from the prior period are averaged with those of the current period in computing unit costs.

True False

9. Using process costing, it is necessary to consider the stage of completion of the units when assigning conversion cost to partially completed units in the ending work in process inventory.

True False

10. The costs accounted for portion of the cost reconciliation report includes the cost of beginning work in process inventory and the cost of units transferred out.

True False

11. The costs to be accounted for portion of the cost reconciliation report includes the cost of ending work in process inventory and the costs added during the period.

True False

12. The costs accounted for portion of the cost reconciliation report includes the cost of beginning work in process inventory and the costs added to production during the period.

True False

13. The costs to be accounted for portion of the cost reconciliation report includes the cost of beginning work in process inventory and the costs added during the period.

True False

14. Process costing is used in those situations where many different products or services are produced each period to customer specifications.

True False

15. A job-order cost system would be used to account for the cost of building an oil tanker.

True False

16. Both job-order and process costing systems use averaging to compute unit product costs.

True False

Multiple Choice Questions

17. Pulo Corporation uses a weighted-average process costing system. The company has two processing departments. Production starts in the Assembly Department and is completed in the Finishing Department. The units completed and transferred out of the Assembly department during April will become the:

A. units in Aprils ending work in process in Finishing.

B. units in Mays beginning work in process in Finishing.

C. units started in production in Finishing for April.

D. units started in production in Finishing for May.

18. Which of the following journal entries would be used to record application of manufacturing overhead to work in process in a process costing system with two processing departments, Department A and Department B?

A) Manufacturing Overhead XXX
Work in Process-Department A XXX
Work in Process-Department B XXX
B) Work in Process-Department A XXX
Work in Process-Department B XXX
Manufacturing Overhead XXX
C) Work in Process-Department B XXX
Work in Process-Department A XXX
Manufacturing Overhead XXX
D) Work in Process-Department A XXX
Work in Process-Department B XXX
Manufacturing Overhead XXX

A. Option A

B. Option B

C. Option C

D. Option D

19. Which of the following statements about a process costing system is incorrect?

A. In a process costing system, each processing department has a work in process account.

B. In a process costing system, equivalent units are separately computed for materials and for conversion costs.

C. In a process costing system, overhead can be underapplied or overapplied just as in job-order costing.

D. In a process costing system, materials costs are traced to units of products.

20. Barraza Corporation uses a weighted-average process costing system. Barraza has two direct materials. One of these materials is added at the beginning of the production process. The other material is added when processing is 50% complete. When will the equivalent units of production for these two materials be equal?

A. when processing on beginning work in process is less than 50% complete at the start of the period.

B. when processing on beginning work in process is more than 50% complete at the start of the period.

C. when processing on ending work in process is over 50% complete.

D. when processing on ending work in process is less than 50% complete.

21. When the weighted-average method of process costing is used, a departments equivalent units are computed by:

A. subtracting the equivalent units in beginning inventory from the equivalent units in ending inventory.

B. subtracting the equivalent units in beginning inventory from the equivalent units for work performed during the period.

C. adding the units transferred out to the equivalent units in ending inventory.

D. subtracting the equivalent units in beginning inventory from the sum of the units transferred out and the equivalent units in ending inventory.

22. Which of the following are needed to compute the cost per equivalent unit for materials under the weighted-average method of process costing?

Material cost assigned to beginning work in process Material cost added to production during the current period
A) Yes Yes
B) No Yes
C) Yes No
D) No No

A. Option A

B. Option B

C. Option C

D. Option D

23. For which situation(s) below would an organization be more likely to use a process costing system of rather than a job-order costing system?

A. a paper mill that processes wood pulp into large rolls of paper

B. a shop that restores old cars to showroom quality

C. a framing shop that builds picture frames to order for individual customers

D. a masonry company that builds brick walls, bulkheads, and walkways designed by architects

24. Which of the following companies would be most likely to use a process costing system?

A. a shipbuilder

B. a furniture manufacturer

C. a law firm

D. a utility producing natural gas

25. Which of the following companies would be most likely to use a process costing system?

A. Ship builder.

B. Movie studio.

C. Oil refinery.

D. Hospital.

26. The Assembly Department started the month with 35,000 units in its beginning work in process inventory. An additional 472,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 34,000 units in the ending work in process inventory of the Assembly Department. How many units were transferred to the next processing department during the month?

A. 507,000

B. 473,000

C. 471,000

D. 541,000

27. Health Beverage Corporation uses a process costing system to collect costs related to the production of its celery flavored cola. The cola is first processed in a Mixing Department at Health and is then transferred out and finished up in the Bottling Department. The finished cases of cola are then transferred to Finished Goods Inventory. The following information relates to Healths two departments for the month of January:

Mixing Bottling
Cases of cola in work in process, January 1 10,000 3,000
Cases of cola completed/transferred out during January 77,000 ?
Cases of cola in work in process, January 31 4,000 8,000

How many cases of cola were completed and transferred to Finished Goods Inventory during January?

A. 66,000

B. 71,000

C. 72,000

D. 74,000

28. Fabian Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 9,000 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. An additional 90,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. During the month 87,000 units were completed in the Assembly Department and transferred to the next processing department. There were 12,000 units in the ending work in process inventory of the Assembly Department that were 20% complete with respect to conversion costs.
What were the equivalent units for conversion costs in the Assembly Department for the month?

A. 93,000

B. 83,100

C. 87,000

D. 89,400

29. Jawson Corporation uses the weighted-average method in its process costing system. Operating data for the Painting Department for the month of April appear below:

Units Percent Complete with Respect to Conversion
Beginning work in process inventory 6,300 10%
Transferred in from the prior department during April 65,600
Ending work in process inventory 4,600 70%

What were the equivalent units for conversion costs in the Painting Department for April?

A. 67,300

B. 68,820

C. 70,520

D. 63,900

30. Narver Corporation uses the weighted-average method in its process costing system. Operating data for the Lubricating Department for the month of October appear below:

Units Percent Complete with Respect to Conversion
Beginning work in process inventory 6,600 60%
Transferred in from the prior department during October 40,100
Completed and transferred to the next department during October
37,100
Ending work in process inventory 9,600 80%

What were the equivalent units for conversion costs in the Lubricating Department for October?

A. 43,100

B. 37,100

C. 44,780

D. 47,780

31. Baker Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 8,000 units in its beginning work in process inventory that were 90% complete with respect to conversion costs. An additional 95,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 11,000 units in the ending work in process inventory of the Assembly Department that were 90% complete with respect to conversion costs.
What were the equivalent units for conversion costs in the Assembly Department for the month?

A. 94,700

B. 101,900

C. 98,000

D. 92,000

32. Larner Corporation uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below:

Units Percent Complete with Respect to Conversion
Beginning work in process inventory 24,000 40%
Started into production during June 86,000
Ending work in process inventory 19,000 20%

According to the companys records, the conversion cost in beginning work in process inventory was $68,064 at the beginning of June. Additional conversion costs of $585,324 were incurred in the department during the month.
The cost per equivalent unit for conversion costs for the month is closest to:

A. $6.892

B. $6.806

C. $5.575

D. $7.090

33. Harker Corporation uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 16,000 units in its beginning work in process inventory that were 40% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $29,440. An additional 59,000 units were started into production during the month and 61,000 units were completed in the Welding Department and transferred to the next processing department. There were 14,000 units in the ending work in process inventory of the Welding Department that were 10% complete with respect to conversion costs. A total of $246,400 in conversion costs were incurred in the department during the month.
The cost per equivalent unit for conversion costs for the month is closest to:

A. $4.176

B. $4.600

C. $3.375

D. $4.421

34. Paxton Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the departments operations in January.

Units Percent Complete with Respect to Conversion
Beginning work in process inventory 2,700 80%
Transferred in from the prior department during January 57,000
Completed and transferred to the next department during January 50,300
Ending work in process inventory 9,400 20%

The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $10,973 and a total of $268,107 in conversion costs were incurred in the department during January.
The cost per equivalent unit for conversion costs for January in the Molding Department is closest to:

A. $5.348

B. $4.038

C. $5.080

D. $4.704

35. Barnett Corporation uses the weighted-average method in its process costing system. The company adds materials at the beginning of the process in Department M. Conversion costs were 75% complete with respect to the 4,000 units in work in process at May 1 and 50% complete with respect to the 6,000 units in work in process at May 31. During May, 12,000 units were completed and transferred to the next department. An analysis of the costs relating to work in process at May 1 and to production activity for May follows:

Materials Conversion
Work in process May 1 $13,800 $3,740
Costs added during May $42,000 $26,260

The total cost per equivalent unit for May was:

A. $5.02

B. $5.10

C. $5.12

D. $5.25

36. David Corporation uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 20,000 units in its beginning work in process inventory that were 80% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $123,200. An additional 65,000 units were started into production during the month. There were 19,000 units in the ending work in process inventory of the Welding Department that were 10% complete with respect to conversion costs. A total of $389,250 in conversion costs were incurred in the department during the month.
The cost per equivalent unit for conversion costs for the month is closest to:

A. $7.547

B. $7.700

C. $4.634

D. $5.988

37. Jimmy Corporation uses the weighted-average method in its process costing system. The ending work in process inventory consists of 9,000 units. The ending work in process inventory is 100% complete with respect to materials and 70% complete with respect to labor and overhead. If the cost per equivalent unit for the period is $3.75 for material and $1.25 for labor and overhead, what is the balance of the ending work in process inventory account?

A. $41,625

B. $33,750

C. $45,000

D. $31,500

38. Stay Corporation uses the weighted-average method in its process costing system. The companys ending work in process inventory consists of 8,000 units, 60% complete with respect to materials and 80% complete with respect to conversion costs. If the total cost in this inventory is $200,000 and if the cost for materials is $16 per equivalent unit for the period, the conversion cost per equivalent unit of the production for the period must be:

A. $19.25

B. $16.00

C. $25.67

D. $31.25

39. Walborn Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 11,000 units, 100% complete with respect to materials cost and 30% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $22,400. A total of 45,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.20 for materials and $3.40 for conversion costs. The total cost of the units completed and transferred out of the department was:

A. $207,000

B. $184,600

C. $204,980

D. $182,580

40. Trapp Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 3,000 units that were 70% complete with respect to materials and 60% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $10,000. During the period, 9,000 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $2.00 for material and $3.00 for conversion costs. The cost of units transferred out during the month was:

A. $39,600

B. $45,000

C. $45,400

D. $35,400

41. Valley Manufacturing Corporations beginning work in process inventory consisted of 10,000 units, 100% complete with respect to materials cost and 40% complete with respect to conversion costs. The total cost in the beginning inventory was $30,000. During the month, 50,000 units were transferred out. The equivalent unit cost was computed to be $2.00 for materials and $3.70 for conversion costs under the weighted-average method. Given this information, the total cost of the units completed and transferred out was:

A. $255,000

B. $270,000

C. $240,000

D. $285,000

42. Sarver Corporation uses the weighted-average method in its process costing system. The Fitting Department is the second department in its production process. The data below summarize the departments operations in March.

Units Percent Complete with Respect to Conversion
Beginning work in process inventory 7,100 70%
Transferred in from the prior department during March
61,000
Ending work in process inventory 4,600 30%

The Fitting Departments cost per equivalent unit for conversion cost for March was $8.24.
How much conversion cost was assigned to the units transferred out of the Fitting Department during March?

A. $482,287.20

B. $502,640.00

C. $523,240.00

D. $561,144.00

43. Rariton Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the departments operations in January.

Units Percent Complete with Respect to Conversion
Beginning work in process inventory 4,800 60%
Transferred in from the prior department during January
78,000
Completed and transferred to the next department during January
80,900
Ending work in process inventory 1,900 40%

The Molding Departments cost per equivalent unit for conversion cost for January was $5.37.
How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January?

A. $4,081.20

B. $10,203.00

C. $10,310.40

D. $6,121.80

44. In May, one of the processing departments at Stitzel Corporation had beginning work in process inventory of $16,000 and ending work in process inventory of $27,000. During the month, the cost of units transferred out from the department was $160,000. In the departments cost reconciliation report for May, the total cost to be accounted for under the weighted-average method would be:

A. $203,000

B. $43,000

C. $171,000

D. $187,000

45. In February, one of the processing departments at Manger Corporation had beginning work in process inventory of $25,000 and ending work in process inventory of $34,000. During the month, $290,000 of costs were added to production and the cost of units transferred out from the department was $281,000. In the departments cost reconciliation report for February, the total cost to be accounted for under the weighted-average method would be:

A. $59,000

B. $605,000

C. $630,000

D. $315,000

46. Arizaga Corporation manufactures canoes in two departments, Fabrication and Waterproofing. In the Fabrication Department, fiberglass panels are attached to a canoe-shaped aluminum frame. The canoes are then transferred to the Waterproofing department to be coated with sealant. Arizaga uses a weighted-average process cost system to collect costs in both departments.
All materials in the Fabrication Department are added at the beginning of the production process. On July 1, the Fabrication Department had 320 canoes in process that were 20% complete with respect to conversion cost. On July 31, Fabrication had 540 canoes in process that were 30% complete with respect to conversion cost. During July, the Fabrication Department completed 6,700 canoes and transferred them to the Waterproofing Department.

What are the Fabrication Departments equivalent units related to materials for July?

A. 6,160

B. 6,380

C. 6,920

D. 7,240

47. Arizaga Corporation manufactures canoes in two departments, Fabrication and Waterproofing. In the Fabrication Department, fiberglass panels are attached to a canoe-shaped aluminum frame. The canoes are then transferred to the Waterproofing department to be coated with sealant. Arizaga uses a weighted-average process cost system to collect costs in both departments.
All materials in the Fabrication Department are added at the beginning of the production process. On July 1, the Fabrication Department had 320 canoes in process that were 20% complete with respect to conversion cost. On July 31, Fabrication had 540 canoes in process that were 30% complete with respect to conversion cost. During July, the Fabrication Department completed 6,700 canoes and transferred them to the Waterproofing Department.

What are the Fabrication Departments equivalent units related to conversion costs for July?

A. 6,542

B. 6,798

C. 6,862

D. 7,078

48. Arizaga Corporation manufactures canoes in two departments, Fabrication and Waterproofing. In the Fabrication Department, fiberglass panels are attached to a canoe-shaped aluminum frame. The canoes are then transferred to the Waterproofing department to be coated with sealant. Arizaga uses a weighted-average process cost system to collect costs in both departments.
All materials in the Fabrication Department are added at the beginning of the production process. On July 1, the Fabrication Department had 320 canoes in process that were 20% complete with respect to conversion cost. On July 31, Fabrication had 540 canoes in process that were 30% complete with respect to conversion cost. During July, the Fabrication Department completed 6,700 canoes and transferred them to the Waterproofing Department.

What journal entry should Arizaga make to record the completion of the production process by the Waterproofing Department?

A) Raw Materials XXX
Work in Process Waterproofing XXX
B) Manufacturing Overhead XXX
Work in Process Waterproofing XXX
C) Finished Goods XXX
Work in Process Waterproofing XXX
D) Finished Goods XXX
Work in Process Fabrication XXX
Work in Process Waterproofing XXX

A. Option A

B. Option B

C. Option C

D. Option D

49. The following information relates to the Blending Department of Kedakai Products Corporation for the month of May. Kedakai uses a weighted-average process costing system.

Work in process, beginning (May 1):
Units in process 30,000
Percent complete with respect to materials 100%
Percent complete with respect to conversion 10%
Units completed and transferred out during May 290,000
Work in process, ending (May 31):
Units in process 17,000
Percent complete with respect to materials 100%
Percent complete with respect to conversion 80%

What are the Blending Departments equivalent units related to materials for May?

A. 260,000

B. 277,000

C. 290,000

D. 307,000

50. The following information relates to the Blending Department of Kedakai Products Corporation for the month of May. Kedakai uses a weighted-average process costing system.

Work in process, beginning (May 1):
Units in process 30,000
Percent complete with respect to materials 100%
Percent complete with respect to conversion 10%
Units completed and transferred out during May 290,000
Work in process, ending (May 31):
Units in process 17,000
Percent complete with respect to materials 100%
Percent complete with respect to conversion 80%

What are the Blending Departments equivalent units related to conversion costs for May?

A. 266,400

B. 290,400

C. 293,400

D. 303,600

51. Jublot Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 900
Materials costs $11,200
Conversion costs $9,800
Percent complete with respect to materials 60%
Percent complete with respect to conversion 40%
Units started into production during the month 7,100
Units transferred to the next department during the month 6,000
Materials costs added during the month $115,800
Conversion costs added during the month $145,800
Ending work in process inventory:
Units in ending work in process inventory 2,000
Percent complete with respect to materials 55%
Percent complete with respect to conversion 35%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
The cost per equivalent unit for materials for the month in the first processing department is closest to:

A. $16.31

B. $17.89

C. $14.48

D. $15.88

52. Jublot Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 900
Materials costs $11,200
Conversion costs $9,800
Percent complete with respect to materials 60%
Percent complete with respect to conversion 40%
Units started into production during the month 7,100
Units transferred to the next department during the month 6,000
Materials costs added during the month $115,800
Conversion costs added during the month $145,800
Ending work in process inventory:
Units in ending work in process inventory 2,000
Percent complete with respect to materials 55%
Percent complete with respect to conversion 35%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
The cost per equivalent unit for conversion costs for the first department for the month is closest to:

A. $21.76

B. $19.45

C. $23.22

D. $24.38

53. Dodd Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $7,500 75%
Conversion costs $4,000 45%

A total of 5,400 units were started and 4,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $112,900
Conversion costs $93,900

The ending inventory was 85% complete with respect to materials and 30% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

How many units are in ending work in process inventory in the first processing department at the end of the month?

A. 700

B. 5,000

C. 900

D. 1,100

54. Dodd Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $7,500 75%
Conversion costs $4,000 45%

A total of 5,400 units were started and 4,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $112,900
Conversion costs $93,900

The ending inventory was 85% complete with respect to materials and 30% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

What are the equivalent units for conversion costs for the month in the first processing department?

A. 5,800

B. 5,030

C. 4,700

D. 330

55. Dodd Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $7,500 75%
Conversion costs $4,000 45%

A total of 5,400 units were started and 4,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $112,900
Conversion costs $93,900

The ending inventory was 85% complete with respect to materials and 30% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The cost per equivalent unit for materials for the month in the first processing department is closest to:

A. $21.37

B. $19.47

C. $20.04

D. $20.76

56. Ibarra Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 800
Materials costs $7,700
Conversion costs $3,500
Percent complete with respect to materials 60%
Percent complete with respect to conversion 10%
Units started into production during the month 7,800
Units transferred to the next department during the month 6,800
Materials costs added during the month $101,100
Conversion costs added during the month $271,100
Ending work in process inventory:
Units in ending work in process inventory 1,800
Percent complete with respect to materials 80%
Percent complete with respect to conversion 15%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

What are the equivalent units for conversion costs for the month in the first processing department?

A. 7,070

B. 6,800

C. 8,600

D. 270

57. Ibarra Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 800
Materials costs $7,700
Conversion costs $3,500
Percent complete with respect to materials 60%
Percent complete with respect to conversion 10%
Units started into production during the month 7,800
Units transferred to the next department during the month 6,800
Materials costs added during the month $101,100
Conversion costs added during the month $271,100
Ending work in process inventory:
Units in ending work in process inventory 1,800
Percent complete with respect to materials 80%
Percent complete with respect to conversion 15%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The cost per equivalent unit for materials for the month in the first processing department is closest to:

A. $11.76

B. $13.20

C. $12.65

D. $12.27

58. Evans Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 900 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $10,800 85%
Conversion costs $28,100 75%

A total of 8,100 units were started and 6,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $80,000
Conversion costs $247,400

The ending inventory was 60% complete with respect to materials and 10% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

What are the equivalent units for conversion costs for the month in the first processing department?

A. 9,000

B. 7,020

C. 6,800

D. 220

59. Evans Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 900 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $10,800 85%
Conversion costs $28,100 75%

A total of 8,100 units were started and 6,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $80,000
Conversion costs $247,400

The ending inventory was 60% complete with respect to materials and 10% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The cost per equivalent unit for materials for the month in the first processing department is closest to:

A. $10.09

B. $11.18

C. $9.85

D. $8.89

60. Evans Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 900 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $10,800 85%
Conversion costs $28,100 75%

A total of 8,100 units were started and 6,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $80,000
Conversion costs $247,400

The ending inventory was 60% complete with respect to materials and 10% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The total cost transferred from the first processing department to the next processing department during the month is closest to:

A. $342,904

B. $453,843

C. $366,300

D. $327,400

61. Acklac Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $12,000 65%
Conversion costs $2,000 10%

A total of 9,200 units were started and 8,300 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $200,800
Conversion costs $225,500

The ending inventory was 75% complete with respect to materials and 15% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

What are the equivalent units for conversion costs for the month in the first processing department?

A. 8,300

B. 240

C. 9,900

D. 8,540

62. Acklac Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $12,000 65%
Conversion costs $2,000 10%

A total of 9,200 units were started and 8,300 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $200,800
Conversion costs $225,500

The ending inventory was 75% complete with respect to materials and 15% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The cost per equivalent unit for materials for the month in the first processing department is closest to:

A. $22.40

B. $20.28

C. $21.14

D. $21.49

63. Acklac Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $12,000 65%
Conversion costs $2,000 10%

A total of 9,200 units were started and 8,300 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $200,800
Conversion costs $225,500

The ending inventory was 75% complete with respect to materials and 15% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The cost per equivalent unit for conversion costs for the first department for the month is closest to:

A. $26.64

B. $26.41

C. $27.97

D. $22.98

64. Acklac Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $12,000 65%
Conversion costs $2,000 10%

A total of 9,200 units were started and 8,300 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $200,800
Conversion costs $225,500

The ending inventory was 75% complete with respect to materials and 15% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The total cost transferred from the first processing department to the next processing department during the month is closest to:

A. $485,486

B. $407,024

C. $426,300

D. $440,300

65. Acklac Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $12,000 65%
Conversion costs $2,000 10%

A total of 9,200 units were started and 8,300 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $200,800
Conversion costs $225,500

The ending inventory was 75% complete with respect to materials and 15% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The cost of ending work in process inventory in the first processing department according to the companys cost system is closest to:

A. $33,273

B. $11,769

C. $78,462

D. $58,847

66. Lumb Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 200
Materials costs $2,800
Conversion costs $2,600
Percent complete with respect to materials 60%
Percent complete with respect to conversion 35%
Units started into production during the month 7,900
Units transferred to the next department during the month 7,400
Materials costs added during the month $166,000
Conversion costs added during the month $261,000
Ending work in process inventory:
Units in ending work in process inventory 700
Percent complete with respect to materials 85%
Percent complete with respect to conversion 45%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

What are the equivalent units for materials for the month in the first processing department?

A. 595

B. 7,995

C. 8,100

D. 7,400

67. Lumb Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 200
Materials costs $2,800
Conversion costs $2,600
Percent complete with respect to materials 60%
Percent complete with respect to conversion 35%
Units started into production during the month 7,900
Units transferred to the next department during the month 7,400
Materials costs added during the month $166,000
Conversion costs added during the month $261,000
Ending work in process inventory:
Units in ending work in process inventory 700
Percent complete with respect to materials 85%
Percent complete with respect to conversion 45%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The cost per equivalent unit for conversion costs for the first department for the month is closest to:

A. $35.88

B. $32.54

C. $34.17

D. $33.83

68. Lumb Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 200
Materials costs $2,800
Conversion costs $2,600
Percent complete with respect to materials 60%
Percent complete with respect to conversion 35%
Units started into production during the month 7,900
Units transferred to the next department during the month 7,400
Materials costs added during the month $166,000
Conversion costs added during the month $261,000
Ending work in process inventory:
Units in ending work in process inventory 700
Percent complete with respect to materials 85%
Percent complete with respect to conversion 45%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The cost of ending work in process inventory in the first processing department according to the companys cost system is closest to:

A. $32,892

B. $23,325

C. $17,413

D. $38,696

69. Yoder Corporation uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month:

Work in process, beginning:
Units in process 40,000
Percent complete with respect to materials 70%
Percent complete with respect to conversion 60%
Costs in the beginning inventory:
Materials cost $8,600
Conversion cost $4,800
Units started into production during the month 750,000
Units completed and transferred out during the month ?
Costs added to production during the month:
Materials cost $223,000
Conversion cost $149,000
Work in process, ending:
Units in process 30,000
Percent complete with respect to materials 40%
Percent complete with respect to conversion 30%

How many units were completed and transferred to the next department during the month?

A. 750,000 units

B. 790,000 units

C. 760,000 units

D. 740,000 units

70. Yoder Corporation uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month:

Work in process, beginning:
Units in process 40,000
Percent complete with respect to materials 70%
Percent complete with respect to conversion 60%
Costs in the beginning inventory:
Materials cost $8,600
Conversion cost $4,800
Units started into production during the month 750,000
Units completed and transferred out during the month ?
Costs added to production during the month:
Materials cost $223,000
Conversion cost $149,000
Work in process, ending:
Units in process 30,000
Percent complete with respect to materials 40%
Percent complete with respect to conversion 30%

What was the cost per equivalent unit for materials during the month?

A. $0.30

B. $0.25

C. $0.20

D. $0.15

71. Yoder Corporation uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month:

Work in process, beginning:
Units in process 40,000
Percent complete with respect to materials 70%
Percent complete with respect to conversion 60%
Costs in the beginning inventory:
Materials cost $8,600
Conversion cost $4,800
Units started into production during the month 750,000
Units completed and transferred out during the month ?
Costs added to production during the month:
Materials cost $223,000
Conversion cost $149,000
Work in process, ending:
Units in process 30,000
Percent complete with respect to materials 40%
Percent complete with respect to conversion 30%

How much cost, in total, was assigned to the ending work in process inventory?

A. $2,600

B. $4,300

C. $15,000

D. $5,400

72. Guo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $7,300 55%
Conversion costs $2,100 10%

A total of 9,700 units were started and 9,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $237,800
Conversion costs $376,400

The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to three decimal places.

How many units are in ending work in process inventory in the first processing department at the end of the month?

A. 900

B. 1,100

C. 600

D. 9,200

73. Guo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $7,300 55%
Conversion costs $2,100 10%

A total of 9,700 units were started and 9,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $237,800
Conversion costs $376,400

The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to three decimal places.

What are the equivalent units for materials for the month in the first processing department?

A. 935

B. 9,100

C. 10,200

D. 10,035

74. Guo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $7,300 55%
Conversion costs $2,100 10%

A total of 9,700 units were started and 9,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $237,800
Conversion costs $376,400

The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to three decimal places.

What are the equivalent units for conversion costs for the month in the first processing department?

A. 9,925

B. 10,200

C. 9,100

D. 825

75. Guo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $7,300 55%
Conversion costs $2,100 10%

A. $23.31

B. $23.70

C. $24.43

D. $24.03

76. Guo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $7,300 55%
Conversion costs $2,100 10%

A total of 9,700 units were started and 9,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $237,800
Conversion costs $376,400

The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to three decimal places.

The cost per equivalent unit for conversion costs for the first department for the month is closest to:

A. $37.11

B. $38.14

C. $40.05

D. $37.92

77. Guo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $7,300 55%
Conversion costs $2,100 10%

A total of 9,700 units were started and 9,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $237,800
Conversion costs $376,400

The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you
computed. To reduce rounding error, carry out all computations to three decimal places.

The total cost transferred from the first processing department to the next processing department during the month is closest to:

A. $623,600

B. $638,122

C. $614,200

D. $569,305

78. Guo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete
Materials costs $7,300 55%
Conversion costs $2,100 10%

A total of 9,700 units were started and 9,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs $237,800
Conversion costs $376,400

The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to three decimal places.

The cost of ending work in process inventory in the first processing department according to the companys cost system is closest to:

A. $54,300

B. $51,613

C. $58,495

D. $68,817

79. Kuzuck Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 200
Materials costs $4,800
Conversion costs $2,200
Percent complete with respect to materials 80%
Percent complete with respect to conversion 35%
Units started into production during the month 9,400
Units transferred to the next department during the month 9,000
Materials costs added during the month $255,500
Conversion costs added during the month $280,700
Ending work in process inventory:
Units in ending work in process inventory 600
Percent complete with respect to materials 80%
Percent complete with respect to conversion 15%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The total cost transferred from the first processing department to the next processing department during the month is closest to:

A. $562,368

B. $543,200

C. $527,220

D. $536,200

80. Kuzuck Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 200
Materials costs $4,800
Conversion costs $2,200
Percent complete with respect to materials 80%
Percent complete with respect to conversion 35%
Units started into production during the month 9,400
Units transferred to the next department during the month 9,000
Materials costs added during the month $255,500
Conversion costs added during the month $280,700
Ending work in process inventory:
Units in ending work in process inventory 600
Percent complete with respect to materials 80%
Percent complete with respect to conversion 15%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The cost of ending work in process inventory in the first processing department according to the companys cost system is closest to:

A. $28,118

B. $15,981

C. $35,148

D. $5,272

81. Hache Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 700
Materials costs $8,000
Conversion costs $7,800
Percent complete with respect to materials 50%
Percent complete with respect to conversion 35%
Units started into production during the month 5,200
Units transferred to the next department during the month 4,400
Materials costs added during the month $90,300
Conversion costs added during the month $125,600
Ending work in process inventory:
Units in ending work in process inventory 1,500
Percent complete with respect to materials 50%
Percent complete with respect to conversion 30%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

What are the equivalent units for materials for the month in the first processing department?

A. 750

B. 5,900

C. 4,400

D. 5,150

82. Hache Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 700
Materials costs $8,000
Conversion costs $7,800
Percent complete with respect to materials 50%
Percent complete with respect to conversion 35%
Units started into production during the month 5,200
Units transferred to the next department during the month 4,400
Materials costs added during the month $90,300
Conversion costs added during the month $125,600
Ending work in process inventory:
Units in ending work in process inventory 1,500
Percent complete with respect to materials 50%
Percent complete with respect to conversion 30%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding e

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