Exam 6: Process Cost Accounting Additional Procedures

The following information is available for the month of August from the First department of the Twigg Corporation: Materials are added at the end of the process in the First department. Using the average cost method, what are the equivalent units of production for the month of August? Materials Conversion

Plemmon Company adds materials at the beginning of the process in the forming department, which is the first of two stages of its production cycle. Information concerning the materials used in the forming department in April follows: Using the average cost method, what is the materials cost of the work in process at April 30 (rounded to nearest dollar)?

Material is added at the beginning of a process in a process costing system. The beginning work in process inventory for this process this period was 30 percent complete as to conversion costs. Using the first-in, first-out method of costing, the total equivalent units for material for this process during this period are equal to the:

Regina Manufacturing uses the FIFO method of process costing. The production report for the Curing Department, where the materials are added at the beginning of the period, for September was as follows: The number of units started and completed during the period was:

The following information is available for the month of April from the First department of the Armque Corporation: Materials are added in the beginning of the process in the First department. Using the first-in, first-out method, what are the equivalent units of production for the month of April?

If a company produces two products, A and B, from a joint process, and B requires additional processing after the split-off in order to be salable, how is the joint cost allocated to B determined?

Joint costs are commonly allocated based upon relative:

Budde Chemicals produces two industrial chemical compounds, X15 and Z24, from the same process, which last year, cost $300,000. Budde produced 15,000 gallons of X15, which sells for $40 per gallon and 45,000 gallons of Z24, which sells for $20 per gallon. Using the physical units method, how much of the joint cost should be allocated to X15?

In a process cost system, the cost attributable to abnormal losses that occur due to unexpected circumstances such as machine operator error should be assigned to: