Exam 6: Systems Design: Process Costing

(Appendix 6A)Assuming that the company uses the FIFO method,what are the equivalent units of production for conversion costs for the refining Department for the month?

(Appendix 6A)The "Quantity Schedule and Equivalent Units" section of the production report is the same for the weighted-average method and the FIFO method of process costing.

Lucas Company uses the weighted-average method in its process costing system.The company adds materials at the beginning of the process in the Forming Department,which is the first of two stages in its production process.Information concerning operations in the Forming Department in October follows: What was the materials cost of work in process on October 31?

Assuming that the company uses the weighted-average cost method,what are the equivalent units of production for conversion costs for the Refining Department for the month?

(Appendix 6A)Assuming that the company uses the FIFO method,what is the cost per equivalent unit for conversion costs for the month in the refining Department,rounded to the nearest cent?

Jawson Company uses the weighted-average method in its process costing system.Operating data for the Painting Department for the month of April appear below: What were the equivalent units of production for conversion costs in the Painting Department for April?

What are the equivalent units of production for labour and overhead for the month of May?

Assuming that Cherrington Company uses the weighted-average method,what is the cost per equivalent unit for conversion costs for May,rounded to the nearest cent?

(Appendix 6A)Oxyrom Company uses the FIFO method in its process costing system.Operating data for the Brazing Department for the month of November appear below: What were the equivalent units of production for conversion costs in the Brazing Department for November?

Assuming that Tru-Colour Paint Company uses the weighted-average method,what are the equivalent units of production for materials?

When computing the cost per equivalent unit,it is NOT necessary to consider the percentage of completion of the units in beginning inventory under the weighted-average method.

(Appendix 6A)Index Company uses the FIFO method in its process costing system.The first processing department,the Forming Department,started the month with 17,000 units in its beginning work-in-process inventory;the units were 10% complete with respect to conversion costs.The conversion cost in this beginning work-in-process inventory was $9,010.An additional 76,000 units were started into production during the month,and 83,000 units were completed and transferred to the next processing department.There were 10,000 units in the ending work-in-process inventory of the Forming Department;70% of the units were complete with respect to conversion costs.A total of $445,915 in conversion costs were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for the month on the Forming Department's production report? (Round off to three decimal places. )

Narver Company uses the weighted-average method in its process costing system.Operating data for the Lubricating Department for the month of October appear below: What were the equivalent units of production for conversion costs in the Lubricating Department for October?

(Appendix 6A)Suppose there was no separate breakdown of the total cost of the beginning work-in-process inventory of $90,120 into materials ($54,560)and conversion ($35,560).Which method of accounting would not have been possible to use?

The following journal entry would be made in a process costing system when units that have been completed with respect to the work done in the final processing department are transferred to the finished goods warehouse:

The "Total cost to be accounted for" section of the production report for the month will show an amount equal to which of the following?

Able Inc.uses the weighted-average method in its process costing system.The following data concern the operations of the company's first processing department for a recent month: Required: Prepare a production report for the department using the weighted-average method.

(Appendix 6A)Carson Company uses the FIFO method in its process costing system.The Assembly Department started the month with 6,000 units in its beginning work-in-process inventory;20% of the units were complete with respect to conversion costs.An additional 74,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department.Of the 8,000 units in the ending work-in-process inventory of the Assembly Department,60% were complete with respect to conversion costs. What were the equivalent units of production for conversion costs in the Assembly Department for the month?

(Appendix 6A)What are the equivalent units of production for material for the month?

Assuming that the company uses the weighted-average method,what is the cost per equivalent unit for conversion costs for June,rounded to the nearest cent?