Exam 5: Process Cost Accounting--General Procedures

Department B had 1,000 units in beginning work-in-process which had transferred in costs of $2,500 from Department A associated with them.During the period,12,000 more units having costs of $36,000 were transferred in to Department B from Department A.What is the unit cost for the units transferred from Department A.

All of the following are characteristics of a production report except:

The production report for Phillips Industries,which had no beginning inventory at the beginning of the month,included the following information for September: If the equivalent units for September's production were 77,400,how many units were in process at the end of the month,and how complete were they?

Information concerning the materials used in the Mixing Department in October is as follows: If the ending work-in-process inventory is 50% complete,using the average cost method,what was the materials cost in Work in Process at October 31?

Wolf Company has two departments,Mixing and Curing.The following information is available for September: The entry to record the transfer of inventory from the mixing to the curing department is:

In a company that uses process costing,the cost of goods manufactured is equal to:

Consider the following cost of production summary for Carrigan Products for May. a.Prepare the journal entries to record the production activity. b.Prepare the Statement of Cost of Goods Manufactured for May.

Characteristics that job order costing and process costing have in common include all of the following except:

Howard Corporation has two production departments.Curing has 12,000 units in process at the beginning of the period,3 / 4 complete.During the period,45,000 units were received from Crushing,48,000 units were transferred to Finished Goods,and 9,000 units were in process at the end of the period,2/ 3 complete.Cost information was as follows: a.Determine the unit cost for the month in Curing. b.Determine the total cost of the products transferred to Finished Goods. c.Determine the total cost of the ending Work in Process inventory.

A characteristic of a process cost accounting system is:

The beginning work in process inventory is 60 percent complete,and the ending work in process inventory is 50 percent complete.The dollar amount of the production cost included in the ending work in process inventory (using the average cost method)is determined by multiplying the average unit costs by what percentage of the total units in the ending work in process inventory?

Michael Company had 2,000 units in work in process at January 1 that were 80 percent complete.During January,15,000 units were completed.At January 31,4,000 units remained in work in process that were 40 percent complete.Using the average cost method,how many units were started during January?

The Paul Manufacturing Company uses the process cost system and the average cost method.The following production data are for the month of April,20--. Prepare a cost of production summary for the month.

The Assembly Department is the second stage of Pine Company's production cycle.On May 1,the beginning work in process contained 15,000 units that were 40 percent complete.During May,85,000 units were transferred in from the first stage of Pine's production cycle.On May 31,the ending work in process contained 20,000 units that were 75 percent complete.Using the average cost method,the equivalent units of the Assembly Department are:

The cost of production summary for Maha Industries follows: What is the journal entry to record materials issued into production?

Wolf Company has two departments,Mixing and Curing.The following information is available for September: The entry to record the transfer of inventory from the curing department to the warehouse is:

Using the data presented below,determine the figures that should be inserted in the blank spaces.

Howell Company uses the average cost method of process costing.Howell had 1,000 units in beginning work-in-process which were 75% complete.Costs associated with this inventory were $3,200.When calculating the cost per equivalent unit for the month of June,Howell's controller should:

Bear Printing prints one brochure in two departments on a continuous basis and uses the average cost method of process cost accounting.The following information was reported for the month of April,20--: In addition,the cost of production summary for the Binding Department follows: Prepare the Statement of Cost of Goods Manufactured.

Using the average cost method of process costing,the computation of manufacturing cost per equivalent unit considers: