Deck 4: Process Costing

Question 1

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.

Answer 1

False

Question 2

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.

Answer 2

False

Question 3

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

Answer 3

True

Question 4

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.

Question 5

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)Option A
B)Option B
C)Option C
D)Option D

Question 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.

Question 7

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.

Question 8

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.

Question 9

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

Question 10

Costs are accumulated by department in a process costing system.

Question 11

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:

Question 12

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.

Question 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.

Question 14

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

Question 15

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 April's ending work in process in Finishing.
B)units in May's beginning work in process in Finishing.
C)units started in production in Finishing for April.
D)units started in production in Finishing for May.

Question 16

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

Question 17

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.

Question 18

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.

Question 19

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.

Question 20

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

Question 21

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

Question 22

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: 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

Question 23

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.

Question 24

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

Question 25

When the weighted-average method of process costing is used,a department's 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.

Question 26

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

Question 27

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: According to the company's 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

Question 28

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

A)Option A
B)Option B
C)Option C
D)Option D

Question 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: 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

Question 30

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

Question 31

Stay Corporation uses the weighted-average method in its process costing system.The company's 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

Question 32

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

Question 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

Question 34

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

Question 35

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 department's operations in January. 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

Question 36

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

Question 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

Question 38

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

Question 39

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: The total cost per equivalent unit for May was:

A)$5.02
B)$5.10
C)$5.12
D)$5.25

Question 40

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 Health's two departments for the month of January: 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

Question 41

Valley Manufacturing Corporation's 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

Question 42

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: 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: 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

Question 43

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. What are the Blending Department's equivalent units related to conversion costs for May?

A)266,400
B)290,400
C)293,400
D)303,600

Question 44

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: 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

Question 45

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: 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: 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

Question 46

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: 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

Question 47

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: 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: 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

Question 48

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. What are the Blending Department's equivalent units related to materials for May?

A)260,000
B)277,000
C)290,000
D)307,000

Question 49

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 Department's equivalent units related to conversion costs for July?

A)6,542
B)6,798
C)6,862
D)7,078

Question 50

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: 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

Question 51

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: 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: 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

Question 52

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: 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: 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

Question 53

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: 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

Question 54

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 department's 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

Question 55

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 department's 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

Question 56

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 department's operations in March. The Fitting Department's 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

Question 57

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: 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: 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

Question 58

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 Department's equivalent units related to materials for July?

A)6,160
B)6,380
C)6,920
D)7,240

Question 59

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 department's operations in January. The Molding Department's 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

Question 60

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)Option A
B)Option B
C)Option C
D)Option D

Question 61

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:

A)$23.31
B)$23.70
C)$24.43
D)$24.03

Question 62

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: 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

Question 63

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: 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

Question 64

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: 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: 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

Question 65

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: 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: 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

Question 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: 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

Question 67

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: 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: 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

Question 68

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: 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: 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

Question 69

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: 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: 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

Question 70

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: 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: 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

Question 71

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: 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: 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

Question 72

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: 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 company's cost system is closest to:

A)$28,118
B)$15,981
C)$35,148
D)$5,272

Question 73

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: 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: 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

Question 74

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: 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 company's cost system is closest to:

A)$32,892
B)$23,325
C)$17,413
D)$38,696

Question 75

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: 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

Question 76

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: 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

Question 77

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

A)$0.30
B)$0.25
C)$0.20
D)$0.15

Question 78

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: 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: 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

Question 79

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: 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: 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 company's cost system is closest to:

A)$54,300
B)$51,613
C)$58,495
D)$68,817

Question 80

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: 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: 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 company's cost system is closest to:

A)$33,273
B)$11,769
C)$78,462
D)$58,847