Exam 15: Process Costing

If beginning work in process is 4,000 units, ending work in process is 2,000 units, and the units accounted for equals 15,000 units, what must units started into production be?

Madison Industries has equivalent units of 8,000 for materials and for conversion costs. Total manufacturing costs are $128,000. Total materials costs are $96,000. How much is the conversion cost per unit?

A process with no beginning work in process, completed and transferred out 35,000 units during a period and had 14,000 units in the ending work in process that were 50% complete. How much is equivalent units of production for the period for conversion costs?

A primary driver of overhead costs in continuous manufacturing operations is machine time used.

Price Company assigns overhead based on machine hours. The Milling Department logs 2,400 machine hours and Cutting Department shows 4,000 machine hours for the period. If the overhead rate is $5 per machine hour, the entry to assign overhead will show a

In the month of June, a department had 20,000 units in beginning work in process that were 70% complete. During June, 90,000 units were transferred into production from another department. At the end of June there were 10,000 units in ending work in process that were 40% complete. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. How many units were transferred out of the process in June?

The total costs accounted for in a production cost report equal the

Differences between a job order cost system and a process cost system include all of the following except the

Which of the following would not appear as a debit in the Work in Process account of a second department in a two stage production process?

In the Shaping Department of Jenkins Company the unit materials cost is $3.00 and the unit conversion cost is $1.80. The department transferred out 8,000 units and had 2,000 units in ending work in process 20% complete. If all materials are added at the beginning of the process, the total cost to be assigned to the ending work in process is

In a process cost system, costs are tracked through a series of connected manufacturing processes or departments, rather than by individual jobs.

Department 1 of a two department production process shows: Units Beginning Work in Process 10,000 Ending Work in Process 50,000 Total units to be accounted for 180,000 How many units were transferred out to Department 2?

There are no units in process at the beginning of the period, 1,500 units in process at the end of the period that are 40% complete, and 15,000 units transferred out during the period. Based on this information, there were 14,400 equivalent units of production during the period.

If there are 20,000 units in a process that are 70% complete, these are referred to as:

In the month of June, a department had 20,000 units in beginning work in process that were 70% complete. During June, 90,000 units were transferred into production from another department. At the end of June there were 10,000 units in ending work in process that were 40% complete. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. The equivalent units of production for conversion costs for June were

In process cost accounting, manufacturing costs are summarized on a

A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 90,000 units were started into production in January; and there were 20,000 units that were 40% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for conversion costs for the month of January?

Honrad Company's Assembly Department has materials cost at $4 per unit and conversion cost at $8 per unit. There are 30,000 units in ending work in process, all of which are 70% complete as to conversion costs. Materials are added at the beginning of the process. How much are total costs to be assigned to inventory?

Corsi Company had the following department data: Physical Units Work in process, beginning -0- Completed and transferred out 90,000 Work in process, ending 7,000 Materials are added at the beginning of the process. What is the total number of equivalent units for materials during the period?

A characteristic of products that are mass-produced in a continuous fashion is that