Exam 15: Process Costing

Crawford Company has the following equivalent units for July: materials 20,000 and conversion costs 18,000. Production cost data are: Materials Conversion Work in process, July 1 \ 6,400 \ 3,000 Costs added in . July 50,400 42,000 $\text { The unit production costs for July are: }$ Materials Conversion Costs a. \ 2.52 \ 2.50 b. 2.84 2.33 c. 2.52 2.33 d. 2.84 2.50

Materials costs of $1,200,000 and conversion costs of $1,530,000 were charged to a processing department in the month of September. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. There were no units in beginning work in process, 20,000 units were started into production in September, and there were 5,000 units in ending work in process that were 40% complete at the end of September. What was the total amount of manufacturing costs assigned to those units that were completed and transferred out of the process in September?

The flow of costs in a process costing system requires that materials be added in one department, labor added in another department and manufacturing overhead in a third department.

If 150,000 units are started into production there was no beginning work in process, and 50,000 units are in process at the end of the period, how many units were completed and transferred out?

The last department in a production process shows the following information at the end of the period: Units Beginning Work in Process 25,000 Started into Production 240,000 Ending Work in Process 50,000 How many units have been transferred out to finished goods during the period?

In Kapler Company, the Cutting Department had beginning work in process of 8,000 units, transferred out 25,000 units, and had an ending work in process of 4,000 units. How many units were started by Kapler during the month?

Conversion cost per unit equals $7.00. Total materials costs are $80,000. Equivalent units are 20,000. How much is the total manufacturing cost per unit?

The Molding Department of Boswell Company has the following production data: beginning work process 40,000 units (60% complete), started into production 730,000 units, completed and transferred out 690,000 units, and ending work in process 80,000 units (40% complete). Assuming conversion costs are incurred uniformly during the process, the equivalent units for conversion costs are:

In a process cost system, total costs are determined at the end of a month or year.

Materials costs of $600,000 and conversion costs of $642,600 were charged to a processing department in the month of September. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. There were no units in beginning work in process, 100,000 units were started into production in September, and there were 8,000 units in ending work in process that were 40% complete at the end of September. What was the total amount of manufacturing costs assigned to the 8,000 units in the ending work in process?

In a production cost report, which one of the following sections is not shown under Costs?

When finished goods are sold, the entry to record the cost of goods sold is a debit to Finished Goods Inventory and a credit to Cost of Goods Sold.

A department had the following information for the month: Total materials costs \ 300,000 Conversion cost per unit \ 3.00 Total manufacturing cost per unit \ 5.00 What are the equivalent units of production for materials?

A process with 1,600 units of beginning work in process, completed and transferred out 25,000 units during a period. There were 10,000 units in the ending work in process that were 50% complete as to conversion costs. Materials are added 80% at the beginning of the process and 20% when the units are 90% complete. How much is equivalent units of production for the period for material costs?

The total manufacturing cost per unit is used in costing the units completed and transferred during the period.

Which of the following is correct regarding cost systems? Job Order Process a. Work in process account several one for each process b. Work in process account one one c. Work in process account one one for each process d. Work in process account several one

For the Assembly Department, unit materials cost is $6 and unit conversion cost is $9. If there are 10,000 units in ending work in process 75% complete as to conversion costs, the costs to be assigned to the inventory are

Cinder Company had the following department information for the month: Total materials costs \ 60,000 Equivalent units of materials 10,000 Total conversion costs \ 90,000 Equivalent units of conversion costs 20,000 How much is the total manufacturing cost per unit?

Minor Company had the following department data: Physical Units Work in process, July 1 30,000 Completed and transferred out 165,000 Work in process, July 31 45,000 Materials are added at the beginning of the process. What is the total number of equivalent units for materials in July?

Which of the following is considered a difference between a job order cost and a process cost system?