Exam 3: The Accounting Information System

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 materials are entered at the beginning of the process, equivalent units for materials are:

A primary driver of overhead costs in continuous manufacturing operations is:

The Slicing 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 started into production in Department 1?

In order to compute the physical unit flow, a company must first compute unit production costs.

The following department data are available: Total materials costs \ 180,000 Equivalent units of materials 60,000 Total conversion costs \ 105,000 Equivalent units of conversion costs 30,000 What is the total manufacturing cost per unit?

In the Shaping Department of Rollins Company the unit materials cost is $5.00 and the unit conversion cost is $3.00.The department transferred out 40,000 units and had 5,000 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

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?

In a process cost system, product costs are summarized:

Which of these best reflects a distinguishing factor between a job order cost system and a process cost system?

Mayer Company has recently tried to improve its analysis for its manufacturing process.Units started into production equaled 18,000 and ending work in process equaled 1,200 units.Mayer had no beginning work in process inventory.Conversion costs are applied equally throughout production, and materials are applied at the beginning of the process.How much is the materials cost per unit if ending work in process was 25% complete and total materials costs equaled $72,000?

Holton Company has the following equivalent units for July: materials 20,000 and conversion 18,000.Production cost data are: Materials Conversion Work in process, July 1 \ 8,000 \ 3,750 Costs added in July 63,000 52,500 The unit production costs for July are: Materials Conversion Costs a. \ 3.15 \ 3.13 b. 3.55 2.92 c. 3.15 2.92 d. 3.55 3.13

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

When equivalent units of production are different for materials and conversion costs, unit costs are computed for materials, conversion, and total manufacturing.

A process began the month with 3,000 units in the beginning work in process inventory and ended the month with 2,000 units in the ending work in process.If 22,000 units were completed and transferred out of the process during the month, how many units were started into production during the month?

In Saint-Simon, Inc., the Assembly Department started 60,000 units and completed 70,000 units.If beginning work in process was 30,000 units, how many units are in ending work in process?

Hanker Company had the following department data on physical units: Work in process, beginning 3,000 Completed and transferred out 18,000 Work in process, ending 2,400 Materials are added at the beginning of the process.What is the total number of equivalent units for materials during the period?

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?

The FIFO method is conceptually superior to the weighted-average method.

The basic similarities between job order cost and process cost systems include all of the following except the

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?