Exam 3: Process Costing

The Nichols Company uses the weighted-average method in its process costing system.The company recorded 29,500 equivalent units for conversion costs for November in a particular department.There were 6,000 units in the ending work in process inventory on November 30,75% complete with respect to conversion costs.The November 1 work in process inventory consisted of 8,000 units,50% complete with respect to conversion costs.A total of 25,000 units were completed and transferred out of the department during the month.The number of units started during November in the department was:

Equivalent units for a process costing system using the weighted-average method would be equal to:

A process costing system:

Canler Inc.uses the weighted-average method in its process costing system.The following data concern the operations of the company's first processing department for a recent month. Required: Using the weighted-average method,determine the equivalent units of production for materials and conversion costs.

Which of the following characteristics applies to process costing,but does not apply to job order costing?

In August, one of the processing departments at Knepp Corporation had beginning work in process inventory of $17,000 and ending work in process inventory of $13,000. During the month, $178,000 of costs were added to production. -In the department's cost reconciliation report for August,the total cost to be accounted for would be:

Lothian 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:

Grosseiller 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 6,400 units were started and 5,200 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 65% 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:

Production and cost data for the month of February for Process A of the Packer manufacturing Company follow: The company uses the weighted-average cost method in its process costing system. Required: a.Calculate the equivalent units and cost per equivalent unit for February for materials and for conversion costs.(Carry calculations out to the nearest tenth of a cent. ) b.Determine the cost transferred to finished goods. c.Determine the amount of cost that should be assigned to the ending work in process.

Atwich Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: A total of 5,100 units were started and 4,400 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 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:

The following data were taken from the accounting records of the Hazel Corporation which uses the weighted-average method in its process costing system: The equivalent units for conversion costs was:

Garneau Corporation uses process costing.The following data pertain to its Assembly Department for February. Required: Determine the equivalent units of production for the Assembly Department for February using the weighted-average method.

The cost of beginning inventory under the weighted-average method is:

Heller 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:

Duhamel Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: A total of 7,800 units were started and 7,000 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 55% complete with respect to materials and 50% 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?

Fayard Corporation uses the weighted-average method in its process costing system.The Assembly Department started the month with 5,000 units in its beginning work in process inventory that were 70% complete with respect to conversion costs.An additional 67,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department.During the month 63,000 units were completed in the Assembly Department and transferred to the next processing department.There were 9,000 units in the ending work in process inventory of the Assembly Department that were 50% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Assembly Department for the month?

Atwich Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: A total of 5,100 units were started and 4,400 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 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?

Flitter Corporation uses the weighted-average method in its process costing.The following data pertain to its Materials Preparation Department for November. Required: Determine the equivalent units of production for the Materials Preparation Department for November using the weighted-average method.

Ok Corporation uses the weighted-average method in its process costing.The following data concern the company's Assembly Department for the month of June. During the month,7,100 units were completed and transferred from the Assembly Department to the next department. Required: Determine the cost of ending work in process inventory and the cost of units transferred out of the department during June using the weighted-average method.

Grosseiller 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 6,400 units were started and 5,200 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 65% 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 materials for the month in the first processing department?