Question 1

During the month, 1,950 units of a product were completed and 900 units were two-thirds complete with respect to labor and are still in process. The total equivalent units of production for labor for the month is

Accepted Answer

A) 2,850 units. 
B) 2,550 units. 
C) 1,950 units. 
D) 2,250 units.

Question 2

During the month, 3,630 units of a product were completed and 1,800 units were two-thirds complete with respect to labor and are still in process. The total equivalent units of production for labor for the month is

Accepted Answer

A) 4,830 units. 
B) 3,630 units. 
C) 5,430 units. 
D) 4,230 units.

Question 3

Match between columns
                        Premises: Costs of units transferred out plus the cost of the ending work in process units
Summarizes total costs to be accounted for and total costs accounted for
All manufacturing costs not classified as direct materials or direct labor
The units completed but not yet sold
Cumulative cost total
Estimated number of units that could have been started and completed with the same effort and costs incurred in the department during the same time period
The total of the number of units sold times the average cost for each
Summarizes total units to be accounted for and total units accounted for
All departmental manufacturing costs divided by the production for the period
Units begun but not yet completed

Accepted Answer

The Answer of costs to be accounted for and unit is...

Question 4

As percentage of completion is difficult to evaluate for manufacturing overhead costs, the percentage complete is ignored and considered immaterial.

Accepted Answer

A) True 
 B)False

Question 5

When the----------- method is used to calculate unit costs, the beginning inventory costs areadded to the current period costs, and the sum is divided by the equivalent units of production.

Accepted Answer

The answer of When the----------- method is used to calculate...

Question 6

When finished goods are sold, the entry to record the cost of goods sold includes a----------- to the Cost of Goods Sold account.

Accepted Answer

The answer of When finished goods are sold, the entry...

Question 7

Simon Productions Company had a beginning work in process inventory totaling $7,200. During the current period, the company added materials costs of $15,680, labor cost of $13,500 and overhead of $20,100. Equivalent production was 12,000 units, and 9,000 units were completed and transferred to the finished goods inventory. Inventory costs would be determined using a unit cost (rounded to two decimal places)of

Accepted Answer

A) $18.83. 
B) $6.28. 
C) $4.11. 
D) $4.71.

Question 8

The total accounted for consists of

Accepted Answer

A) the units started in production. 
B) the units started and the units transferred out. 
C) the units transferred out and the units in ending work in process. 
D) the units transferred out and the units completed.

Question 9

In the process cost accounting system, the -----------of the ending work in process is estimated.

Accepted Answer

The answer of In the process cost accounting system, the...

Question 10

The ending Work in Process inventory in the mixing department contains 650 units that are 58% complete with respect to labor costs. How many equivalent units are in the ending inventory?

Accepted Answer

A) 377 units. 
B) 650 units. 
C) 273 units. 
D) 560 units.

Question 11

After closing the Manufacturing Overhead Applied account to Manufacturing Overhead it is determined that overhead has been underapplied. As a result, the Manufacturing Overhead account before closing will have a -----------balance.

Accepted Answer

The answer of After closing the Manufacturing Overhead Applied account...

Question 12

The ending work in process inventory does not appear on the following month's cost of production report.

Accepted Answer

A) True 
 B)False

Question 13

The method that combines the cost of beginning inventory and the current costs of the period is the

Accepted Answer

A) market value process costing method. 
B) method of net realizable value. 
C) average method of process costing. 
D) replacement cost method.

Question 14

Jocose Company recorded the following journal entries. Write a description for each numbered journal entry. Number your descriptions to match the journal entry numbers.

Accepted Answer

The answer of Jocose Company recorded the following journal entries....

Question 15

Equivalent units of production must be calculated separately for materials, labor, and-----------whenever the percentages of completion for the elements are different.

Accepted Answer

The answer of Equivalent units of production must be calculated...

Question 16

Explain the flow of production in a manufacturing environment for production as the products are started and moved through the production process and eventually sold. Include the account titles.

Accepted Answer

The answer of Explain the flow of production in a...

Question 17

Kobold Company manufactures lamps. In May, Department B started 4,500 units. None had been transferred in from a prior department. Of the 4,500 units started, 4,250 were transferred out
-3,850 to the next department, Department C, and 400 were transferred to Finished Goods. All the materials issued during May were used in production while only 70% of the labor and overhead was added to the ending inventory. Calculate the equivalent units for material and for the labor and manufacturing overhead.

Accepted Answer

The answer of Kobold Company manufactures lamps. In May, Department...

Question 18

The entry to transfer costs from Department A to Department B is recorded as

Accepted Answer

A) a debit to Finished Goods Inventory and a credit to Work in Process-Dept. A. 
B) a debit to Work in Process-Dept. B and a credit to Work in Process-Dept. A. 
C) a debit to Work in Process-Dept. A and a credit to Work in Process-Dept. B. 
D) a debit to Work in Process-Dept. A and a credit to Finished Goods Inventory.

Question 19

The activity for Noah Company's mixing department for August is given below. All material is add at the beginning of the process.
S1U1B1Units S1U1B0Labor &

S1U1B1Material S1U1B0Labor & Overhead %

-
Compute the cost of Noah's completed units.

Accepted Answer

A) $48,000. 
B) $240,000. 
C) $576,000. 
D) $675,000.

Question 20

The Completion Department transferred 6,900 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 1,200 units were still in process at the end of the month which were 55% complete. Inventory unit cost at the end of the month were
$3)50. What were total production costs for the month?

Accepted Answer

A) $28,350. 
B) $24,150. 
C) $17,483. 
D) $26,460.

Exam 28: Process Cost Accounting

During the month, 1,950 units of a product were completed and 900 units were two-thirds complete with respect to labor and are still in process. The total equivalent units of production for labor for the month is

During the month, 3,630 units of a product were completed and 1,800 units were two-thirds complete with respect to labor and are still in process. The total equivalent units of production for labor for the month is

Match the following definitions to the term that they relate to.

As percentage of completion is difficult to evaluate for manufacturing overhead costs, the percentage complete is ignored and considered immaterial.

When the----------- method is used to calculate unit costs, the beginning inventory costs areadded to the current period costs, and the sum is divided by the equivalent units of production.

When finished goods are sold, the entry to record the cost of goods sold includes a----------- to the Cost of Goods Sold account.

The total accounted for consists of

In the process cost accounting system, the -----------of the ending work in process is estimated.

The ending Work in Process inventory in the mixing department contains 650 units that are 58% complete with respect to labor costs. How many equivalent units are in the ending inventory?

After closing the Manufacturing Overhead Applied account to Manufacturing Overhead it is determined that overhead has been underapplied. As a result, the Manufacturing Overhead account before closing will have a -----------balance.

The ending work in process inventory does not appear on the following month's cost of production report.

The method that combines the cost of beginning inventory and the current costs of the period is the

Jocose Company recorded the following journal entries. Write a description for each numbered journal entry. Number your descriptions to match the journal entry numbers.

Equivalent units of production must be calculated separately for materials, labor, and-----------whenever the percentages of completion for the elements are different.

Explain the flow of production in a manufacturing environment for production as the products are started and moved through the production process and eventually sold. Include the account titles.

The entry to transfer costs from Department A to Department B is recorded as

The activity for Noah Company's mixing department for August is given below. All material is add at the beginning of the process. _UnitsLabor & _MaterialLabor & Overhead % - Compute the cost of Noah's completed units.

Exam 28: Process Cost Accounting

During the month, 1,950 units of a product were completed and 900 units were two-thirds complete with respect to labor and are still in process. The total equivalent units of production for labor for the month is

During the month, 3,630 units of a product were completed and 1,800 units were two-thirds complete with respect to labor and are still in process. The total equivalent units of production for labor for the month is

Match the following definitions to the term that they relate to.

As percentage of completion is difficult to evaluate for manufacturing overhead costs, the percentage complete is ignored and considered immaterial.

When the----------- method is used to calculate unit costs, the beginning inventory costs areadded to the current period costs, and the sum is divided by the equivalent units of production.

When finished goods are sold, the entry to record the cost of goods sold includes a----------- to the Cost of Goods Sold account.

The total accounted for consists of

In the process cost accounting system, the -----------of the ending work in process is estimated.

The ending Work in Process inventory in the mixing department contains 650 units that are 58% complete with respect to labor costs. How many equivalent units are in the ending inventory?

After closing the Manufacturing Overhead Applied account to Manufacturing Overhead it is determined that overhead has been underapplied. As a result, the Manufacturing Overhead account before closing will have a -----------balance.

The ending work in process inventory does not appear on the following month's cost of production report.

The method that combines the cost of beginning inventory and the current costs of the period is the

Jocose Company recorded the following journal entries. Write a description for each numbered journal entry. Number your descriptions to match the journal entry numbers.

Equivalent units of production must be calculated separately for materials, labor, and-----------whenever the percentages of completion for the elements are different.

Explain the flow of production in a manufacturing environment for production as the products are started and moved through the production process and eventually sold. Include the account titles.

The entry to transfer costs from Department A to Department B is recorded as

The activity for Noah Company's mixing department for August is given below. All material is add at the beginning of the process. Units Labor & Material Labor & Overhead % - Compute the cost of Noah's completed units.

The activity for Noah Company's mixing department for August is given below. All material is add at the beginning of the process. _UnitsLabor & _MaterialLabor & Overhead % - Compute the cost of Noah's completed units.