16) The system, which applies costs to like products that are usually mass-produced in continuous fashion through a series of production processes, is known as

A) process costing.

B) variable costing.

C) job-order costing.

D) JIT costing.

17) Which of the following is NOT an example of a product that would be manufactured in a process-costing system?

A) Flour

B) Glass

C) Toothpaste

D) A house

Bunn Company produces calendars in a one-department process.  The following information is available:

Work-in-process, beginning inventory

-0-

Units started

30,000

Units completed and transferred out

24,000

Work-in-process, ending inventory

6,000

Direct materials added

$60,000

Direct labour

$41,400

Factory overhead

$20,700

18) The units still in process are 100 percent complete with respect to direct materials and 60 percent complete with respect to conversion costs.

The total of costs to account for is

A) $122,100.

B) $60,000.

C) $41,400.

D) $20,700.

19) The equivalent units for materials are

A) 24,000.

B) 30,000.

C) 27,600.

D) 6,000.

20) The equivalent units for conversion costs are

A) 6,000.

B) 30,000.

C) 24,000.

D) 27,600.

The following information pertains to the mixing department of Carson Company for September 2006:

UNITS

Work-in-process, September 1

(80% complete, materials;

70% complete, labour and overhead)

10,000

Started during September

120,000

Work-in-process, September 30

(60% complete, materials;

40% complete, labour and overhead)

12,000

The costs of work-in-process at September 1 for the mixing department were as follows:

Work-in-process, September 1

Materials

$     60,000

Direct labour

40,000

Overhead

       25,000

Total

$   125,000

Costs added by the mixing department during September were as follows:

Materials

$   880,000

Direct labour

520,500

Overhead

     208,000

Total

$1,608,500

Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006.

21) The equivalent units of production for materials is

A) $118,000.

B) $125,200.

C) $130,000.

D) $142,000.

22) The unit cost for materials is

A) $5.69.

B) $7.07.

C) $7.23.

D) $7.51.

23) The equivalent units of production for conversion is

A) 112,000.

B) 118,000.

C) 122,800.

D) 130,000.

24) The unit cost for conversion costs is

A) $4.23.

B) $5.94.

C) $6.26.

D) $6.47.

25) Cost of goods transferred out is

A) $1,649,640.

B) $1,652,000.

C) $1,716,744.

D



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