46) In a production-cost report, the total costs accounted for is equal to the cost of units completed and transferred plus the cost of

A) beginning work-in-process.

B) the units started and finished.

C) the units completed but still on hand.

D) ending work-in-process.

47) In process costing, the journal entry to record direct materials used would include a

A) credit to Direct-Materials Inventory.

B) debit to Cost of Goods Sold.

C) credit to Work-in-process?Department Name.

D) debit to Finished Goods.

48) In process costing, the journal entry to record direct labour would include a

A) debit to Accrued Payroll.

B) credit to Factory Overhead.

C) debit to Work-in-process?Department Name.

D) credit to Finished Goods.

49) In process costing, the journal entry to record factory overhead applied would include a

A) debit to Factory Overhead.

B) debit to Work-in-process?Department Name.

C) credit to Cost of Goods Sold.

D) credit to Finished Goods.

50) The weighted-average process-costing method adds the cost of all work done in the current period to the

A) work done in the preceding period on the current period’s beginning inventory of work-in-process.

B) the ending inventory of work-in-process.

C) all costs estimated to be incurred in the next department.

D) the work done in the preceding department on the current period’s ending inventory of work-in-process.

Fan Corporation manufactures snowboards. Material is introduced at the beginning of the process in the Assembly department. Conversion costs are applied uniformly throughout the process. The weighted-average method of product costing is used. Data for the Assembly department for the month of April, 20X1 follow:

Work-in-process, April 1.

Units

30,000 units

Direct materials (100 percent complete)

$136,000

Conversion costs ( 30 percent complete)

$  54,592

Units started in April

170,000 units

Units completed in April

164,000 units

Work-in-process, April 30

(100 percent complete as to materials and

60 percent complete as to conversion costs)

36,000 units

Direct materials added in April

$1,140,000

Conversion costs added in April

$   840,000

51) The equivalent units for materials are

A) 164,000.

B) 194,000.

C) 200,000.

D) 206,000.

52) The equivalent units for conversion costs are

A) 200,000.

B) 185,600.

C) 176,600.

D) 164,000.

53) The unit cost for materials is

A) $5.70.

B) $6.95.

C) $7.78.

D) $6.38.

54) The unit cost for conversion costs is

A) $4.53.

B) $5.45.

C) $5.07.

D) $4.82.

55) The total cost of goods transferred out of the Assembly department is

A) $2,170,592.

B) $1,836,800.

C) $1,904,000.

D



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