56) The total cost of the ending work-in-process is

A) $403,200.

B) $241,920.

C) $333,792.

D) $342,720.

57) Under process costing, the method of handling beginning work-in-process inventory that is almost never used in practice is

A) weighted-average.


C) last-in, first-out.

D) specific identification.

Kirkpatrick Company uses a process-cost system with the FIFO method of accounting for beginning inventories. Materials are added at the beginning of the process, and conversion costs are incurred uniformly. Work-in-process at the beginning is assumed to be 40 percent complete and at the end to be 70 percent complete. Additional data follow:

Beginning WIP inventory

14,000 units

Units started

130,000 units

Units completed

116,000 units

Ending WIP inventory

28,000 units

Cost of direct materials added during period


Conversion costs incurred during period


Beginning WIP inventory:

Cost of direct materials

$   42,000

Conversion costs

$   33,000

58) The equivalent units for materials are

A) 130,000.

B) 144,000.

C) 116,000.

D) 135,600.

59) The equivalent units for conversion costs are

A) 130,000.

B) 144,000.

C) 116,000.

D) 135,600.

60) The unit cost for materials is

A) $1.62.

B) $1.47.

C) $1.17.

D) $1.30.

61) The unit cost for conversion costs is

A) $1.05.

B) $0.80.

C) $0.72.

D) $0.95.

62) The total cost of the units still in process is

A) $52,080.

B) $58,800.

C) $41,160.

D) $49,160.

63) The total cost of the units completed and transferred is

A) $295,920.

B) $306,840.

C) $289,200.

D) $298,840.

64) An accounting system that applies costs to products only when the production is complete is referred to as

A) operation costing.

B) process costing.

C) job-order costing.

D) backflush costing.

65) In backflush costing, the journal entry to record the costs of completed production would include a

A) debit to Conversion Costs.

B) credit to Accounts Payable.

C) debit to Finished Goods Inventory.


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