Practice test Chap4

Practice test Chap4 - Practice Test Chapter 4 Acctg 203 1....

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Practice Test Chapter 4 Acctg 203 1. Stay Company uses the weighted-average method in its process costing system. The company's ending work in process inventory consists of 8,000 units, 60% complete with respect to materials and 80% complete with respect to labor and overhead. If the total cost in this inventory is $200,000 and if the cost for materials is $16 per equivalent unit for the period, the cost of labor and overhead per equivalent unit of the production for the period must be: A) $19.25. B) $16.00. C) $25.67. D) $31.25. Use the following to answer questions 2-3: Department J is the second of three sequential processes in a company that uses the weighted-average method in its process costing system. All materials are added at the beginning of processing in Department J. During September, Department J collected the following data: 2. The total cost assigned to units transferred out during September was: A) $340,144. B) $472,000. C) $382,594. D) $299,152. 3. The cost per equivalent unit for labor and overhead was closest to: A) $5.48. B) $7.56. C) $5.13. D) $6.50. Use the following to answer question 4: Zippy Company has a process costing system. Information about units processed and processing costs incurred during a recent month in the Refining Department follow: The beginning work in process inventory had $50,946 of processing cost attached to it at the beginning of the month. During the
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Practice test Chap4 - Practice Test Chapter 4 Acctg 203 1....

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