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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: 3. The cost per equivalent unit for labor and overhead was closest to: 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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