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Chapter 17 - Quiz

Chapter 17 - Quiz - Accounting 245 Cost Accounting Chapter...

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Accounting 245 – Cost Accounting Chapter 17 Quiz - 10 points Name: _______________________________________ 1)   Schmidt Corporation manufactures rotor blades on a highly automated assembly line. Its costing system uses  two cost categories, direct materials and conversion costs. Each product must pass through the Assembly  Department and the Testing Department. Direct materials are added at the beginning of the production  process. Conversion costs are allocated evenly throughout production. Schmidt uses  weighted     -   average       costing . Data for the Assembly Department for March 2008 are : Work in process, beginning inventory 600 units Direct materials (100% complete) Conversion costs (55% complete) Units started during March 1,400 units Work in process, ending inventory: 800 units Direct materials (100% complete) Conversion costs (25% complete) Costs for March 2008 : Work in process, beginning inventory:
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Chapter 17 - Quiz - Accounting 245 Cost Accounting Chapter...

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