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Unformatted text preview: Time expired Your time has expired. The assessment has been automatically submitted. Regrade not available This content item's settings prohibit regrade on this item. Regrade not available This is a linked Assessment or Question. Only the owner has edit rights. Select regrade mode Choose a regrade mode Change points or correct answer Drop question Give full credit This regrade will affect all users who submitted this Assessment containing this question. Maximum number of choices allowed is {0}. Submitted by Fornalski, David (DFORNALSKI) on 2/27/2011 4:23:09 PM Points Awarded 90.00 Points Missed 10.00 Percentage 90.0% 1. Buklin Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were: The ending inventory was 75% complete with respect to materials and 15% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. Reference: 4-5 How many units are in ending work in process inventory in the first processing department at the end of the month? A) 1,600 B) 700 C) 7,300 D) 900 Feedback: AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Reporting LO: 2 Level: Easy Points Earned: 10.0/10.0 Correct Answer(s): A 2. The completion of goods is recorded as a decrease in the work in process inventory account when using: A) Item A B) Item B C) Item C D) Item D Feedback: AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Reporting LO: 1 Level: Easy Source: CPA, adapted Points Earned: 10.0/10.0 Correct Answer(s): B 3. Buklin Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were:...
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Quiz4 - Time expired Your time has expired. The assessment...

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