Accounting 2302 - Chapter 3 Review
In a process cost system, the cost of completed production in Department A is transferred to Department B by which of the following
A) Debit Work in Process--Dept. B; credit Work in Process--Dept. A.
B) Debit Work in Process--Dept. B; credit Finished Goods--Dept. A.
C) Debit Work in Process--Dept. B; credit Cost of Goods Sold--Dept. A.
D) Debit Finished Goods; credit Work in Process--Dept. B.
In the manufacture of 10,000 units of a product, direct materials cost incurred was $165,000, direct labor cost incurred was $95,000, and
applied factory overhead was $53,500. What is the total conversion cost?
Department R had 5,000 units in work in process that were 75% completed as to labor and overhead at the beginning of the period, 30,000
units of direct materials were added during the period, 32,000 units were completed during the period, and 3,000 units were 40% completed
as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The
first-in, first-out method
used to cost inventories. The number of equivalent units of production for conversion costs for the period was:
The portion of whole units that were completed with respect to either materials or conversion costs within a given accounting period is the
A) units started and completed.
B) equivalent units.
C) conversion costs.
D) ending work in process.
The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows:
April 1, work in process:
Materials cost, 3,000 units
Conversion costs, 3,000 units,
Materials added during April, 10,000 units
Conversion costs during April
Goods finished during April, 11,500 units
April 30 work in process, 1,500 units,
All direct materials are placed in process at the beginning of the process and the
method is used to cost inventories. The
materials cost per equivalent unit for April is:
The following production data were taken from the records of the Finishing Department for June:
Inventory in process, 6-1 ( 30% completed)
Completed units during June
Ending inventory (60% complete)
Determine the number of material equivalent units of production in the June 30 Finishing Department inventory, assuming that the
is used to cost inventories and materials were added at the beginning of the process.
A) 6,700 units
B) 74,000 units
C) 78,000 units