24 the parts of the process cost summary include

This preview shows page 2 - 3 out of 3 pages.

24. The parts of the process cost summary include: (Check all that apply.)
25. The journal entry to record the use of direct materials in process costing is to:
26. A company completes 21,000 units this month and has ending goods in process inventory of 3,000 units which are estimated to be 40% complete. Direct materials cost per EUP is $5.00 and Conversion cost per EUP is $1.50. The cost transferred to Finished Goods Inventory is $ _____.
27. The journal entry to record the purchase of materials on account in process cost accounting is:
28. The journal entry to record the use of direct labor in process costing is to:
29. The journal entry to record the use of direct materials in process costing is a(n):
30. Department C had direct materials EUP cost of $4.00 and conversion EUP cost of $2.50. If the department had 38,000 units completed and transferred to the next department, their cost of units completed for direct materials is $ _____.
31. The journal entry to record the use of indirect labor in process costing is to:
32. The journal entry to record direct labor used in process costing is a(n):
33. The journal entry to record the payment of production labor in process costing is a(n):
34. Department A completed and transferred to finished goods a total of 60,000 units. Their ending inventory consisted of 40,000 units which were 80% complete with respect to direct materials and 30% complete with respect to conversion cost. The cost per EUP for direct materials is $4.00 and for conversion is $3.50. The cost of ending work in process inventory is $ _____.
35. The journal entry to record the insurance on the factory equipment is to:
36. True or false: A production department in a process operation has a manager that works for two departments.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture