Which of the following journal entries correctly

This preview shows page 6 - 10 out of 11 pages.

24) Which of the following journal entries correctly reflects the transfer of goods completed from theAssembly Department to the Testing Department?A)Work in Process - AssemblyXXXWork-in-process - TestingXXXB)Work in Process - TestingXXX
6
Work-in-process - AssemblyXXXC)Work in Process - AssemblyXXXFinished Goods - TestingXXXD)Finished Goods - TestingXXXWork-in-process - AssemblyXXXE)Finished Goods - TestingXXXWork-in-process - TestingXXX7
25) Beginning inventory contained 5,000 units of goods that were 40 percent complete as to direct material,and 50 percent complete as to conversion. What is the equivalent units completed for materials andconversion at the beginning of the year, respectively? Assume that both types of costs are incurred evenlythroughout the process. 5000*.4= 20005000*.5=2500
26) The final step of the accounting for processes with respect to process costing is to
Father Time Clock Shop manufactures clocks on an automated assembly line. It utilizes two costcategories: direct materials and conversion costs. Each product must pass through the AssemblyDepartment and the Testing Department. Direct materials are added at the beginning of production,while conversion costs are allocated evenly throughout production, and the company uses weighted-average costing.Data for the Assembly Department are:1000000/1050=952.38180000/1050=171.421123.8Work in process, beginning inventory250 unitsDirect materials (100% complete)Conversion costs (50% complete)Units started during June800 unitsWork in process, ending inventory150 unitsDirect materials (100% complete)Conversion costs (75% complete)Work in process, beginning inventoryDirect materials$180,000Conversion costs$270,000Direct materials costs added during June$1,000,000Conversion costs added during June$1,000,00027) What are the equivalent units for direct materials and conversion costs at Father Time Clock Shop,respectively?
8
B) 1,050 units; 1,012.5 unitsC) 1,050 units; 887.5 unitsD) 962 units; 990 unitsE) 990 units and 962 units28) What is the total amount debited to the work-in-process account during the month of June at FatherTime Clock Shop?A) $450,000B) $2,000,000C) $2,270,000D) $2,450,000E) $3,250,000
29) What is the direct materials cost per equivalent unit during June at Father Time Clock Shop?
30) What is the conversion cost per equivalent unit in June at Father Time Clock Shop?
9

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 11 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
NoProfessor
Tags
Cost Accounting, Assembly department, Father Time Clock Shop

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture