# What is the total conversion costs for the month of

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Chapter 30 / Exercise 5
Welding: Principles and Applications
Jeffus Expert Verified
11) What is the total conversion costs for the month of July?A) \$1,700B) \$1,500C) \$1,300D) \$1,000Answer: Explanation: B) Total conversion cost = \$1,000 + \$500 = \$1,500
B
Diff: 2Objective: 3AACSB: Application of knowledge12) What is the cost of tungsten carbide that will be assigned to vases finished and transferred to the finishing department for the month of July?
D
Diff: 3Objective: 3AACSB: Application of knowledge11
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Chapter 30 / Exercise 5
Welding: Principles and Applications
Jeffus Expert Verified
13) Which of the following statements is true of conversion costs?
ADiff: 2Objective: 3AACSB: Analytical thinking14) Underestimating the degree of completion of ending work in process leads to increase in operating income.
Diff: 2Objective: 3AACSB: Analytical thinking15) The last step in a process-costing system is to compute cost per equivalent unit.
Diff: 2Objective: 3AACSB: Analytical thinking16) The equivalent unit concept is a means by which a process costing system can comparepartially completed work done in each of the various process categories to obtain a total measure of work done.
Diff: 2Objective: 3AACSB: Analytical thinking17) The accuracy of the completion estimate of conversion costs depends on the care, skill, and experience of the estimator and also the nature of the conversion process.
Diff: 2Objective: 3AACSB: Analytical thinking18) In a process-costing system, there is always a separate Work-in-Process account for each different process.
Diff: 2Objective: 3AACSB: Analytical thinking19) A production cost worksheet is used to summarize total costs to account for, compute cost per equivalent unit, and assign total costs to units completed and to units in ending work-in-process.
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ending work-in-process.
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