Multiple choice problems. Thank you! Cost Accounting 314 Alonzo...

Multiple choice problems. Thank you!

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Cost Accounting 316 Virgo Company completed 280,000 units of Product A and has 10,000 units which were 50% complete as to conversion cost. Direct materials, which were introduced the start of processing, cost P435,000 while conversion cost amounted to P 142,50 There were no beginning inventories. 24. The equivalent units as to conversion cost were a. 142,500 b. 280,000 C. 285,000 d. 290,000 A company produces plastic kitchenware and uses process costing system. Products go through three departments - Mixing, Molding, ad Packaging. During the month of August, the following information is made available for the Mixing Department Units started 160,000 Units completed and transferred 140,000 Units in process, end (25% complete) 20,000 Materials are added at two points in the process. Material A is added at the beginning of the process and Material B when the units are 50% completed. Conversion costs are incurred uniformly throughout the mixing process. 25. The equivalent production for Material A a. 140,000 b. 145,000 c. 150,000 d. 160,000

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Chapter 10 Process Costing 315 M Company has two producing departments - Departments A and B. Department A works on raw material XYZ and then transfers it to Department B . After Dept. B puts on its finishing touches, it transfers the product to Finished Goods Inventory. 21. If Dept. A had put 95,000 units into process, during the period and had ending work in process of 21,000 units, what is the number of units transferred to a. 104,000 finished goods inventory, if Dept. B's ending units in process are 12,000? b. 85,000 C. 74,000 d. 62,000 22.M Company adds direct materials at the beginning of the production process in Department A. If Department A's ending units in process are 60% complete as to conversion costs, what is Department A's equivalent units for materials? a. 80,000 b. 86,600 C . 95,000 d. 102,400 The following information for Dept. B of Kitkat Company for the month of May Received from Dept. A 600,000 units Completed and transferred to Dept C 500,000 units Additional information a. Ending work in process is 75% complete b. May's production costs total P2, 760,000 23. Dept B's unit cost of production for May 2019 is a. P 4.60 b. P 4.80 c. P 5.02 d. P 5.52

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Cost Accounting 314 Alonzo Manufacturing uses a process costing system to accumulate costs related to the production of "Supergrow" an industrial strength hair grower. Material costs and conversion costs for last quarter are provided below: Materials Conversion Costs P 281,650 P 348,705 Current cost for the quarter 262,000 258,300 Equivalent production All materials are added at the beginning of the production process. 17. If the number of bottles completed during the quarter is 255,200, what is the total cost that should be assigned to these bottles? a. P 618,860 b. P 629,922 c. P 629,200 d. P 638,000 18. The cost allocated to the bottles in process at the end of the month a. P 31,036 b. P 20,798 c. P 20,620 d. P 11,495 Materials are added at the start of the process of Calvin Company's Blending Department, the first stage of the production cycle. The following information is available for the month of July. Units started - 210,000, completed and transferred - 1 10,000, units in process, end - 70,000 (50% complete). Under Calvin's cost accounting system, the costs incurred on the lost units are absorbed by the remaining good units. 19. The equivalent units for materials a. 120,000 b. 145,000 c. 180,000 d. 210,000 20. The equivalent units for conversion costs a. 120,000 b. 145,000 C. 180,000 d. 210,000

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