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Question;61. Makridakis;Corporation uses the FIFO method in its process costing system. Operating data;for the Casting Department for the month of September appear below;Units Percent Complete with Respect to Conversion;Beginning;work in process inventory 17,000 10%;Transferred;in from the prior department during September 50,000;Ending;work in process inventory 17,000 40%;According;to the company's records, the conversion cost in beginning work in process;inventory was $3,434 at the beginning of September. Additional conversion costs;of $117,914 were incurred in the department during the month.;What;would be the cost per equivalent unit for conversion costs for September?;(Round off to three decimal places.);A) $2.020;B) $1.811;C) $2.140;D) $2.358;62. Krumbly Company uses the FIFO method;in its process costing system. At the beginning of the month, Department D's;work in process inventory contained 2,000 units. These units were fully;complete with respect to materials and 40% complete with respect to conversion;costs, with a total cost at that point of $3,600. During the month, conversion;costs amounted to $8 per equivalent unit. If all 2,000 units are fully complete;by the end of the month, their total cost by that time will be;A) $19,600;B) $10,000;C) $13,200;D) $9,000;63. Inka Corporation uses the FIFO method;in its process costing system. The first processing department, the Forming;Department, started the month with 13,000 units in its beginning work in;process inventory that were 20% complete with respect to conversion costs. The;conversion cost in this beginning work in process inventory was $4,160. An;additional 97,000 units were started into production during the month and;97,000 units were completed and transferred to the next processing department.;There were 13,000 units in the ending work in process inventory of the Forming;Department that were 30% complete with respect to conversion costs. A total of;$136,637 in conversion costs were incurred in the department during the month.;What;would be the cost per equivalent unit for conversion costs for the month?;(Round off to three decimal places.);A) $1.390;B) $1.600;C) $1.409;D) $1.280;64. Qvr Corporation uses the FIFO method;in its process costing system. Operating data for the Cutting Department for;the month of March appear below;Units Percent Complete with Respect to Conversion;Beginning;work in process inventory 2,500 60%;Transferred;in from the prior department during March 45,000;Completed;and transferred to the next department during March 40,500;Ending;work in process inventory 7,000 70%;According;to the company's records, the conversion cost in beginning work in process;inventory was $3,600 at the beginning of March. Additional conversion costs of;$99,477 were incurred in the department during the month.;What;would be the cost per equivalent unit for conversion costs for March? (Round;off to three decimal places.);A) $2.211;B) $2.400;C) $2.170;D) $2.266;65. Marston Company uses the FIFO method;in its process costing system. The equivalent units for March for conversion;costs totaled 37,500 units. The beginning work in process inventory in March;consisted of 15,000 units, 60% complete with respect to conversion costs. The;ending work in process inventory in March consisted of 10,000 units, 75%;complete with respect to conversion costs. The number of units started during;the month was;A) 41,500 units;B) 34,000 units;C) 25,000 units;D) 72,500 units;Catin;Company uses the FIFO method in its process costing system. The Assembly;Department started the month with 7,000 units in its beginning work in process;inventory that were 40% complete with respect to conversion costs. An;additional 60,000 units were transferred in from the prior department during;the month to begin processing in the Assembly Department. There were 19,000;units in the ending work in process inventory of the Assembly Department that;were 90% complete with respect to conversion costs.;What;were the equivalent units for conversion costs in the Assembly Department for;the month?;A) 48,000;B) 72,000;C) 62,300;D) 65,100;67. Kavadias Corporation uses the FIFO;method in its process costing system. Operating data for the Enameling Department;for the month of May appear below;Units Percent Complete with Respect to Conversion;Beginning;work in process inventory 7,400 80%;Transferred;in from the prior;department;during May 75,200;Ending;work in process inventory 3,000 90%;What;were the equivalent units for conversion costs in the Enameling Department for;May?;A) 79,600;B) 82,300;C) 76,380;D) 70,800;68. Kale Company uses the FIFO method in;its process costing system. At the beginning of March, the inventory in the;Blending Processing Center consisted of 3,000 units, 90% complete with respect;to conversion costs. At the end of the month, the inventory consisted of 2,000;units that were 60% complete with respect to conversion costs. If 10,000 units;were transferred to the next processing center during the period, the;equivalent units for conversion costs would be;A) 8,500 units;B) 11,500 units;C) 10,500 units;D) 9,500 units;69. Billings Company uses;the FIFO method in its process costing system. On July 1, Department A had;10,000 units in process that were 80% complete with respect to conversion. On;July 31 the department had 8,000 units in process that were 60% complete with;respect to conversion. The department transferred 40,000 units out during the;month, of which 10,000 units came from the beginning work in process inventory;and 30,000 units were started and completed during the month. All materials are;added at the beginning of the process in Department A. What are the equivalent;units for the month for materials and conversion, respectively?;A) 38,000 units, and 36,800 units;B) 38,000 units, and 38,000 units;C) 48,000 units, and 44,800 units;D) 48,000 units, and 48,000 units;70. Gadroy Corporation uses the FIFO;method in its process costing system. The Grinding Department started the month;with 13,000 units in its beginning work in process inventory that were 80%;complete with respect to conversion costs. An additional 52,000 units were;transferred in from the prior department during the month to begin processing;in the Grinding Department. During the month 55,000 units were completed in the;Grinding Department and transferred to the next processing department. There;were 10,000 units in the ending work in process inventory of the Grinding;Department that were 70% complete with respect to conversion costs.;What;were the equivalent units for conversion costs in the Grinding Department for;the month?;A) 62,000;B) 49,000;C) 55,000;D) 51,600;71. Outiniki Company uses the FIFO method;in its process costing system. Operating data for the Brazing Department for;the month of November appear below;Units Percent Complete with Respect to Conversion;Beginning;work in process inventory 3,400 30%;Transferred;in from the prior department during November 54,100;Completed;and transferred to the next department during November 52,600;Ending;work in process inventory 4,900 70%;What;were the equivalent units for conversion costs in the Brazing Department for;November?;A) 55,010;B) 55,600;C) 56,030;D) 52,600;72. Steven Company uses the FIFO method in;its process costing system. The following data were taken from the accounting;records of a particular department for last month;Beginning;work in process inventory: (10,000 units, materials 100% complete, conversion;60% complete) $17,500;Units;completed and transferred out during the month 60,000;units;Cost;per equivalent unit;Material $2.50;Conversion $2.00;The;cost of units transferred out of the department during the month is;A) $270,000;B) $242,500;C) $254,500;D) $250,500;73. Teboul Corporation uses the FIFO;method in its process costing system. Operating data for the Curing Department;for the month of March appear below;Units Percent Complete with Respect to Conversion;Beginning;work in process inventory 7,900 20%;Transferred;in from the prior department during March 40,000;Completed;and transferred to the next department during March 43,900;Ending;work in process inventory 4,000 60%;According;to the company's records, the conversion cost in beginning work in process;inventory was $11,850 at the beginning of March. The cost per equivalent unit;for conversion costs for March was $7.40.;How;much conversion cost would be assigned to the units completed and transferred out;of the department during March?;A) $325,018;B) $313,168;C) $296,000;D) $324,860;74. Koehl Corporation uses the direct;method to allocate service department costs to operating departments. The;company has two service departments, Administrative and Facilities, and two;operating departments, Assembly and Wholesaling.;Service;Department Operating;Department;Administrative Facilities Assembly Wholesaling;Departmental;costs $19,440 $71,340 $185,580 $392,950;Employee;hours 4,000 2,000 22,000 14,000;Space;occupied 3,000 1,000 39,000 2,000;Administrative;costs are allocated on the basis of employee hours and Facilities costs are;allocated on the basis of space occupied. The total Wholesaling Department cost;after the allocations of service department costs is closest to;A) $403,990;B) $396,430;C) $403,642;D) $402,601;75. Behrend Clinic uses the direct method;to allocate service department costs to operating departments. The clinic has;two service departments, Personnel and Support, and two operating departments;Prenatal and Pediatrics.;Service;Department Operating;Department;Personnel Support Prenatal Pediatrics;Departmental;costs $29,200 $55,040 $242,050 $423,200;Employee;hours 5,000 1,000 26,000 14,000;Space;occupied 3,000 2,000 35,000 8,000;Personnel;Department costs are allocated on the basis of employee hours and Support;Department costs are allocated on the basis of space occupied in square feet.;The total Pediatrics Department cost after the allocations of service;department costs is closest to;A) $441,260;B) $443,660;C) $433,440;D) $444,471;76. Stoltz Corporation uses the direct;method to allocate service department costs to operating departments. The;company has two service departments, Data Processing and Personnel, and two;operating departments, Assembly and Finishing.;Service;Department Operating;Department;Data;Processing Personnel Assembly Finishing;Departmental;costs $26,488 $18,630 $188,980 $506,980;Computer;workstations 37 12 45 41;Employees 35 11 46 35;Data;Processing Department costs are allocated on the basis of computer workstations;and Personnel Department costs are allocated on the basis of employees. The;total amount of Data Processing Department cost allocated to the two operating;departments is closest to;A) $23,245;B) $26,488;C) $61,567;D) $16,874;77. The direct method is used by Marrero;Publishing, Inc., to allocate service department costs to operating;departments. The company has two service departments, Information Technology;and Personnel, and two operating departments, Prepress and Printing.;Service;Department Operating;Department;Information;Technology Personnel Prepress Printing;Departmental;costs $27,412 $27,008 $376,940 $530,110;Computer;workstations 28 19 51 38;Employees 27 14 98 30;Information;Technology Department costs are allocated on the basis of computer workstations;and Personnel Department costs are allocated on the basis of employees. The;total Prepress Department cost after service department allocations is closest;to;A) $406,961;B) $413,326;C) $402,881;D) $410,563;78. Kolinski Surgical Hospital uses the;direct method to allocate service department costs to operating departments.;The hospital has two service departments, Telecommunications and;Administration, and two operating departments, Surgery and Recovery.;Service;Department Operating;Department;Telecomm-unications Adminis-tration Surgery Recovery;Departmental;costs $26,344 $27,472 $282,750 $599,690;Telecommunications;ports 31 14 40 34;Employees 30 11 74 27;Telecommunications;Department costs are allocated on the basis of the number of telecommunications;ports in departments and Administration Department costs are allocated on the;basis of employees. The total Surgery Department cost after service department;allocations is closest to;A) $317,118;B) $314,853;C) $310,244;D) $305,921;1;79. Dainels Corporation uses the step-down;method to allocate service department costs to operating departments. The;company has two service departments, General Management and Physical Plant, and;two operating departments, Sales and After-Sales. Data concerning those;departments follow;Service;Department Operating;Department;General;Management Physical Plant Sales After-Sales;Departmental;costs $36,550 $70,300 $412,500 $492,780;Employee;time 5,000 2,000 27,000 14,000;Space;occupied 1,000 1,000 38,000 7,000;General;Management Department costs are allocated first on the basis of employee time;and Physical Plant Department costs are allocated second on the basis of space;occupied. The total After-Sales Department cost after allocations is closest;to;A) $516,196;B) $515,880;C) $503,980;D) $513,911;80. Cervetti;Inc., allocates service department costs to operating departments using the;step-down method. The company has two service departments, Administration and;Physical Plant, and two operating departments, Assembly and Testing. Data;concerning those departments follow;Service;Department Operating;Department;Administration Physical Plant Assembly Testing;Departmental;costs $26,220 $78,860 $127,160 $737,860;Employee;time 4,000 1,000 25,000 12,000;Space;occupied 9,000 1,000 37,000 6,000;Administration;Department costs are allocated first on the basis of employee time and Physical;Plant Department costs are allocated second on the basis of space occupied. The;total Testing Department cost after allocations is closest to;A) $754,279;B) $757,240;C) $748,960

 

Paper#40565 | Written in 18-Jul-2015

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