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Question;Use the following to answer questions 125-126;Kumari Corporation uses the weighted-average method in its;process costing system. Data concerning the first processing department for the;most recent month are listed below;Beginning;work in process inventory;Units;in beginning work in process inventory 200;Materials;costs $2,900;Conversion;costs $6,400;Percent;complete with respect to materials 85%;Percent;complete with respect to conversion 70%;Units;started into production during the month 7,800;Units;transferred to the next department during the month 7,400;Materials;costs added during the month $128,000;Conversion;costs added during the month $332,600;Ending;work in process inventory;Units;in ending work in process inventory 600;Percent;complete with respect to materials 60%;Percent;complete with respect to conversion 35%;Note: Your answers may differ from those offered below due;to rounding error. In all cases, select the answer that is the closest to the;answer you computed. To reduce rounding error, carry out all computations to at;least three decimal places.;125. The total cost transferred from the;first processing department to the next processing department during the month;is closest to;A) $491,328;B) $469,900;C) $460,600;D) $454,478;126. The cost of ending work in process;inventory in the first processing department according to the company's cost;system is closest to;A) $15,428;B) $36,850;C) $22,110;D) $12,897;Loxham Corporation uses the weighted-average method in its;process costing system. Data concerning the first processing department for the;most recent month are listed below;Beginning;work in process inventory;Units;in beginning work in process inventory 400;Materials;costs $6,900;Conversion;costs $2,500;Percent;complete with respect to materials 80%;Percent;complete with respect to conversion 15%;Units;started into production during the month 6,000;Units;transferred to the next department during the month 5,400;Materials;costs added during the month $112,500;Conversion;costs added during the month $210,300;Ending;work in process inventory;Units;in ending work in process inventory 1,000;Percent;complete with respect to materials 80%;Percent;complete with respect to conversion 30%;Note: Your answers may differ from those offered below due;to rounding error. In all cases, select the answer that is the closest to the;answer you computed. To reduce rounding error, carry out all computations to at;least three decimal places.;127. What are the equivalent units for;materials for the month in the first processing department?;A) 800;B) 6,400;C) 5,400;D) 6,200;128. The cost per equivalent unit for;conversion costs for the first department for the month is closest to;A) $39.20;B) $37.33;C) $33.25;D) $36.89;129. The cost of ending work in process;inventory in the first processing department according to the company's cost;system is closest to;A) $16,977;B) $56,591;C) $45,273;D) $26,606;Use the following to answer questions 130-132;Doz Corporation uses the weighted-average method in its;process costing system. This month, the beginning inventory in the first;processing department consisted of 600 units. The costs and percentage;completion of these units in beginning inventory were;Cost Percent Complete;Materials;costs $3,700 60%;Conversion;costs $11,900 45%;A total of 5,000 units were started and 4,200 units were;transferred to the second processing department during the month. The following;costs were incurred in the first processing department during the month;Materials;costs $39,000;Conversion;costs $166,100;The ending inventory was 75% complete with respect to;materials and 35% complete with respect to conversion costs.;Note: Your answers may differ from those offered below due;to rounding error. In all cases, select the answer that is the closest to the;answer you computed. To reduce rounding error, carry out all computations to at;least three decimal places.;130. How many units are in ending work in;process inventory in the first processing department at the end of the month?;A) 900;B) 800;C) 1,400;D) 4,400;131. What are;the equivalent units for conversion costs for the month in the first processing;department?;A) 5,600;B) 4,690;C) 4,200;D) 490;132. The cost;per equivalent unit for materials for the month in the first processing;department is closest to;A) $7.43;B) $6.96;C) $8.13;D) $7.63;Use the following to answer questions 133-134;L.A. Company uses the weighted-average method in its process;costing system. The following information for the assembly department was;obtained from the accounting records for September (all materials are added at;the beginning of the process);Number;of Units Labor and Overhead;Percent Complete;Work in;process inventory, Sept. 1 40,000 25%;Transferred;in during the month 100,000;Work in;process inventory, Sept. 30 20,000 50%;Transferred;In Materials Labor and Overhead;Beginning;work in process inventory $80,000 $37,600 $5,000;Cost;added during the month $251,000 $122,400 $66,500;133. The equivalent units for material for;the month are;A) 100,000 units;B) 120,000 units;C) 140,000 units;D) 160,000 units;134. The cost per equivalent unit for labor;and overhead for the month is;A) $0.50;B) $0.125;C) $0.52;D) $0.55;Use the following to answer questions 135-136;Iyer Corporation uses the weighted-average method in its;process costing system. Data concerning the first processing department for the;most recent month are listed below;Beginning;work in process inventory;Units;in beginning work in process inventory 800;Materials;costs $13,900;Conversion;costs $7,200;Percent;complete with respect to materials 85%;Percent;complete with respect to conversion 20%;Units;started into production during the month 7,200;Units;transferred to the next department during the month 6,100;Materials;costs added during the month $115,700;Conversion;costs added during the month $240,600;Ending;work in process inventory;Units;in ending work in process inventory 1,900;Percent;complete with respect to materials 75%;Percent;complete with respect to conversion 10%;Note: Your answers may differ from those offered below due;to rounding error. In all cases, select the answer that is the closest to the;answer you computed. To reduce rounding error, carry out all computations to at;least three decimal places.;135. What are the equivalent units for;conversion costs for the month in the first processing department?;A) 8,000;B) 6,290;C) 6,100;D) 190;136. The cost per equivalent unit for;materials for the month in the first processing department is closest to;A) $16.20;B) $17.22;C) $14.46;D) $15.38;Use the following to answer questions 137-138;Jones Corporation uses the weighted-average method in its;process costing system. Data concerning the first processing department for the;most recent month are listed below;Beginning;work in process inventory;Units;in beginning work in process inventory 500;Materials;costs $8,500;Conversion;costs $14,700;Percent;complete with respect to materials 85%;Percent;complete with respect to conversion 55%;Units;started into production during the month 5,300;Units;transferred to the next department during the month 4,400;Materials;costs added during the month $79,100;Conversion;costs added during the month $210,700;Ending;work in process inventory;Units;in ending work in process inventory 1,400;Percent;complete with respect to materials 50%;Percent;complete with respect to conversion 30%;Note: Your answers may differ from those offered below due;to rounding error. In all cases, select the answer that is the closest to the;answer you computed. To reduce rounding error, carry out all computations to at;least three decimal places.;137. The cost per equivalent unit for;materials for the month in the first processing department is closest to;A) $15.51;B) $13.64;C) $15.10;D) $17.18;138. The cost per equivalent unit for;conversion costs for the first department for the month is closest to;A) $43.71;B) $49.10;C) $46.76;D) $38.86;Use the following to answer questions 139-142;(Appendix 4A) The following data relate to the Mixing;Department of Dillard Company for a recent month;Units Percent Complete with Respect to Processing;Beginning;work in process inventory 10,000 65%;Units;started into production 50,000;Units;completed and transferred out 51,000;Ending;work in process inventory 9,000 30%;All materials are added at the beginning of the mixing;process.;139. Assuming that Dillard Company uses the;FIFO method, the equivalent units for materials would be;A) 47,200;B) 50,000;C) 51,000;D) 59,000;140. Assuming that Dillard Company uses the;FIFO method, the equivalent units for processing would be;A) 47,200;B) 50,200;C) 51,000;D) 60,000;141. Assuming that Dillard Company uses the;weighted-average method, the equivalent units for materials would be;A) 50,000;B) 51,000;C) 53,700;D) 60,000;142. Assuming that Dillard Company uses the;weighted-average method, the equivalent units for processing would be;A) 53,700;B) 51,000;C) 50,200;D) 47,200;143. The equivalent units for materials for;March, using the weighted-average method, would be;A) 66,000;B) 68,000;C) 70,250;D) 71,000;144. The equivalent units for labor and;overhead for March, using the weighted-average method, would be;A) 69,500;B) 68,000;C) 67,500;D) 71,000;145. The;equivalent units for materials for March using the FIFO method, would be;A) 68,000;B) 65,350;C) 71,000;D) 67,000;146. The equivalent units for labor and;overhead for March using the FIFO method, would be;A) 62,950;B) 65,050;C) 66,000;D) 67,050;Use the following to answer questions 147-148;Bronson Company has a process costing system and uses the;weighted-average method. The company had 6,000 units in work in process on;January 1 that were 60% complete with respect to conversion costs. During;January 20,000 units were completed. On January 31, 8,000 units remained in;work in process that were 40% complete with respect to conversion costs.;Materials are added at the beginning of the process.;147. The;equivalent units for January for conversion costs were;A) 19,600;B) 22,400;C) 23,200;D) 25,600;148. How many units were started into;production during January?;A) 18,000;B) 19,600;C) 20,000;D) 22,000;Use the following to answer questions 149-150;The following information relates to the Blending Department;of Kedakai Products Company for the month of May. Kedakai uses a;weighted-average process costing system.;Work in;process, beginning (May 1);Units;in process 30,000;Percent;complete with respect to materials 100%;Percent;complete with respect to conversion 10%;Units;completed and transferred out during May 290,000;Work in;process, ending (May 31);Units;in process 17,000;Percent;complete with respect to materials 100%;Percent;complete with respect to conversion 80%;149. What are the Blending Department's;equivalent units related to materials for May?;A) 260,000;B) 277,000;C) 290,000;D) 307,000;150. What are the Blending Department's;equivalent units related to conversion costs for May?;A) 266,400;B) 290,400;C) 293,400;D) 303,600

 

Paper#40567 | Written in 18-Jul-2015

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