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PROCESS COST ACCOUNTING mcq homework

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Question;80. Reed Manufacturing has;recently tried to improve its analysis for its manufacturing process. Units;started into production equaled 6,000 and ending work in process equaled 400;units. Reed had no beginning work in process inventory. Conversion costs are;applied equally throughout production, and materials are applied at the;beginning of the process. How much is the materials cost per unit if ending;work in process was 25% complete and total materials costs equaled $60,000?;a. $10.00;b. $10.53;c. $37.50;d. $9.38;81. Conversion cost per unit;equals $6.00. Total materials costs are $40,000. Equivalent units are 20,000.;How much is the total manufacturing cost per unit?;a. $8.00;b. $6.00;c. $10.00;d. $2.00;82. Physical units are 40,000.;Total conversion costs are $197,500. There are 1,000 units in ending inventory;which are 50% complete as to conversion costs. How much are conversion costs;per unit?;a. $5.00;b. $4.93;c. $9.88;d. $4.82;Process Cost;Accounting 21 - 15;84. Madison Industries has;equivalent units of 2,000 for materials and for conversion costs. Total;manufacturing costs are $200,000. Total materials costs are $150,000. How much;is the conversion cost per unit?;a. $10.00;b. $25.00;c. $100.00;d. $20.00;85. Equivalent units for;materials total 15,000. There were 12,000 units completed and transferred out.;Equivalent units for conversion costs equals 13,500. How much are the physical;units for conversion costs if ending work in process is 50% complete?;a. 14,000;b. 15,000;c. 4,000;d. 12,000;86. If equivalent units are;6,000 for conversion costs and units transferred out equals 4,000, what stage;of completion should the ending work in process be for the 8,000 units;remaining?;a. 75%;b. 25%;c. 10%;d. 20%;Use the following;information for questions 87?88.;In the month of April, a;department had 500 units in the beginning work in process inventory that were;60% complete. These units had $20,000 of materials costs and $15,000 of;conversion costs. Materials are added at the beginning of the process and;conversion costs are added uniformly throughout the process. During April;10,000 units were completed and transferred to the finished goods inventory and;there were 2,000 units that were 25% complete in the ending work in process;inventory on April 30. During April, manufacturing costs charged to the;department were: Materials $460,000, Conversion costs $510,000.;87. The cost assigned to the;units transferred to finished goods during April was;a. $900,000.;b. $905,000.;c. $940,000.;d. $895,000.;88. The cost assigned to the;units in the ending work in process inventory on April 30 was;a. $180,000.;b. $105,000.;c. $80,000.;d. $145,000.;89. Zibba Company enters;materials at the beginning of the process. In January, there was no beginning;work in process, but there were 100 units in the ending work in process;inventory. The number of units completed equals the number of;a. units started.;b. units started less 100.;c. units started plus 100.;d. equivalent units.;21;- 16 Test Bank for Accounting;Principles, Eighth Edition;90. If there are no units in;process at the beginning of the period, then;a. the company must be using a;job order cost system.;b. only one computation of;equivalent units of production will be necessary.;c. the units started into;production will equal the number of units transferred out.;d. the units to be accounted;for will equal the units transferred out and the units in process at the end of;the period.;91. Which of the following is;not a necessary step in preparing a production cost report?;a. Compute the equivalent;units of production;b. Compute the physical unit;flow;c. Prepare the job order cost;sheet;d. Prepare a cost;reconciliation schedule;92. Honrad Company's Assembly;Department has materials cost at $4 per unit and conversion cost at $8 per;unit. There are 9,000 units in ending work in process, all of which are 70%;complete as to conversion costs. How much are total costs to be assigned to;inventory?;a. $50,400;b. $86,400;c. $75,600;d. $108,000;93. In a process cost system;units to be accounted for in a department are equal to the;a. number of units started or;transferred into the department.;b. number of units transferred;out of the department.;c.;units in the beginning inventory plus the;units started or transferred into the department.;d. ending inventory plus the;units started or transferred into the department.;94. The total units accounted;for equals units in;a. beginning work in process ?;units transferred out.;b. beginning work in process +;ending work in process.;c. ending work in process +;units transferred out.;d. ending work in process ?;units started into production.;Use the following;information for questions 95?96.;Department 1 of a two;department production process shows;Beginning Work in Process;Units;10,000;Ending Work in Process;50,000;Total units to be;accounted for;120,000;95. How many units were started;into production in Department 1?;a. 50,000;b. 70,000;c. 120,000;d. 110,000;96. How many units were;transferred out to Department 2?;a. 50,000;b. 70,000;c. 120,000;d. 110,000;Process Cost;Accounting 21 - 17;97. The Assembly Department;shows the following information;Beginning Work in Process;Units;20,000;Ending Work in Process;50,000;Units Transferred Out;90,000;How many total units are to be;accounted for by the Assembly Department?;a. 140,000;b. 50,000;c. 70,000;d. 120,000;98. The last department in a;production process shows the following information at the end of the period;Beginning Work in Process;Units;15,000;Started into Production;105,000;Ending Work in Process;30,000;How many units have been transferred;out to finished goods during the period?;a. 105,000;b. 120,000;c. 135,000;d. 90,000;99. A process began the month;with 3,000 units in the beginning work in process inventory and ended the month;with 2,000 units in the ending work in process. If 9,000 units were completed;and transferred out of the process during the month, how many units were;started into production during the month?;a. 8,000;b. 10,000;c. 9,000;d. 7,000;100. If 75,000 units are started;into production and 30,000 units are in process at the end of the period, how;many units were completed and transferred out?;a. 75,000;b. 30,000;c. 45,000;d. 105,000;101. Total units to be accounted;for less units in beginning work in process equals;a. total units accounted for.;b. units transferred out.;c. units started into;production.;d. equivalent units.;102. If 80,000 units are;transferred out of a department and there are 16,000 units still in process at;the end of a period, the number of units that were started into production;during the period is;a. 96,000.;b. 80,000.;c. 64,000.;d. 16,000.;21 - 18 Test Bank for Accounting Principles, Eighth;Edition;103. A department adds materials;at the beginning of the process and incurs conversion costs uniformly;throughout the process. For the month of July, there was no beginning work in;process, 20,000 units were completed and transferred out, and there were 10,000;units in the ending work in process that were 40% complete. During July;$72,000 materials costs and $63,000 conversion costs were charged to the;department.;The;unit production costs for materials and conversion costs for July was;Materials;Conversion Costs;a.;$2.40;$2.10;b.;$2.40;$2.63;c.;$3.00;$2.10;d.;$3.60;$3.15;104. Conversion cost per unit;equals $6.00. Total materials costs equal $60,000. Equivalent units for;materials are 20,000. How much is the total manufacturing cost per unit?;a. $9.00;b. $6.00;c. $12.00;d. $3.00;105. The following department;data are available;Total materials costs;$120,000;Equivalent units of;materials;60,000;Total;conversion costs;$70,000;Equivalent units of;conversion costs;30,000;What is the total manufacturing cost per;unit?;a. $2.00;b. $2.33;c. $4.33;d. $2.11;106. Byers Company had the;following department information for the month;Total materials costs;$30,000;Equivalent units of;materials;5,000;Total;conversion costs;$50,000;Equivalent units of;conversion costs;10,000;What is the total manufacturing cost;per unit?;a. $5.34;b. $5.00;c. $6.00;d. $11.00;107. Physical units are 80,000.;Total conversion costs are $197,500. There are 2,000 units in ending inventory;which are 50% complete as to conversion costs. How much is the conversion cost;per unit?;a. $2.50;b. $2.47;c. $2.44;d. $2.41;Process Cost;Accounting 21 - 19;108.;A;department had the following information for the month;Total materials costs;$120,000;Conversion cost per unit;$3.00;Total manufacturing cost;per unit;$5.00;What are the equivalent units of;production for materials?;a. 60,000;b. 40,000;c. 24,000;d. Cannot be determined;109. Maisley Manufacturing;decided to analyze certain costs for June of the current year. Units started;into production equaled 28,000 and ending work in process equaled 4,000. With;no beginning work in process inventory, how much is the conversion cost per;unit if ending work in process was 25% complete and total conversion costs;equaled $50,000?;a. $1.57;b. $6.25;c. $2.00;d. $1.00;Use the following;information for questions 110?111.;Materials costs of $400,000;and conversion costs of $510,000 were charged to a processing department in the;month of September. Materials are added at the beginning of the process, while;conversion costs are incurred uniformly throughout the process. There were no;units in beginning work in process, 20,000 units were started into production;in September, and there were 5,000 units in ending work in process that were;40% complete at the end of September.;110. What was the total amount;of manufacturing costs assigned to those units that were completed and;transferred out of the process in September?;a. $750,000;b. $1,000,000;c. $803,250;d. $682,500;111. What was the total amount;of manufacturing costs assigned to the 5,000 units in the ending work in;process?;a. $227,500;b. $250,000;c. $160,000;d. $100,000

 

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