Deck 4: Process Costing

Question 1

There are two methods that may be used to allocate costs between production departments in the manufacturing process for process costing systems-FIFO weighted-average and FIFO.

Answer 1

False

Question 2

A corporation uses the weighted-average costing method and completed 50,000 finished units during a period and had 16,000 units in ending inventory that were 35% complete; therefore the number of equivalent units was 55,600.

Answer 2

True

Question 3

Process costing is most likely used in which of the following companies?

A) Aircraft manufacturing
B) Building construction
C) Tax return preparers
D) Chemical processing

Answer 3

Chemical processing

Question 4

In a process costing system, the entry to record the use of direct materials in production would include which of the following?

A) Debit to finished goods inventory
B) Credit to finished goods inventory
C) Debit to work in process inventory
D) Debit to raw materials inventory

Question 5

Special Joe manufactures caffeinated water. Last month's total manufacturing costs were:
What was the conversion cost for Special Joe for last month?

A) $300,000
B) $800,000
C) $250,000
D) $500,000

Question 6

The Made Rite Shoe Corporation uses a process costing system. In the Cutting Department, there was no beginning inventory. 4,000 units were started during the period and by the end of the period, all but 400 units had been completed. The 400 units were 80% complete regarding materials and 40% complete regarding conversion costs. Costs added during the current period include $66,640 for materials and $70,312 for conversion.

-What was the number of equivalent units of production for direct materials, assuming the weighted-average method?

A) 3,540
B) 3,900
C) 3,760
D) 3,920

Question 7

The Made Rite Shoe Corporation uses a process costing system. In the Cutting Department, there was no beginning inventory. 4,000 units were started during the period and by the end of the period, all but 400 units had been completed. The 400 units were 80% complete regarding materials and 40% complete regarding conversion costs. Costs added during the current period include $66,640 for materials and $70,312 for conversion.

-What was the number of equivalent units of production for conversion costs, assuming the weighted-average method?

A) 3,700
B) 3,760
C) 3,920
D) 3,900

Question 8

The Made Rite Shoe Corporation uses a process costing system. In the Cutting Department, there was no beginning inventory. 4,000 units were started during the period and by the end of the period, all but 400 units had been completed. The 400 units were 80% complete regarding materials and 40% complete regarding conversion costs. Costs added during the current period include $66,640 for materials and $70,312 for conversion.

- What was the cost per equivalent unit of production for direct materials, assuming the weighted-average method?

A) $16.67
B) $18.51
C) $17.00
D) $18.11

Question 9

The Made Rite Shoe Corporation uses a process costing system. In the Cutting Department, there was no beginning inventory. 4,000 units were started during the period and by the end of the period, all but 400 units had been completed. The 400 units were 80% complete regarding materials and 40% complete regarding conversion costs. Costs added during the current period include $66,640 for materials and $70,312 for conversion.

-What was the cost per equivalent unit of production for conversion costs, assuming the weighted-average method?

A) $17.00
B) $18.70
C) $17.91
D) $16.91

Question 10

The Rugger Company uses a process costing system. During the period, 500 units were in beginning inventory,1,400 were started and 1,000 units were completed and transferred out. The beginning work in process was 20% complete and the ending work in process units were 60% complete. Materials are added at the beginning of the process and conversion costs are added evenly throughout production. Beginning WIP had $8,950 of materials costs and $860 of conversion costs. The cost of materials added during the current period amounted to $29,050; the conversion costs added during the current period amounted to $34,560.

- What were the equivalent units of production for materials, using the weighted-average method?

A) 1,900
B) 1,540
C) 1,400
D) 1,440

Question 11

The Rugger Company uses a process costing system. During the period, 500 units were in beginning inventory, 1,400 were started and 1,000 units were completed and transferred out. The beginning work in process was 20% complete and the ending work in process units were 60% complete. Materials are added at the beginning of the process and conversion costs are added evenly throughout production. Beginning WIP had $8,950 of materials costs and $860 of conversion costs. The cost of materials added during the current period amounted to $29,050; the conversion costs added during the current period amounted to $34,560.

-What were the equivalent units of production for conversion costs, using the weighted-average method?

A) 1,900
B) 1,540
C) 1,400
D) 1,440

Question 12

The Rugger Company uses a process costing system. During the period, 500 units were in beginning inventory, 1,400 were started and 1,000 units were completed and transferred out. The beginning work in process was 20% complete and the ending work in process units were 60% complete. Materials started at the beginning of the process and conversion costs are added evenly throughout production. Beginning WIP had $8,950 of materials costs and $860 of conversion costs.. The cost of materials added during the current period amounted to $29,050; the conversion costs added during the current period amounted to $34,560.

- What was the cost per equivalent unit of production for materials, using the weighted-average method?

A) $20.75
B) $24.00
C) $20.00
D) $23.00

Question 13

The Rugger Company uses a process costing system. During the period, 500 units were in beginning inventory, 1,400 were started and 1,000 units were completed and transferred out. The beginning work in process was 20% complete and the ending work in process units were 60% complete. Materials started at the beginning of the process and conversion costs are added evenly throughout production. Beginning WIP had $8,950 of materials costs and $860 of conversion costs.. The cost of materials added during the current period amounted to $29,050; the conversion costs added during the current period amounted to $34,560.

- What was the cost per equivalent unit of production for conversion costs, using the weighted- average method?

A) $20.75
B) $24.00
C) $20.00
D) $23.00

Question 14

The Blue Tide Company manufactures light bulbs in a single process. The following information is available:
Materials are added at the end of the process. The beginning work in process was 70% complete and had $2,250 of materials costs and $9,340 of conversion costs. The ending work in process was 40% complete.

- Assuming the weighted-average method was used, how much was the total manufacturing costs to account for?

A) $22,575
B) $72,400
C) $60,810
D) $52,475

Question 15

The Blue Tide Company manufactures light bulbs in a single process. The following information is available:
Materials are added at the end of the process. The beginning work in process was 70% complete and had $2,250 of materials costs and $9,340 of conversion costs. The ending work in process was 40% complete.

- Assuming the weighted-average method was used, what were the equivalent units of production for direct materials?

A) 9,000 units
B) 11,000 units
C) 9,600 units
D) 5,000 units

Question 16

The Blue Tide Company manufactures light bulbs in a single process. The following information is available:
Materials are added at the end of the process. The beginning work in process was 70% complete and had $2,250 of materials costs and $9,340 of conversion costs. The ending work in process was 40% complete.

- Assuming the weighted-average method was used, what were the equivalent units of production for conversion costs?

A) 9,000 units
B) 11,000 units
C) 9,600 units
D) 5,000 units

Question 17

The Blue Tide Company manufactures light bulbs in a single process. The following information is available:
Materials are added at the end of the process. The beginning work in process was 70% complete and had $2,250 of materials costs and $9,340 of conversion costs. The ending work in process was 40% complete.

-Assuming the weighted-average method was used, what was the cost per equivalent units of production for materials costs?

A) $2.35
B) $2.90
C) $4.25
D) $4.50

Question 18

The Blue Tide Company manufactures light bulbs in a single process. The following information is available:
Materials are added at the end of the process. The beginning work in process was 70% complete and had $2,250 of materials costs and $9,340 of conversion costs. The ending work in process was 40% complete.

- Assuming the weighted-average method was used, what was the cost per equivalent units of production for conversion costs?

A) $2.35
B) $2.90
C) $4.25
D) $4.50

Question 19

The Blue Tide Company manufactures light bulbs in a single process. The following information is available:
Materials are added at the end of the process. The beginning work in process was 70% complete and had $2,250 of materials costs and $9,340 of conversion costs. The ending work in process was 40% complete.

- Assuming the FIFO method was used, how much was the total manufacturing costs to account for?

A) $22,575
B) $72,400
C) $60,810
D) $52,475

Question 20

The USA Company manufactures flags in a single process. The following information has been provided by USA Company:
The beginning units still in process are 30% complete with respect to direct materials and 40% complete with respect to conversion costs and had $22,550 of materials costs and $108,725 of conversion costs. The ending units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs.

- Assuming the weighted-average method was used, what were the equivalent units of production for direct materials?

A) 19,700 units
B) 19,100 units
C) 18,200 units
D) 17,100 units

Question 21

The USA Company manufactures flags in a single process. The following information has been provided by USA Company:
The beginning units still in process are 30% complete with respect to direct materials and 40% complete with respect to conversion costs and had $22,550 of materials costs and $108,725 of conversion costs. The ending units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs.

- Assuming the weighted-average method was used, what were the equivalent units for production for conversion costs?

A) 19,700 units
B) 19,100 units
C) 18,200 units
D) 17,100 units

Question 22

The USA Company manufactures flags in a single process. The following information has been provided by USA Company:
The beginning units still in process are 30% complete with respect to direct materials and 40% complete with respect to conversion costs and had $22,550 of materials costs and $108,725 of conversion costs. The ending units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs.

- Assuming the weighted-average method was used, what was the cost per equivalent unit of production for direct materials?

A) $56.75
B) $56.50
C) $12.00
D) $11.75

Question 23

The USA Company manufactures flags in a single process. The following information has been provided by USA Company:
The beginning units still in process are 30% complete with respect to direct materials and 40% complete with respect to conversion costs and had $22,550 of materials costs and $108,725 of conversion costs. The ending units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs.

-Assuming the weighted-average method was used, what was the cost per equivalent unit of production for conversion costs?

A) $56.75
B) $56.50
C) $12.00
D) $11.75

Question 24

The USA Company manufactures flags in a single process. The following information has been provided by USA Company:
The beginning units still in process are 30% complete with respect to direct materials and 40% complete with respect to conversion costs and had $22,550 of materials costs and $108,725 of conversion costs. The ending units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs.

- Assuming the weighted-average method was used, what was the total cost of the units completed and transferred out?

A) $1,164,500
B) $1,164,650
C) $151,050
D) $150,900

Question 25

The USA Company manufactures flags in a single process. The following information has been provided by USA Company:
The beginning units still in process are 30% complete with respect to direct materials and 40% complete with respect to conversion costs and had $22,550 of materials costs and $108,725 of conversion costs. The ending units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs.

-Assuming the weighted-average method was used, what was the total cost of the ending work in process inventory?

A) $1,164,500
B) $1,164,650
C) $151,050
D) $150,900

Question 26

The Nesting Company manufactures birdhouses in a single manufacturing process. The following information has been provided by Nesting Company:
The beginning units still in process are 100% complete with respect to direct materials and 75% complete with respect to conversion costs and had $4,800 of materials costs and $4,275 of conversion costs. The ending work in process was 100% complete with respect to direct materials and 35% complete with respect to conversion costs.

-Assuming the weighted-average method was used, what were the equivalent units of production for direct materials?

A) 11,250 units
B) 14,000 units
C) 12,750 units
D) 16,000 units

Question 27

The Nesting Company manufactures birdhouses in a single manufacturing process. The following information has been provided by Nesting Company:
The beginning units still in process are 100% complete with respect to direct materials and 75% complete with respect to conversion costs and had $4,800 of materials costs and $4,275 of conversion costs. The ending work in process was 100% complete with respect to direct materials and 35% complete with respect to conversion costs.

-Assuming the weighted-average method was used, what were the equivalent units of production for conversion costs?

A) 11,250 units
B) 14,000 units
C) 12,750 units
D) 16,000 units

Question 28

The Nesting Company manufactures birdhouses in a single manufacturing process. The following information has been provided by Nesting Company:
The beginning units still in process are 100% complete with respect to direct materials and 75% complete with respect to conversion costs and had $4,800 of materials costs and $4,275 of conversion costs. The ending work in process was 100% complete with respect to direct materials and 35% complete with respect to conversion costs.

-Assuming the weighted-average method was used, what was the cost per equivalent unit of production for direct materials?

A) $2.80
B) $2.75
C) $2.10
D) $2.00

Question 29

The Nesting Company manufactures birdhouses in a single manufacturing process. The following information has been provided by Nesting Company:
The beginning units still in process are 100% complete with respect to direct materials and 75% complete with respect to conversion costs and had $4,800 of materials costs and $4,275 of conversion costs. The ending work in process was 100% complete with respect to direct materials and 35% complete with respect to conversion costs.

-Assuming the weighted-average method was used, what was the cost per equivalent unit of production for conversion costs?

A) $2.80
B) $2.75
C) $2.10
D) $2.00

Question 30

The Nesting Company manufactures birdhouses in a single manufacturing process. The following information has been provided by Nesting Company:
The beginning units still in process are 100% complete with respect to direct materials and 75% complete with respect to conversion costs and had $4,800 of materials costs and $4,275 of conversion costs. The ending work in process was 100% complete with respect to direct materials and 35% complete with respect to conversion costs.

- Assuming the weighted-average method was used, what was the total cost of the units completed and transferred out?

A) $17,425
B) $17,500
C) $53,350
D) $53,275

Question 31

The Nesting Company manufactures birdhouses in a single manufacturing process. The following information has been provided by Nesting Company:
The beginning units still in process are 100% complete with respect to direct materials and 75% complete with respect to conversion costs and had $4,800 of materials costs and $4,275 of conversion costs. The ending work in process was 100% complete with respect to direct materials and 35% complete with respect to conversion costs.

- Assuming the weighted-average method was used, what was the total cost of the ending work in process inventory?

A) $17,425
B) $17,500
C) $53,350
D) $53,275

Question 32

The Nesting Company manufactures birdhouses in a single manufacturing process. The following information has been provided by Nesting Company:
The beginning units still in process are 100% complete with respect to direct materials and 75% complete with respect to conversion costs and had $4,800 of materials costs and $4,275 of conversion costs. The ending work in process was 100% complete with respect to direct materials and 35% complete with respect to conversion costs.

-Assuming the weighted-average method was used, the journal entry to transfer costs to finished goods at the end of the period would include

A) Debit to Finished goods inventory of $53,350
B) Debit to Finished goods inventory of $17,425
C) Debit to Work in process of $53,350
D) Debit to Work in process of $4.85

Question 33

The Nesting Company manufactures birdhouses in a single manufacturing process. The following information has been provided by Nesting Company:
The beginning units still in process are 100% complete with respect to direct materials and 75% complete with respect to conversion costs and had $4,800 of materials costs and $4,275 of conversion costs. The ending work in process was 100% complete with respect to direct materials and 35% complete with respect to conversion costs.

- Assuming the weighted-average method was used, the Work in process account's balance on Dec. 31 would be:

A) Debit of $53,350
B) Debit of $17,425
C) Credit of $53,350
D) Credit of $17,425

Question 34

The Martin Rubber Company produces tires. The following information is available for Martin:
Beginning work in process inventory: 2,000 tires, 100% complete for direct materials, 60% complete for conversion costs, cost of direct materials = $57,100, cost of direct labor and manufacturing overhead allocated = $19,020
Current period activity: 15,100 tires started into production, 12,600 tires completed, cost of direct materials added = $302,000, cost of direct labor and manufacturing overhead allocated = $232,980
Ending work in process inventory: 4,500 units, 100% complete for direct materials, 40% complete for conversion costs

-
Assuming Martin uses the weighted-average method, what were the equivalent units of production for direct materials?

A) 14,400
B) 13,200
C) 15,100
D) 17,100

Question 35

The Martin Rubber Company produces tires. The following information is available for Martin:
Beginning work in process inventory: 2,000 tires, 100% complete for direct materials, 60% complete for conversion costs, cost of direct materials = $57,100, cost of direct labor and manufacturing overhead allocated = $19,020
Current period activity: 15,100 tires started into production, 12,600 tires completed, cost of direct materials added = $302,000, cost of direct labor and manufacturing overhead allocated = $232,980
Ending work in process inventory: 4,500 units, 100% complete for direct materials, 40% complete for conversion costs

-
Assuming Martin uses the weighted-average method, what were the equivalent units of production for conversion costs?

A) 14,400
B) 13,200
C) 15,100
D) 17,100

Question 36

The Martin Rubber Company produces tires. The following information is available for Martin:
Beginning work in process inventory: 2,000 tires, 100% complete for direct materials, 60% complete for conversion costs, cost of direct materials = $57,100, cost of direct labor and manufacturing overhead allocated = $19,020
Current period activity: 15,100 tires started into production ,12,600 tires completed, cost of direct materials added = $302,000 cost of direct labor and manufacturing overhead allocated = $232,980
Ending work in process inventory: 4,500 units, 100% complete for direct materials, 40% complete for conversion costs

-
Assuming Martin uses the weighted-average method, what was the direct materials cost per equivalent unit of production?

A) $21.00
B) $17.50
C) $17.65
D) $20.00

Question 37

The Martin Rubber Company produces tires. The following information is available for Martin:
Beginning work in process inventory: 2,000 tires, 100% complete for direct materials, 60% complete for conversion costs, cost of direct materials = $57,100, cost of direct labor and manufacturing overhead allocated = $19,020
Current period activity: 15,100 tires started into production ,12,600 tires completed, cost of direct materials added = $302,000, cost of direct labor and manufacturing overhead allocated = $232,980
Ending work in process inventory: 4,500 units, 100% complete for direct materials, 40% complete for conversion costs

-
Assuming Martin uses the weighted-average method, what was the conversion cost per equivalent unit of production?

A) $21.00
B) $17.50
C) $17.65
D) $20.00

Question 38

The Martin Rubber Company produces tires. The following information is available for Martin:
Beginning work in process inventory: 2,000 tires, 100% complete for direct materials, 60% complete for conversion costs, cost of direct materials = $57,100, cost of direct labor and manufacturing overhead allocated = $19,020
Current period activity: 15,100 tires started into production ,12,600 tires completed, cost of direct materials added = $302,000, cost of direct labor and manufacturing overhead allocated = $232,980
Ending work in process inventory: 4,500 units, 100% complete for direct materials, 40% complete for conversion costs

-
Assuming Martin uses the weighted-average method, what was the cost of goods completed and transferred out during the period?

A) $485,100
B) $489,330
C) $121,770
D) $126,000

Question 39

The Martin Rubber Company produces tires. The following information is available for Martin:
Beginning work in process inventory: 2,000 tires, 100% complete for direct materials, 60% complete for conversion costs, cost of direct materials = $57,100, cost of direct labor and manufacturing overhead allocated = $19,020
Current period activity: 15,100 tires started into production ,12,600 tires completed, cost of direct materials added = $302,000, cost of direct labor and manufacturing overhead allocated = $232,980
Ending work in process inventory: 4,500 units, 100% complete for direct materials, 40% complete for conversion costs

-
Assuming Martin uses the weighted-average method, what was the cost of work in process at the end of the period?

A) $485,100
B) $489,330
C) $121,770
D) $126,000

Question 40

Assume that 12,000 units, 60% complete were in the beginning work in process, 50,000 units were started during the period, 6,000 units, 30% complete were in the ending work in process. Direct materials are added at the beginning of the process and conversion costs are incurred evenly throughout the process.

- Assuming the company uses the weighted-average method, what are the equivalent units of production for direct materials?

A) 57,800
B) 50,000
C) 62,000
D) 50,600

Question 41

Assume that 12,000 units, 60% complete were in the beginning work in process, 50,000 units were started during the period, 6,000 units, 30% complete were in the ending work in process. Direct materials are added at the beginning of the process and conversion costs are incurred evenly throughout the process.

- Assuming the company uses the weighted-average method, what are the equivalent units of production for conversion costs?

A) 57,800
B) 50,000
C) 62,000
D) 50,600

Question 42

Forsyth Company produces calendars in a one-process department. Materials are introduced at the beginning of the process. Conversion is applied uniformly throughout the process. Data for the current period is as follows:


- Assuming Forsyth uses the weighted-average method, what were the equivalent units of production for direct materials?

A) 141,100
B) 132,100
C) 130,000
D) 152,500

Question 43

Forsyth Company produces calendars in a one-process department. Materials are introduced at the beginning of the process. Conversion is applied uniformly throughout the process. Data for the current period is as follows:


-Assuming Forsyth uses the weighted-average method, what were the equivalent units of production for conversion costs?

A) 141,100
B) 132,100
C) 130,000
D) 152,500

Question 44

Forsyth Company produces calendars in a one-process department. Materials are introduced at the beginning of the process. Conversion is applied uniformly throughout the process. Data for the current period is as follows:


- Assuming Forsyth uses the weighted-average method, what was the cost per equivalent unit produced for direct materials?

A) $2.34
B) $2.40
C) $3.16
D) $3.20

Question 45

Forsyth Company produces calendars in a one-process department. Materials are introduced at the beginning of the process. Conversion is applied uniformly throughout the process. Data for the current period is as follows:


- Assuming Forsyth uses the weighted-average method, what was the cost per equivalent unit of production cost for conversion costs?

A) $2.34
B) $2.40
C) $3.16
D) $3.20

Question 46

Forsyth Company produces calendars in a one-process department. Materials are introduced at the beginning of the process. Conversion is applied uniformly throughout the process. Data for the current period is as follows:


- Assuming Forsyth uses the weighted-average method, what is the total cost of the units transferred to finished goods?

A) $682,000
B) $120,726
C) $679,606
D) $123,120

Question 47

Forsyth Company produces calendars in a one-process department. Materials are introduced at the beginning of the process. Conversion is applied uniformly throughout the process. Data for the current period is as follows:


-Assuming Forsyth uses the weighted-average method, what is the total cost of the ending work in process inventory?

A) $682,000
B) $120,726
C) $679,606
D) $123,120

Question 48

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:


- Assuming BBC uses the weighted-average method, how many physical units did BBC have to account for during March?

A) 59,000
B) 52,000
C) 45,000
D) 42,000

Question 49

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:


-Assuming BBC uses the weighted-average method, what were the equivalent units of production for transferred in costs?

A) 46,500
B) 41,950
C) 45,000
D) 52,000

Question 50

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:


-Assuming BBC uses the weighted-average method, what were the equivalent units of production for direct materials?

A) 46,500
B) 41,950
C) 45,000
D) 52,000

Question 51

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:


-Assuming BBC uses the weighted-average method, what were the equivalent units of production for conversion costs?

A) 46,500
B) 41,950
C) 45,000
D) 52,000

Question 52

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:


- Assuming BBC uses the weighted-average method, what cost per equivalent unit for transferred in costs?

A) $14.00
B) $3.50
C) $3.45
D) $14.10

Question 53

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:


-Assuming BBC uses the weighted-average method, what cost per equivalent unit for direct materials costs?

A) $14.00
B) $3.50
C) $3.45
D) $14.10

Question 54

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:


- Assuming BBC uses the weighted-average method, what cost per equivalent unit for conversion costs?

A) $5.50
B) $3.50
C) $3.45
D) $5.45

Question 55

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:


-Assuming BBC uses the weighted-average method, what was the total cost of units transferred to finished goods inventory?

A) $963,175
B) $199,525
C) $963,900
D) $1,163,425

Question 56

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:


- Assuming BBC uses the weighted-average method, the entry to record the costs transferred in from the assembly department to the shaping department includes?

A) Debit to Finished goods inventory of $634,500
B) Debit to Work in process-shaping of $634,500
C) Credit to Work in process-shaping of $634,500
D) Credit to Materials inventory of $634,500

Question 57

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:


-Assuming BBC uses the weighted-average method, what was the total cost of ending work in process inventory?

A) $963,175
B) $199,525
C) $200,250
D) $1,163,425

Question 58

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:


-Assuming BBC uses the FIFO method, what was the total cost of ending work in process inventory?

A) $963,175
B) $199,525
C) $200,250
D) $1,163,425

Question 59

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:


- What was the total number of physical units to account for during April?

A) 59,000
B) 47,100
C) 45,000
D) 38,700

Question 60

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:


-What were the equivalent units of production for transferred in costs?

A) 59,000
B) 47,100
C) 45,000
D) 38,700

Question 61

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:


- What were the equivalent units of production for direct materials?

A) 59,000
B) 47,100
C) 45,000
D) 38,700

Question 62

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:


- What were the equivalent units of production for conversion costs?

A) 59,000
B) 47,100
C) 45,000
D) 38,700

Question 63

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:


- What was the cost per equivalent unit of production for transferred in costs?

A) $10.50
B) $3.05
C) $5.35
D) $10.60

Question 64

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:


- What was the cost per equivalent unit of production for direct materials costs?

A) $3.00
B) $3.05
C) $5.35
D) $5.50

Question 65

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:


-What was the cost per equivalent unit of production for conversion costs?

A) $3.00
B) $3.05
C) $5.35
D) $5.50

Question 66

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:


- What was the cost transferred from the Finishing department in April?

A) $257,635
B) $793,800
C) $792,185
D) $259,250

Question 67

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:


- What was the balance in the Work in process-Finishing department account at the end of April?

A) $257,635
B) $793,800
C) $792,185
D) $259,250

Question 68

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:


- Assuming Winter uses the weighted-average method, what was the number of equivalent units of production for direct materials?

A) 324,950
B) 350,000
C) 383,500
D) 348,400

Question 69

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:


- Assuming Winter uses the weighted-average method , what were the equivalent units of production for conversion costs?

A) 324,950
B) 350,000
C) 383,500
D) 348,400

Question 70

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:


-Assuming Winter uses the weighted-average method , what was the equivalent cost per unit of production for direct materials?

A) $2.75
B) $2.70
C) $2.25
D) $2.20

Question 71

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:


- Assuming Winter uses the weighted-average method , what was the equivalent cost per unit of production for conversion costs?

A) $2.75
B) $2.70
C) $2.25
D) $2.20

Question 72

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:


- Assuming Winter uses the weighted-average method , the entry to record the materials added during the period would include?

A) Debit to Materials inventory for $962,500
B) Credit to Materials inventory for $962,500
C) Debit to Materials inventory for $72,950
D) Credit to Materials inventory for $72,950

Question 73

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:


- Assuming Winter uses the weighted-average method , the entry to record the conversion costs added during the period would include?

A) Debit to Finished goods inventory for $714,890
B) Credit to Finished goods inventory for $714,890
C) Debit to Work in process for $714,890
D) Credit to Work in process for $714,890

Question 74

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:


- Assuming Winter uses the weighted-average method , what is the total cost of units transferred to finished goods inventory?

A) $1,608,750
B) $1,606,995
C) $212,355
D) $210,600

Question 75

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:


- Assuming Winter uses the weighted-average method , what is the total cost of the ending work in process inventory?

A) $1,608,750
B) $1,606,995
C) $212,355
D) $210,600

Question 76

The Rugger Company uses a process costing system. During the period, 500 units were in beginning inventory, 1,400 were started and 1,000 units were completed and transferred out. The beginning work in process was 20% complete and the ending work in process units were 60% complete. Materials are added at the beginning of the process and conversion costs are added evenly throughout production. Beginning WIP had $8,950 of materials costs and $860 of conversion costs. The cost of materials added during the current period amounted to $29,050; the conversion costs added during the current period amounted to $34,560. What were the equivalent units of production for materials, using the FIFO method?

A) 1,900
B) 1,540
C) 1,400
D) 1,440

Question 77

The Rugger Company uses a process costing system. During the period, 500 units were in beginning inventory, 1,400 were started and 1,000 units were completed and transferred out. The beginning work in process was 20% complete and the ending work in process units were 60% complete. Materials started at the beginning of the process and conversion costs are added evenly throughout production. Beginning WIP had $8,950 of materials costs and $860 of conversion costs. The cost of materials added during the current period amounted to $29,050; the conversion costs added during the current period amounted to $34,560.

-What were the equivalent units of production for conversion costs, using the FIFO method?

A) 1,900
B) 1,540
C) 1,400
D) 1,440

Question 78

The Rugger Company uses a process costing system. During the period, 500 units were in beginning inventory, 1,400 were started and 1,000 units were completed and transferred out. The beginning work in process was 20% complete and the ending work in process units were 60% complete. Materials started at the beginning of the process and conversion costs are added evenly throughout production. Beginning WIP had $8,950 of materials costs and $860 of conversion costs.. The cost of materials added during the current period amounted to $29,050; the conversion costs added during the current period amounted to $34,560.

-What was the cost per equivalent unit of production for materials, using the FIFO method?

A) $20.75
B) $24.00
C) $20.00
D) $23.00

Question 79

The Rugger Company uses a process costing system. During the period, 500 units were in beginning inventory, 1,400 were started and 1,000 units were completed and transferred out. The beginning work in process was 20% complete and the ending work in process units were 60% complete. Materials started at the beginning of the process and conversion costs are added evenly throughout production. Beginning WIP had $8,950 of materials costs and $860 of conversion costs.. The cost of materials added during the current period amounted to $29,050; the conversion costs added during the current period amounted to $34,560.

- What was the cost per equivalent unit of production for conversion costs, using the weighted- average method?

A) $20.75
B) $24.00
C) $20.00
D) $23.00

Question 80

The Blue Tide Company manufactures light bulbs in a single process. The following information is available:
Materials are added at the end of the process. The beginning work in process was 70% complete and had $2,250 of materials costs and $9,340 of conversion costs. The ending work in process was 40% complete.

- Assuming the FIFO method was used, what were the equivalent units of production for direct materials?

A) 9,000 units
B) 11,000 units
C) 9,600 units
D) 5,000 units