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Chapter 28 - Process Cost Accounting
Chapter 28
Process Cost Accounting
1. In a process cost accounting system, the average unit cost of a product is determined by
dividing the total manufacturing cost incurred by the number of units placed in production
during the period.
2. To compute the unit cost of production for a year, the beginning inventory cost is added to
the current period manufacturing costs, and the total is divided by the equivalent units of
production.
28-6
16. To obtain meaningful unit costs in a process cost accounting system, the work
accomplished must be measured in ____________________ production units.
17. An ending work in process inventory of 500 units that are 40 percent complete is
equivalent to ____________________ units of production.
18. The data about costs, ___________________, and equivalent production is assembled in a
cost of production report.
28-11
31. During one month, 3,000 units of a product were completed and 800 units were 20 percent
complete and still in process. The equivalent production for the month is
32. The ending Work in Process inventory in the mixing department contains 300 units that
are 70% complete with respect to labor costs. How many equivalent units are in the ending
inventory?
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