Accounting Chapter 4 Chapter 4_version1 Miller Corporation manufactures a product for which materials are added at the beginning of the manufacturing process

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Student name:__________

1) Bayas Corporation uses process costing. A number of transactions that occurred in June

are listed below.

1.

(1) Raw materials that cost $40,500 are withdrawn from the storeroom for use in the Mixing

Department. All of these raw materials are classified as direct materials.

2.

(2) Direct labor costs of $16,800 are incurred, but not yet paid, in the Mixing Department.

3.

(3) Manufacturing overhead of $46,400 is applied in the Mixing Department using the

department’s predetermined overhead rate.

4.

(4) Units with a carrying cost of $88,300 finish processing in the Mixing Department and are

transferred to the Drying Department for further processing.

5.

(5) Units with a carrying cost of $112,000 finish processing in the Drying Department, the

final step in the production process, and are transferred to the finished goods warehouse.

6.

(6) Finished goods with a carrying cost of $98,900 are sold.

Required:

Prepare journal entries for each of the transactions listed above.

2) Mccabe Corporation uses the weighted-average method in its process costing. The

following data pertain to its Assembly Department for September.

Units Percent Complete

Materials Conversion

Work in process, September 1 2,400 55% 10%

Units started into production during September 9,800

Units completed during September and transferred to the next

department 8,900

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Work in process, September 30 3,300 75% 25%

Required:

Compute the equivalent units of production for both materials and conversion costs for the

Assembly Department for September using the weighted-average method.

3) Miller Corporation manufactures a product for which materials are added at the

beginning of the manufacturing process. A review of the company’s inventory and cost records

for the most recently completed year revealed the following information:

Units Materials Conversion

Work in process, January 1 (80% complete with respect to conversion

costs) 100,000 $100,000

$157,500

Units started into production 500,000

Costs added during the year $650,000 $997,500

Units completed during the year 450,000

The company uses the weighted-average cost method in its process costing system. The ending

inventory is 50% complete with respect to conversion costs.

Required:

a. Compute the equivalent units of production and the cost per equivalent units for materials

and for conversion costs.

b. Determine the cost transferred to finished goods.

c. Determine the amount of cost that should be assigned to the ending work in process

inventory.

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4) Whiston Corporation uses the weighted-average method in its process costing system.

The following data were taken from the records of the first processing department for a recent

month.

Work in process, beginning:

Units in process 40

Percent complete with respect to materials 60%

Percent complete with respect to conversion 50%

Costs in the beginning inventory:

Materials cost

$6,20

0

Conversion cost

$16,3

00

Units started into production during the month 190

Costs added to production during the month:

Materials cost

$42,3

90

Conversion cost

$136,

340

Work in process, ending:

Units in process 30

Percent complete with respect to materials 50%

Percent complete with respect to conversion 40%

Required:

a. How many units were transferred to the next department during the month?

b. What were the equivalent units of production for materials and for conversion costs for the

month?

c. What were the costs per equivalent unit of production for materials and for conversion costs

for the month?

d. What was the cost of the ending work in process inventory in the department at the end of

the month?

e. What was the cost of the units completed and transferred to the next department during the

month?

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5) Holling Incorporated uses the weighted-average method in its process costing. The

following data concern the company’s Mixing Department for the month of December.

Materials Conversion

Work in process, December 1 $8,430 $9,428

Cost added to production in the Mixing Department during December

$226,800 $284,532

Equivalent units of production for December 10,200 9,700

Required:

Compute the cost per equivalent unit for materials and conversion for the Mixing Department

in December. (Round your answers to 2 decimal places.)

6) Jahncke Incorporated uses the weighted-average method in its process costing. The

following data concern the company’s Assembly Department for the month of November.

Materials Conversion

Work in process, November 1 $5,600 $3,902

Cost added to production in the Assembly Department during November

$105,882 $280,010

Equivalent units of production for November 10,810 10,720

Required:

Compute the costs per equivalent unit for the Assembly Department for November. (Round

your answers to 2 decimal places.)

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7) Hutchcroft Corporation uses the weighted-average method in its process costing. The

following data concern the company’s Assembly Department for the month of June.

Materials Conversion

Cost per equivalent unit $33.80 $36.60

Equivalent units in ending work in process 1,580 700

During the month, 8,100 units were completed and transferred from the Assembly Department to

the next department. Required:

Determine the cost of ending work in process inventory and the cost of units transferred out of

the department during June using the weighted-average method. (Round your answers to 2

decimal places.)

8) In July, one of the processing departments at Junkin Corporation had beginning work in

process inventory of $27,000 and ending work in process inventory of $29,000. During the

month, $203,000 of costs were added to production and the cost of units transferred out from the

department was $201,000.

Required:

Construct a cost reconciliation report for the department for the month of July.

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9) Walker Enterprises, Incorporated, uses a job-order costing system and sets a

predetermined overhead rate at the beginning of each year based on estimated manufacturing

overhead costs and estimated direct labor-hours for the upcoming year.

Required:

If the company sets its prices to cover actual direct materials costs, actual direct labor costs,

and applied manufacturing overhead costs, will the company at least avoid a loss during the

year?

10) During August, the following transactions were recorded at Goyer Corporation. The

company uses process costing.

1. (1) Raw materials that cost $24,500 are withdrawn from the storeroom for use in the

Assembly Department. All of these raw materials are classified as direct materials.

2. (2) Direct labor costs of $29,000 are incurred, but not yet paid, in the Assembly

Department.

3. (3) Manufacturing overhead of $58,900 is applied in the Assembly Department using the

department’s predetermined overhead rate.

4. (4) Units with a carrying cost of $101,200 finish processing in the Assembly Department

and are transferred to the Painting Department for further processing.

5. (5) Units with a carrying cost of $106,100 finish processing in the Painting Department, the

final step in the production process, and are transferred to the finished goods warehouse.

6. (6) Finished goods with a carrying cost of $95,100 are sold.

Required:

Prepare journal entries for each of the transactions listed above.

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11) Bayas Corporation uses process costing. A number of transactions that occurred in June

are listed below.

1. (1) Raw materials that cost $39,800 are withdrawn from the storeroom for use in the Mixing

Department. All of these raw materials are classified as direct materials.

2. (2) Direct labor costs of $16,100 are incurred, but not yet paid, in the Mixing Department.

3. (3) Manufacturing overhead of $45,700 is applied in the Mixing Department using the

department’s predetermined overhead rate.

4. (4) Units with a carrying cost of $87,600 finish processing in the Mixing Department and

are transferred to the Drying Department for further processing.

5. (5) Units with a carrying cost of $111,300 finish processing in the Drying Department, the

final step in the production process, and are transferred to the finished goods warehouse.

6. (6) Finished goods with a carrying cost of $98,200 are sold.

Required:

Prepare journal entries for each of the transactions listed above.

12) Cadot Incorporated uses the weighted-average method in its process costing system. The

following data concern the operations of the company’s first processing department for a recent

month.

Work in process, beginning:

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Units in process 400

Percent complete with respect to materials 90%

Percent complete with respect to conversion 70%

Units started into production during the month 18,000

Work in process, ending:

Units in process 600

Percent complete with respect to materials 80%

Percent complete with respect to conversion 40%

Required:

Using the weighted-average method, determine the equivalent units of production for materials

and conversion costs.

13) Greenham Corporation uses the weighted-average method in its process costing. The

following data pertain to its Materials Preparation Department for November.

Units in process, November 1: materials 75% complete, conversion 60%

complete 400

Units started into production during November 6,800

Units completed and transferred to the next department 6,300

Units in process, November 30: materials 55% complete, conversion 10%

complete 900

Required:

Determine the equivalent units of production for the Materials Preparation Department for

November using the weighted-average method.

14) Poirrier Corporation uses process costing. The following data pertain to its Assembly

Department for February.

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Units in process, February 1: materials 75% complete, conversion 30%

complete 700

Units started into production during February 5,500

Units completed and transferred to the next department 4,600

Units in process, February 28: materials 85% complete, conversion 65%

complete 1,600

Required:

Determine the equivalent units of production for the Assembly Department for February using

the weighted-average method.

15) The following data have been provided by Cutts Corporation, which uses the weighted-

average method in its process costing. The data are for the company’s Shaping Department for

October.

Units Percent Complete

Materials Conversion

Work in process, October 1 300 50% 10%

Units started into production during October 5,200

Units completed during October and transferred to the next

department 4,800

Work in process, October 31 700 50% 40%

Required:

Compute the equivalent units of production for both materials and conversion costs for the

Shaping Department for October using the weighted-average method.

16) Mccabe Corporation uses the weighted-average method in its process costing. The

following data pertain to its Assembly Department for September.

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Units Percent Complete

Materials Conversion

Work in process, September 1 800 55% 10%

Units started into production during September 8,200

Units completed during September and transferred to the next

department 7,300

Work in process, September 30 1,700 75% 25%

Required:

Compute the equivalent units of production for both materials and conversion costs for the

Assembly Department for September using the weighted-average method.

17) Bachelet Incorporated uses the weighted-average method in its process costing system.

The following data concern the operations of the company’s first processing department for a

recent month.

Work in process, beginning:

Units in process 400

Percent complete with respect to materials 90%

Percent complete with respect to conversion 40%

Costs in the beginning inventory:

Materials cost $ 756

Conversion cost $ 4,448

Units started into production during the month 13,000

Units completed and transferred out 13,000

Costs added to production during the month:

Materials cost $ 29,949

Conversion cost $ 362,127

Work in process, ending:

Units in process 100

Percent complete with respect to materials 50%

Percent complete with respect to conversion 30%

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Required:

Using the weighted-average method:

a. Determine the equivalent units of production for materials and conversion costs.

b. Determine the cost per equivalent unit for materials and conversion costs.

c. Determine the cost of units transferred out of the department during the month.

d. Determine the cost of ending work in process inventory in the department.

18) Anders Incorporated uses the weighted-average method in its process costing system. The

following data concern the operations of the company’s first processing department for a recent

month.

Work in process, beginning:

Units in process 800

Percent complete with respect to materials 70%

Percent complete with respect to conversion 10%

Costs in the beginning inventory:

Materials cost $ 1,736

Conversion cost $ 2,288

Units started into production during the month 18,000

Units completed and transferred out 18,400

Costs added to production during the month:

Materials cost $ 59,908

Conversion cost $ 520,696

Work in process, ending:

Units in process 400

Percent complete with respect to materials 70%

Percent complete with respect to conversion 20%

Required:

a. Determine the equivalent units of production.

b. Determine the costs per equivalent unit.

c. Determine the cost of ending work in process inventory.

d. Determine the cost of the units transferred to the next department.

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19) Holling Incorporated uses the weighted-average method in its process costing. The

following data concern the company’s Mixing Department for the month of December.

Materials Conversion

Work in process, December 1 $ 7,530 $ 8,528

Cost added to production in the Mixing Department during December

$ 225,900 $ 283,632

Equivalent units of production for December 9,300 8,800

Required:

Compute the cost per equivalent unit for materials and conversion for the Mixing Department

in December.

20) Jahncke Incorporated uses the weighted-average method in its process costing. The

following data concern the company’s Assembly Department for the month of November.

Materials Conversion

Work in process, November 1 $ 3,600 $ 1,902

Cost added to production in the Assembly Department during November

$ 103,882 $ 278,010

Equivalent units of production for November 8,810 8,720

Required:

Compute the costs per equivalent unit for the Assembly Department for November.

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21) Lorona Incorporated has provided the following data concerning the Assembly

Department for the month of April. The company uses the weighted-average method in its

process costing.

Materials Conversion

Cost per equivalent unit $ 8.10 $ 28.50

Equivalent units in ending work in process 1,330 1,235

During the month, 7,400 units were completed and transferred from the Assembly Department to

the next department. Required:

Determine the cost of ending work in process inventory and the cost of units transferred out of

the department during April using the weighted-average method.

22) Hutchcroft Corporation uses the weighted-average method in its process costing. The

following data concern the company’s Assembly Department for the month of June.

Materials Conversion

Cost per equivalent unit $ 24.30 $ 27.10

Equivalent units in ending work in process 630 225

During the month, 6,200 units were completed and transferred from the Assembly Department to

the next department. Required:

Determine the cost of ending work in process inventory and the cost of units transferred out of

the department during June using the weighted-average method.

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23) In June, one of the processing departments at Sorto Corporation had beginning work in

process inventory of $30,000. During the month, $345,000 of costs were added to production and

the cost of units transferred out from the department was $346,000. Required:

Construct a cost reconciliation report for the department for the month of June.

24) In July, one of the processing departments at Junkin Corporation had beginning work in

process inventory of $17,000 and ending work in process inventory of $19,000. During the

month, $193,000 of costs were added to production and the cost of units transferred out from the

department was $191,000. Required:

Construct a cost reconciliation report for the department for the month of July.

25) In August, one of the processing departments at Khatak Corporation had beginning work

in process inventory of $34,000 and ending work in process inventory of $30,000. During the

month, the cost of units transferred out from the department was $374,000. Required:

Construct a cost reconciliation report for the department for the month of August.

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26) A number of companies in different industries are listed below:

1. Electric utility

2. Frozen orange juice processor

3. Specialty coffee roaster (roasts small batches of specialty coffee beans)

4. Natural gas production company

5. Commercial photographer

6. Contract oil drilling company

Required:

For each company, indicate whether the company is most likely to use job-order costing or

process costing.

27) Some companies use process costing and some use job-order costing. Which method a

company uses depends on its industry. A number of companies in different industries are listed

below:

1. Construction company that builds office buildings

2. Winery that produces a number of varietal wines

3. Cement manufacturer

4. Mushroom farm that produces the standard button mushroom in caves

5. Aluminum refiner that makes aluminum ingots from bauxite ore

Required:

For each company, indicate whether the company is most likely to use job-order costing or

process costing.

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28) Whether a company uses process costing or job-order costing depends on its industry. A

number of companies in different industries are listed below:

1. Flour mill

2. Dairy farm

3. Electric utility

4. Custom boat builder

5. Management consulting firm

6. Aluminum refiner that makes aluminum ingots from bauxite ore

Required:

For each company, indicate whether the company is most likely to use job-order costing or

process costing.

29) In process costing, a separate work in process account is kept for each:

A) individual order.

B) equivalent unit.

C) processing department.

D) cost category (i.e., materials, conversion cost).

30) Which of the following journal entries would be used to record direct labor costs in a

company having two processing departments (Department A and Department B)?

A)

Debit Credit

Work in Process XXX

Salaries and Wages Payable XXX

B)

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Debit Credit

Salaries and Wages Expense XXX

Salaries and Wages Payable XXX

C)

Debit Credit

Work in Process-Department A XXX

Work in Process-Department B XXX

Salaries and Wages Payable XXX

D)

Debit Credit

Salaries and Wages Payable XXX

Work in Process XXX

31) Assume there was no beginning work in process inventory and the ending work in

process inventory is 70% complete with respect to conversion costs. Under the weighted-average

method, the number of equivalent units of production with respect to conversion costs would be:

A) the same as the units completed.

B) less than the units completed.

C) the same as the units started during the period.

D) less than the units started during the period.

32) Malcolm Company uses a weighted-average process costing system. All materials at

Malcolm are added at the beginning of the production process. The equivalent units for materials

at Malcolm would be the sum of:

A) units in ending work in process and the units started.

B) units in beginning work in process and the units started.

C) units in ending work in process and the units started and completed.

D) units in beginning work in process and the units started and completed.

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33) When computing the cost per equivalent unit, the weighted-average method of process

costing considers:

A) costs incurred during the current period only.

B) costs incurred during the current period plus cost of ending work in process

inventory.

C) costs incurred during the current period plus cost of beginning work in process

inventory.

D) costs incurred during the current period less cost of beginning work in process

inventory.

34) Under the weighted-average method, the cost of units transferred out of a department is

computed as follows for a cost category:

A) Costs added during the period + Cost of beginning work in process inventory

B) Units transferred to the next department × Cost per equivalent unit

C) Units in ending work in process inventory × Cost per equivalent unit

D) Cost of ending work in process inventory − Cost of beginning work in process

inventory

35) In the cost reconciliation report under the weighted-average method, the “Total cost

accounted for” equals:

A) Cost of beginning work in process inventory + Cost of units transferred out

B) Cost of beginning work in process inventory + Cost of units transferred in

C) Cost of ending work in process inventory + Cost of units transferred out

D) Cost of ending work in process inventory + Cost added to production during the

period

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36) In the cost reconciliation report under the weighted-average method, the “Costs to be

accounted for” section contains which of the following items?

A) Cost of beginning work in process inventory

B) Cost of ending work in process inventory

C) Cost of units transferred out

D) Cost of ending finished goods inventory

37) All of the following statements are correct when referring to process costing except:

A) Process costing would be appropriate for a jeweler who makes custom jewelry to

order.

B) A process costing system has the same basic purposes as a job-order costing system.

C) Units produced are indistinguishable from each other.

D) Costs are accumulated by department.

38) A process costing system is employed in those situations where: Garrison 17e Rechecks

2020-09-25

A) many different products, jobs, or batches of production are being produced each

period.

B) manufacturing involves a single, homogeneous product that flows evenly through the

production process on a continuous basis.

C) a service is performed such as in a law firm or an accounting firm.

D) full or absorption cost approach is not employed.

39) Which of the following types of companies would typically use process costing rather

than job-order costing?

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A) A small appliance repair shop.

B) A manufacturer of commercial passenger aircraft.

C) A specialty equipment manufacturer.

D) A breakfast cereal manufacturer.

40) The Werner Corporation uses the weighted-average method in its process costing system.

The company recorded 24,400 equivalent units for conversion costs for November in a particular

department. There were 4,000 units in the ending work in process inventory on November 30

which were 60% complete with respect to conversion costs. The November 1 work in process

inventory consisted of 5,000 units which were 40% complete with respect to conversion costs. A

total of 22,000 units were completed and transferred out of the department during the month. The

number of units started during November in the department was:

A) 22,000 units

B) 17,000 units

C) 26,000 units

D) 21,000 units

41) Jared Beverage Corporation uses a process costing system to collect costs related to the

production of its celery flavored cola. The cola is first processed in a Mixing Department and is

then transferred out and finished up in the Bottling Department. The finished cases of cola are

then transferred to Finished Goods Inventory. The following information relates to the

company’s two departments for the month of January:

Mixing Bottling

Cases of cola in work in process, January 1 10,000 5,000

Cases of cola completed/transferred out during January 65,000

?

Cases of cola in work in process, January 31 4,000 7,000

How many cases of cola were completed and transferred to Finished Goods Inventory during

January?

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A) 70,000

B) 63,000

C) 58,000

D) 77,000

42) The Assembly Department started the month with 25,800 units in its beginning work in

process inventory. An additional 310,800 units were transferred in from the prior department

during the month to begin processing in the Assembly Department. There were 30,800 units in

the ending work in process inventory of the Assembly Department. How many units were

transferred to the next processing department during the month?

A) 336,600

B) 367,400

C) 305,800

D) 315,800

43) The Assembly Department started the month with 24,000 units in its beginning work in

process inventory. An additional 309,000 units were transferred in from the prior department

during the month to begin processing in the Assembly Department. There were 29,000 units in

the ending work in process inventory of the Assembly Department. How many units were

transferred to the next processing department during the month?

A) 333,000

B) 362,000

C) 304,000

D) 314,000

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44) Jersey Corporation has a process costing system in which it uses the weighted-average

method. The equivalent units for conversion costs for the month were 47,500 units. The

beginning work in process inventory consisted of 15,000 units, 60% complete with respect to

conversion costs. The ending work in process inventory consisted of 10,000 units, 75% complete

with respect to conversion costs. The number of units started during the month was:

A) 25,000 units

B) 34,000 units

C) 35,000 units

D) 40,000 units

45) Bims Corporation uses the weighted-average method in its process costing system. The

Assembly Department started the month with 5,400 units in its beginning work in process

inventory that were 70% complete with respect to conversion costs. An additional 69,500 units

were transferred in from the prior department during the month to begin processing in the

Assembly Department. There were 35,000 units in the ending work in process inventory of the

Assembly Department that were 60% complete with respect to conversion costs.

What were the equivalent units for conversion costs in the Assembly Department for the month?

A) 39,900

B) 99,100

C) 57,120

D) 60,900

46) Bims Corporation uses the weighted-average method in its process costing system. The

Assembly Department started the month with 2,000 units in its beginning work in process

inventory that were 70% complete with respect to conversion costs. An additional 61,000 units

were transferred in from the prior department during the month to begin processing in the

Assembly Department. There were 18,000 units in the ending work in process inventory of the

Assembly Department that were 60% complete with respect to conversion costs.

What were the equivalent units for conversion costs in the Assembly Department for the month?

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A) 45,000

B) 77,000

C) 54,400

D) 55,800

47) Janner Corporation uses the weighted-average method in its process costing system.

Operating data for the Painting Department for the month of April appear below:

Units Percent Complete with Respect to Conversion

Beginning work in process inventory 4,000 50%

Transferred in from the prior department during April 90,400

Ending work in process inventory 1,600 60%

What were the equivalent units for conversion costs in the Painting Department for April?

A) 93,760

B) 92,800

C) 91,360

D) 88,000

48) Nabais Corporation uses the weighted-average method in its process costing system.

Operating data for the Lubricating Department for the month of October appear below:

Units Percent Complete with Respect to Conversion

Beginning work in process inventory 3,300 80%

Transferred in from the prior department during October 30,700

Completed and transferred to the next department during October

32,200

Ending work in process inventory 1,800 60%

What were the equivalent units for conversion costs in the Lubricating Department for October?

A) 31,780

B) 33,280

C) 32,200

D) 29,200

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49) Fabert Corporation uses the weighted-average method in its process costing system. The

Assembly Department started the month with 16,000 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. During the month 65,000 units were completed in the Assembly

Department and transferred to the next processing department. There were 11,000 units in the

ending work in process inventory of the Assembly Department that were 50% complete with

respect to conversion costs. What were the equivalent units for conversion costs in the Assembly

Department for the month?

A) 65,000

B) 70,500

C) 64,100

D) 55,000

50) Carrington Corporation produces canned vegetable soup. The company uses the

weighted-average method in its process costing system. The company sold 300,000 units in

January. Data concerning inventories follow:

Inventory at January 1:

Work in process None

Finished goods 75,000 units

Inventory at January 31:

Work in process (75% complete with respect to conversion costs)

24,000 units

Finished goods 60,000 units

What were the equivalent units for conversion costs for January?

A) 285,000 units.

B) 303,000 units

C) 300,000 units

D) 309,000 units

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51) Darden Corporation uses the weighted-average method in its process costing system. The

first processing department, the Welding Department, started the month with 18,800 units in its

beginning work in process inventory that were 10% complete with respect to conversion costs.

The conversion cost in this beginning work in process inventory was $18,200. An additional

88,000 units were started into production during the month. There were 21,000 units in the

ending work in process inventory of the Welding Department that were 70% complete with

respect to conversion costs. A total of $840,880 in conversion costs were incurred in the

department during the month. The cost per equivalent unit for conversion costs for the month is

closest to:

A) $9.086

B) $9.800

C) $8.548

D) $9.971

52) Darden Corporation uses the weighted-average method in its process costing system. The

first processing department, the Welding Department, started the month with 18,000 units in its

beginning work in process inventory that were 10% complete with respect to conversion costs.

The conversion cost in this beginning work in process inventory was $16,200. An additional

84,000 units were started into production during the month. There were 17,000 units in the

ending work in process inventory of the Welding Department that were 70% complete with

respect to conversion costs. A total of $836,880 in conversion costs were incurred in the

department during the month. The cost per equivalent unit for conversion costs for the month is

closest to:

A) $8.286

B) $9.000

C) $8.804

D) $9.963

53) Paceheco Corporation uses the weighted-average method in its process costing system.

The Molding Department is the second department in its production process. The data below

summarize the department’s operations in January.

Units Percent Complete with Respect to Conversion

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Beginning work in process inventory 6,050 70%

Transferred in from the prior department during January 59,950

Completed and transferred to the next department during January

57,750

Ending work in process inventory 8,250 40%

The accounting records indicate that the conversion cost that had been assigned to beginning

work in process inventory was $35,508 and a total of $560,204 in conversion costs were incurred

in the department during January. The cost per equivalent unit for conversion costs for January in

the Molding Department is closest to:

A) $9.631

B) $9.758

C) $9.832

D) $8.587

54) Paceheco Corporation uses the weighted-average method in its process costing system.

The Molding Department is the second department in its production process. The data below

summarize the department’s operations in January.

Units Percent Complete with Respect to Conversion

Beginning work in process inventory 5,100 70%

Transferred in from the prior department during January 59,000

Completed and transferred to the next department during January

56,800

Ending work in process inventory 7,300 40%

The accounting records indicate that the conversion cost that had been assigned to beginning

work in process inventory was $34,558 and a total of $559,254 in conversion costs were incurred

in the department during January. The cost per equivalent unit for conversion costs for January in

the Molding Department is closest to:

A) $9.479

B) $9.943

C) $9.680

D) $8.435

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55) Lucas Corporation uses the weighted-average method in its process costing system. The

company adds materials at the beginning of the process in the Forming Department, which is the

first of two stages in its production process. Information concerning operations in the Forming

Department in October follows:

Units Materials Cost

Work in process on October 1 6,000 $ 3,000

Units started during October 50,000 $ 25,560

Units completed and transferred to the next Department during October

44,000

What was the materials cost of work in process at October 31?

A) $3,060

B) $5,520

C) $6,000

D) $6,120

56) Hache Corporation uses the weighted-average method in its process costing system. The

first processing department, the Welding Department, started the month with 17,500 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 $7,880. An additional

90,000 units were started into production during the month and 93,000 units were completed in

the Welding Department and transferred to the next processing department. There were 14,500

units in the ending work in process inventory of the Welding Department that were 90%

complete with respect to conversion costs. A total of $203,400 in conversion costs were incurred

in the department during the month. The cost per equivalent unit for conversion costs for the

month is closest to:

A) $2.015

B) $2.250

C) $1.992

D) $2.324

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57) Hache Corporation uses the weighted-average method in its process costing system. The

first processing department, the Welding Department, started the month with 17,000 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 $7,480. An additional

89,000 units were started into production during the month and 92,000 units were completed in

the Welding Department and transferred to the next processing department. There were 14,000

units in the ending work in process inventory of the Welding Department that were 90%

complete with respect to conversion costs. A total of $202,400 in conversion costs were incurred

in the department during the month. The cost per equivalent unit for conversion costs for the

month is closest to:

A) $1.965

B) $2.200

C) $2.007

D) $2.274

58) Lanjan Corporation uses the weighted-average method in its process costing system.

Operating data for the first processing department for the month of June appear below:

Units Percent Complete with Respect to Conversion

Beginning work in process inventory 14,000 50%

Started into production during June 76,000

Ending work in process inventory 20,000 10%

According to the company’s records, the conversion cost in beginning work in process inventory

was $92,218 at the beginning of June. Additional conversion costs of $571,618 were incurred in

the department during the month. What was the cost per equivalent unit for conversion costs for

the month? (Round off to three decimal places.)

A) $9.410

B) $7.521

C) $5.954

D) $9.220

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59) The Richmond Corporation uses the weighted-average method in its process costing

system. The company has only a single processing department. The company’s ending work in

process inventory on August 31 consisted of 19,000 units. The units in the ending work in

process inventory were 100% complete with respect to materials and 60% complete with respect

to labor and overhead. If the cost per equivalent unit for August was $3.00 for materials and

$4.50 for labor and overhead, the total cost assigned to the ending work in process inventory

was:

A) $142,500

B) $85,500

C) $91,200

D) $108,300

60) The Richmond Corporation uses the weighted-average method in its process costing

system. The company has only a single processing department. The company’s ending work in

process inventory on August 31 consisted of 18,000 units. The units in the ending work in

process inventory were 100% complete with respect to materials and 60% complete with respect

to labor and overhead. If the cost per equivalent unit for August was $2.75 for materials and

$4.25 for labor and overhead, the total cost assigned to the ending work in process inventory

was:

A) $126,000

B) $75,600

C) $80,100

D) $95,400

61) Saada Corporation uses the weighted-average method in its process costing system. The

Fitting Department is the second department in its production process. The data below

summarize the department’s operations in March.

Units Percent Complete with Respect to Conversion

Beginning work in process inventory 5,500 20%

Transferred in from the prior department during March 60,800

Ending work in process inventory 9,000 60%

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The Fitting Department’s cost per equivalent unit for conversion cost for March was $6.08. How

much conversion cost was assigned to the units transferred out of the Fitting Department during

March?

A) $348,384

B) $403,104

C) $328,020

D) $369,664

62) Saada Corporation uses the weighted-average method in its process costing system. The

Fitting Department is the second department in its production process. The data below

summarize the department’s operations in March.

Units Percent Complete with Respect to Conversion

Beginning work in process inventory 3,700 20%

Transferred in from the prior department during March 59,000

Ending work in process inventory 7,200 60%

The Fitting Department’s cost per equivalent unit for conversion cost for March was $5.99. How

much conversion cost was assigned to the units transferred out of the Fitting Department during

March?

A) $332,445.00

B) $375,573.00

C) $328,012.40

D) $353,410.00

63) Raider Corporation uses the weighted-average method in its process costing system. The

Molding Department is the second department in its production process. The data below

summarize the department’s operations in January.

Units Percent Complete with Respect to Conversion

Beginning work in process inventory 8,900 10%

Transferred in from the prior department during January 76,000

Completed and transferred to the next department during January

75,800

Ending work in process inventory 9,100 80%

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The Molding Department’s cost per equivalent unit for conversion cost for January was $3.31.

How much conversion cost was assigned to the ending work in process inventory in the Molding

Department for January?

A) $22,118.70

B) $30,121.00

C) $24,096.80

D) $6,024.20

64) Raider Corporation uses the weighted-average method in its process costing system. The

Molding Department is the second department in its production process. The data below

summarize the department’s operations in January.

Units Percent Complete with Respect to Conversion

Beginning work in process inventory 7,700 10%

Transferred in from the prior department during January 64,000

Completed and transferred to the next department during January

63,800

Ending work in process inventory 7,900 80%

The Molding Department’s cost per equivalent unit for conversion cost for January was $3.19.

How much conversion cost was assigned to the ending work in process inventory in the Molding

Department for January?

A) $22,106.70

B) $25,201.00

C) $20,160.80

D) $5,040.20

65) Lap Corporation uses the weighted-average method in its process costing system. The

beginning work in process inventory in a particular department consisted of 80,000 units, 100%

complete with respect to materials and 25% complete with respect to conversion costs. The total

dollar value of this inventory was $226,000. During the month, 150,000 units were transferred

out of the department. The costs per equivalent unit for the month were $2.00 for materials and

$3.50 for conversion costs. The cost of the units completed and transferred out of the department

was:

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A) $681,000

B) $765,000

C) $821,000

D) $825,000

66) Walbin Corporation uses the weighted-average method in its process costing system. The

beginning work in process inventory in a particular department consisted of 17,000 units, 100%

complete with respect to materials cost and 20% complete with respect to conversion costs. The

total cost in the beginning work in process inventory was $24,800. A total of 51,000 units were

transferred out of the department during the month. The costs per equivalent unit were computed

to be $1.40 for materials and $3.10 for conversion costs. The total cost of the units completed

and transferred out of the department was:

A) $229,500

B) $263,840

C) $197,880

D) $240,040

67) Walbin Corporation uses the weighted-average method in its process costing system. The

beginning work in process inventory in a particular department consisted of 12,000 units, 100%

complete with respect to materials cost and 20% complete with respect to conversion costs. The

total cost in the beginning work in process inventory was $39,400. A total of 42,000 units were

transferred out of the department during the month. The costs per equivalent unit were computed

to be $2.40 for materials and $4.50 for conversion costs. The total cost of the units completed

and transferred out of the department was:

A) $250,200

B) $289,800

C) $250,400

D) $189,000

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68) Vallin Manufacturing Corporation’s beginning work in process inventory consisted of

9,200 units, 100% complete with respect to materials cost and 60% complete with respect to

conversion costs. The total cost in the beginning inventory was $48,000. During the month,

52,000 units were transferred out. The equivalent unit cost was computed to be $3.70 for

materials and $4.20 for conversion costs under the weighted-average method. Given this

information, the total cost of the units completed and transferred out was:

A) $376,000

B) $305,600

C) $410,800

D) $304,000

69) Vallin Manufacturing Corporation’s beginning work in process inventory consisted of

8,000 units, 100% complete with respect to materials cost and 60% complete with respect to

conversion costs. The total cost in the beginning inventory was $36,000. During the month,

40,000 units were transferred out. The equivalent unit cost was computed to be $2.50 for

materials and $3.00 for conversion costs under the weighted-average method. Given this

information, the total cost of the units completed and transferred out was:

A) $256,000

B) $185,600

C) $220,000

D) $184,000

70) The following data were taken from the accounting records of the Mixing Department of

Kappa Corporation which uses the weighted-average method in its process costing system:

Beginning work in process inventory:

Cost $ 19,000

Units 30,000 units

Percent completion with respect to materials 100%

Percent completion with respect to conversion 60%

Units completed and transferred out 82,000 units

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Cost per equivalent unit:

Material $ 1.50

Conversion $ 0.75

The cost of units transferred out was:

A) $184,500

B) $149,500

C) $167,500

D) $145,000

71) Mundes Corporation uses the weighted-average method in its process costing system.

The beginning work in process inventory in its Painting Department consisted of 2,600 units that

were 60% complete with respect to materials and 40% complete with respect to conversion costs.

The cost of the beginning work in process inventory in the department was recorded as $9,400.

During the period, 8,600 units were completed and transferred on to the next department. The

costs per equivalent unit for the period were $4.60 for material and $5.60 for conversion costs.

The cost of units transferred out during the month was:

A) $48,160

B) $64,400

C) $87,720

D) $82,000

72) Mundes Corporation uses the weighted-average method in its process costing system.

The beginning work in process inventory in its Painting Department consisted of 2,000 units that

were 60% complete with respect to materials and 40% complete with respect to conversion costs.

The cost of the beginning work in process inventory in the department was recorded as $8,800.

During the period, 8,000 units were completed and transferred on to the next department. The

costs per equivalent unit for the period were $4.00 for material and $5.00 for conversion costs.

The cost of units transferred out during the month was:

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A) $40,000

B) $63,200

C) $72,000

D) $80,800

73) In July, one of the processing departments at Okamura Corporation had beginning work

in process inventory of $17,000 and ending work in process inventory of $22,000. During the

month, the cost of units transferred out from the department was $152,000. In the department’s

cost reconciliation report for July, the total cost to be accounted for under the weighted-average

method would be:

A) $39,000

B) $123,000

C) $136,000

D) $174,000

74) In July, one of the processing departments at Okamura Corporation had beginning work

in process inventory of $13,000 and ending work in process inventory of $18,000. During the

month, the cost of units transferred out from the department was $148,000. In the department’s

cost reconciliation report for July, the total cost to be accounted for under the weighted-average

method would be:

A) $31,000

B) $119,000

C) $132,000

D) $166,000

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75) In April, one of the processing departments at Terada Corporation had beginning work in

process inventory of $30,000 and ending work in process inventory of $36,000. During the

month, $253,000 of costs were added to production and the cost of units transferred out from the

department was $247,000. In the department’s cost reconciliation report for April, the total cost

to be accounted for under the weighted-average method would be:

A) $66,000

B) $283,000

C) $566,000

D) $536,000

76) In April, one of the processing departments at Terada Corporation had beginning work in

process inventory of $21,000 and ending work in process inventory of $27,000. During the

month, $244,000 of costs were added to production and the cost of units transferred out from the

department was $238,000. In the department’s cost reconciliation report for April, the total cost

to be accounted for under the weighted-average method would be:

A) $48,000

B) $265,000

C) $530,000

D) $509,000

77) Kota Toy Corporation manufactures lizard dolls in two departments, Molding and

Assembly. In the Molding Department, plastic is injected into a lizard-shaped mold. The dolls

that come out of the molds are then transferred to the Assembly Department where hair is

applied. Kota uses a weighted-average process cost system to collect costs in both departments.

On January 1, the Molding Department had 4,000 dolls in process. These dolls were 100%

complete with respect to direct materials and 70% complete with respect to conversion cost.

During January, Molding completed 79,000 dolls. On January 31, Molding had 7,000 dolls in

work in process. These dolls were 100% complete with respect to direct materials and 25%

complete with respect to conversion cost.

How many dolls were started in the Molding Department during January?

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A) 75,000

B) 76,000

C) 82,000

D) 86,000

78) Kota Toy Corporation manufactures lizard dolls in two departments, Molding and

Assembly. In the Molding Department, plastic is injected into a lizard-shaped mold. The dolls

that come out of the molds are then transferred to the Assembly Department where hair is

applied. Kota uses a weighted-average process cost system to collect costs in both departments.

On January 1, the Molding Department had 4,000 dolls in process. These dolls were 100%

complete with respect to direct materials and 70% complete with respect to conversion cost.

During January, Molding completed 79,000 dolls. On January 31, Molding had 7,000 dolls in

work in process. These dolls were 100% complete with respect to direct materials and 25%

complete with respect to conversion cost.

What account would Kota debit to record the transfer of dolls out of the Molding Department?

A) Work in Process — Assembly

B) Finished Goods

C) Manufacturing Overhead

D) Work in Process — Molding

79) Kota Toy Corporation manufactures lizard dolls in two departments, Molding and

Assembly. In the Molding Department, plastic is injected into a lizard-shaped mold. The dolls

that come out of the molds are then transferred to the Assembly Department where hair is

applied. Kota uses a weighted-average process cost system to collect costs in both departments.

On January 1, the Molding Department had 4,000 dolls in process. These dolls were 100%

complete with respect to direct materials and 70% complete with respect to conversion cost.

During January, Molding completed 79,000 dolls. On January 31, Molding had 7,000 dolls in

work in process. These dolls were 100% complete with respect to direct materials and 25%

complete with respect to conversion cost.

What are the Molding Department’s equivalent units related to materials for January?

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A) 79,000

B) 86,000

C) 89,000

D) 93,000

80) Kota Toy Corporation manufactures lizard dolls in two departments, Molding and

Assembly. In the Molding Department, plastic is injected into a lizard-shaped mold. The dolls

that come out of the molds are then transferred to the Assembly Department where hair is

applied. Kota uses a weighted-average process cost system to collect costs in both departments.

On January 1, the Molding Department had 4,000 dolls in process. These dolls were 100%

complete with respect to direct materials and 70% complete with respect to conversion cost.

During January, Molding completed 79,000 dolls. On January 31, Molding had 7,000 dolls in

work in process. These dolls were 100% complete with respect to direct materials and 25%

complete with respect to conversion cost.

What are the Molding Department’s equivalent units related to conversion costs for January?

A) 77,950

B) 80,750

C) 83,750

D) 84,250

81) Arona Corporation manufactures canoes in two departments, Fabrication and

Waterproofing. In the Fabrication Department, fiberglass panels are attached to a canoe- shaped

aluminum frame. The canoes are then transferred to the Waterproofing department to be coated

with sealant. Arona uses a weighted-average process cost system to collect costs in both

departments.

All materials in the Fabrication Department are added at the beginning of the production

process. On July 1, the Fabrication Department had 30 canoes in process that were 20%

complete with respect to conversion cost. On July 31, Fabrication had 20 canoes in process that

were 40% complete with respect to conversion cost. During July, the Fabrication Department

completed 86 canoes and transferred them to the Waterproofing Department.

What are the Fabrication Department’s equivalent units of production related to materials for

July?

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A) 94

B) 78

C) 116

D) 106

82) Arona Corporation manufactures canoes in two departments, Fabrication and

Waterproofing. In the Fabrication Department, fiberglass panels are attached to a canoe- shaped

aluminum frame. The canoes are then transferred to the Waterproofing department to be coated

with sealant. Arona uses a weighted-average process cost system to collect costs in both

departments.

All materials in the Fabrication Department are added at the beginning of the production

process. On July 1, the Fabrication Department had 30 canoes in process that were 20%

complete with respect to conversion cost. On July 31, Fabrication had 20 canoes in process that

were 40% complete with respect to conversion cost. During July, the Fabrication Department

completed 70 canoes and transferred them to the Waterproofing Department.

What are the Fabrication Department’s equivalent units of production related to materials for

July?

A) 78

B) 62

C) 100

D) 90

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83) Arona Corporation manufactures canoes in two departments, Fabrication and

Waterproofing. In the Fabrication Department, fiberglass panels are attached to a canoe- shaped

aluminum frame. The canoes are then transferred to the Waterproofing department to be coated

with sealant. Arona uses a weighted-average process cost system to collect costs in both

departments.

All materials in the Fabrication Department are added at the beginning of the production

process. On July 1, the Fabrication Department had 30 canoes in process that were 20%

complete with respect to conversion cost. On July 31, Fabrication had 20 canoes in process that

were 40% complete with respect to conversion cost. During July, the Fabrication Department

completed 84 canoes and transferred them to the Waterproofing Department.

What are the Fabrication Department’s equivalent units of production related to conversion

costs for July?

A) 76

B) 92

C) 114

D) 104

84) Arona Corporation manufactures canoes in two departments, Fabrication and

Waterproofing. In the Fabrication Department, fiberglass panels are attached to a canoe- shaped

aluminum frame. The canoes are then transferred to the Waterproofing department to be coated

with sealant. Arona uses a weighted-average process cost system to collect costs in both

departments.

All materials in the Fabrication Department are added at the beginning of the production

process. On July 1, the Fabrication Department had 30 canoes in process that were 20%

complete with respect to conversion cost. On July 31, Fabrication had 20 canoes in process that

were 40% complete with respect to conversion cost. During July, the Fabrication Department

completed 70 canoes and transferred them to the Waterproofing Department.

What are the Fabrication Department’s equivalent units of production related to conversion

costs for July?

A) 62

B) 78

C) 100

D) 90

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85) Arona Corporation manufactures canoes in two departments, Fabrication and

Waterproofing. In the Fabrication Department, fiberglass panels are attached to a canoe- shaped

aluminum frame. The canoes are then transferred to the Waterproofing department to be coated

with sealant. Arona uses a weighted-average process cost system to collect costs in both

departments.

All materials in the Fabrication Department are added at the beginning of the production

process. On July 1, the Fabrication Department had 30 canoes in process that were 20%

complete with respect to conversion cost. On July 31, Fabrication had 20 canoes in process that

were 40% complete with respect to conversion cost. During July, the Fabrication Department

completed 70 canoes and transferred them to the Waterproofing Department.

What journal entry should Arona make to record the completion of the production process by

the Waterproofing Department?

A)

Debit Credit

Finished Goods XXX

Work in Process – Waterproofing XXX

B)

Debit Credit

Raw Materials XXX

Work in Process – Waterproofing XXX

C)

Debit Credit

Manufacturing Overhead XXX

Work in Process – Waterproofing XXX

D)

Debit Credit

Finished Goods XXX

Work in Process – Fabrication XXX

Work in Process – Waterproofing XXX

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86) Tript Corporation has a process costing system and uses the weighted-average method.

The company had 3,000 units in work in process on February 1 that were 60% complete with

respect to conversion costs. During the month, 10,000 units were completed. At the end of the

month, 4,000 units remained in work in process that were 40% complete with respect to

conversion costs. Materials are added at the beginning of the process.

The equivalent units for February for conversion costs were:

A) 9,800

B) 11,200

C) 12,800

D) 11,600

87) Tript Corporation has a process costing system and uses the weighted-average method.

The company had 3,000 units in work in process on February 1 that were 60% complete with

respect to conversion costs. During the month, 10,000 units were completed. At the end of the

month, 4,000 units remained in work in process that were 40% complete with respect to

conversion costs. Materials are added at the beginning of the process.

How many units were started into production during February?

A) 9,800

B) 11,000

C) 10,000

D) 9,000

88) Inacio 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 $ 12,900

Conversion costs $ 5,000

Percent complete with respect to materials 75%

Percent complete with respect to conversion 20%

Units started into production during the month 9,500

Units transferred to the next department during the month 8,400

Materials costs added during the month $ 172,000

Conversion costs added during the month $ 240,200

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Ending work in process inventory:

Units in ending work in process inventory 1,900

Percent complete with respect to materials 90%

Percent complete with respect to conversion 30%

What are the equivalent units for conversion costs for the month in the first processing

department?

A) 8,400

B) 8,970

C) 570

D) 10,300

89) Inacio 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 2,600

Materials costs $ 14,700

Conversion costs $ 6,800

Percent complete with respect to materials 75%

Percent complete with respect to conversion 20%

Units started into production during the month 11,300

Units transferred to the next department during the month 10,200

Materials costs added during the month $ 173,800

Conversion costs added during the month $ 243,800

Ending work in process inventory:

Units in ending work in process inventory 3,700

Percent complete with respect to materials 90%

Percent complete with respect to conversion 30%

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

A) $11.25

B) $12.19

C) $10.94

D) $13.93

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90) Inacio 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 $ 12,900

Conversion costs $ 5,000

Percent complete with respect to materials 75%

Percent complete with respect to conversion 20%

Units started into production during the month 9,500

Units transferred to the next department during the month 8,400

Materials costs added during the month $ 172,000

Conversion costs added during the month $ 240,200

Ending work in process inventory:

Units in ending work in process inventory 1,900

Percent complete with respect to materials 90%

Percent complete with respect to conversion 30%

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

A) $17.01

B) $17.95

C) $16.70

D) $18.29

91) Domingo Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 1,000 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 6,100 50%

Conversion costs $ 2,300 20%

A total of 7,400 units were started and 6,700 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 159,300

Conversion costs $ 121,000

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The ending inventory was 85% complete with respect to materials and 75% complete with

respect to conversion costs.

How many units are in ending work in process inventory in the first processing department at

the end of the month?

A) 700

B) 1,200

C) 6,400

D) 1,700

92) Domingo Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 400 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 5,500 50%

Conversion costs $ 1,700 20%

A total of 6,800 units were started and 6,100 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 158,700

Conversion costs $ 120,400

The ending inventory was 85% complete with respect to materials and 75% complete with

respect to conversion costs.

How many units are in ending work in process inventory in the first processing department at

the end of the month?

A) 700

B) 900

C) 6,400

D) 1,100

93) Domingo Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 500 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

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Materials costs $ 5,600 50%

Conversion costs $ 1,800 20%

A total of 6,900 units were started and 6,200 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 158,800

Conversion costs $ 120,500

The ending inventory was 85% complete with respect to materials and 75% complete with

respect to conversion costs.

What are the equivalent units for conversion costs for the month in the first processing

department?

A) 7,400

B) 7,100

C) 6,200

D) 900

94) Domingo Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 400 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 5,500 50%

Conversion costs $ 1,700 20%

A total of 6,800 units were started and 6,100 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 158,700

Conversion costs $ 120,400

The ending inventory was 85% complete with respect to materials and 75% complete with

respect to conversion costs.

What are the equivalent units for conversion costs for the month in the first processing

department?

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A) 7,200

B) 6,925

C) 6,100

D) 825

95) Domingo Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 1,700 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 6,800 50%

Conversion costs $ 3,000 20%

A total of 8,100 units were started and 7,400 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 160,000

Conversion costs $ 121,700

The ending inventory was 85% complete with respect to materials and 75% complete with

respect to conversion costs.

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

A) $14.63

B) $15.40

C) $17.67

D) $15.15

96) Domingo Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 400 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 5,500 50%

Conversion costs $ 1,700 20%

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A total of 6,800 units were started and 6,100 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 158,700

Conversion costs $ 120,400

The ending inventory was 85% complete with respect to materials and 75% complete with

respect to conversion costs.

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

A) $22.04

B) $22.81

C) $23.34

D) $22.56

97) Jublot 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 600

Materials costs $ 7,300

Conversion costs $ 2,300

Percent complete with respect to materials 50%

Percent complete with respect to conversion 10%

Units started into production during the month 9,400

Units transferred to the next department during the month 8,600

Materials costs added during the month $ 196,300

Conversion costs added during the month $ 315,800

Ending work in process inventory:

Units in ending work in process inventory 1,400

Percent complete with respect to materials 70%

Percent complete with respect to conversion 40%

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

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A) $16.31

B) $21.25

C) $14.48

D) $15.88

98) Jublot 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 600

Materials costs $ 7,300

Conversion costs $ 2,300

Percent complete with respect to materials 50%

Percent complete with respect to conversion 10%

Units started into production during the month 9,400

Units transferred to the next department during the month 8,600

Materials costs added during the month $ 196,300

Conversion costs added during the month $ 315,800

Ending work in process inventory:

Units in ending work in process inventory 1,400

Percent complete with respect to materials 70%

Percent complete with respect to conversion 40%

The cost per equivalent unit for conversion costs for the first department for the month is closest

to:

A) $21.76

B) $19.45

C) $34.73

D) $24.38

99) Lucas 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 900

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Materials costs $ 9,600

Conversion costs $ 7,700

Percent complete with respect to materials 60%

Percent complete with respect to conversion 45%

Units started into production during the month 8,100

Units transferred to the next department during the month 6,900

Materials costs added during the month $ 115,800

Conversion costs added during the month $ 120,500

Ending work in process inventory:

Units in ending work in process inventory 2,100

Percent complete with respect to materials 75%

Percent complete with respect to conversion 20%

What are the equivalent units for materials for the month in the first processing department?

A) 9,000

B) 1,575

C) 6,900

D) 8,475

100) Lucas 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 900

Materials costs $ 9,600

Conversion costs $ 7,700

Percent complete with respect to materials 60%

Percent complete with respect to conversion 45%

Units started into production during the month 8,100

Units transferred to the next department during the month 6,900

Materials costs added during the month $ 115,800

Conversion costs added during the month $ 120,500

Ending work in process inventory:

Units in ending work in process inventory 2,100

Percent complete with respect to materials 75%

Percent complete with respect to conversion 20%

The cost per equivalent unit for conversion costs for the first department for the month is closest

to:

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A) $18.39

B) $16.46

C) $17.51

D) $14.24

101) Lucas 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 900

Materials costs $ 9,600

Conversion costs $ 7,700

Percent complete with respect to materials 60%

Percent complete with respect to conversion 45%

Units started into production during the month 8,100

Units transferred to the next department during the month 6,900

Materials costs added during the month $ 115,800

Conversion costs added during the month $ 120,500

Ending work in process inventory:

Units in ending work in process inventory 2,100

Percent complete with respect to materials 75%

Percent complete with respect to conversion 20%

The cost of ending work in process inventory in the first processing department according to the

company’s cost system is closest to:

A) $13,570

B) $50,888

C) $30,660

D) $67,851

102) Sumter Corporation uses the weighted-average method in its process costing system. The

following data pertain to operations in the first processing department for a recent month:

Work in process, beginning:

Units in process 6,000

Percent complete with respect to materials 60%

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Percent complete with respect to conversion 20%

Costs in the beginning inventory:

Materials cost $ 78,200

Conversion cost $ 3,600

Units started during the month ?

Units completed and transferred out during the month 70,000

Costs added to production during the month:

Materials cost $ 286,600

Conversion cost $ 216,000

Work in process, ending:

Units in process 8,000

Percent complete with respect to materials 75%

Percent complete with respect to conversion 25%

How many units were started into production during the month?

A) 68,000 units

B) 84,000 units

C) 72,000 units

D) 56,000 units

103) Sumter Corporation uses the weighted-average method in its process costing system. The

following data pertain to operations in the first processing department for a recent month:

Work in process, beginning:

Units in process 6,000

Percent complete with respect to materials 60%

Percent complete with respect to conversion 20%

Costs in the beginning inventory:

Materials cost $ 78,200

Conversion cost $ 3,600

Units started during the month ?

Units completed and transferred out during the month 70,000

Costs added to production during the month:

Materials cost $ 286,600

Conversion cost $ 216,000

Work in process, ending:

Units in process 8,000

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Percent complete with respect to materials 75%

Percent complete with respect to conversion 25%

What was the cost per equivalent unit for conversion during the month?

A) $5.45

B) $6.95

C) $4.00

D) $3.05

104) Sumter Corporation uses the weighted-average method in its process costing system. The

following data pertain to operations in the first processing department for a recent month:

Work in process, beginning:

Units in process 6,000

Percent complete with respect to materials 60%

Percent complete with respect to conversion 20%

Costs in the beginning inventory:

Materials cost $ 78,200

Conversion cost $ 3,600

Units started during the month ?

Units completed and transferred out during the month 70,000

Costs added to production during the month:

Materials cost $ 286,600

Conversion cost $ 216,000

Work in process, ending:

Units in process 8,000

Percent complete with respect to materials 75%

Percent complete with respect to conversion 25%

How much cost, in total, was assigned to the units transferred out to the next department during

the month?

A) $549,500

B) $584,400

C) $502,600

D) $535,000

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105) Carpenter Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 2,200 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent

Complete

Materials costs $ 6,800 60%

Conversion costs $ 10,100 55%

A total of 10,200 units were started and 8,700 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 96,600

Conversion costs $ 170,800

The ending inventory was 85% complete with respect to materials and 70% complete with

respect to conversion costs.

How many units are in ending work in process inventory in the first processing department at

the end of the month?

A) 3,700

B) 1,700

C) 8,000

D) 1,500

106) Carpenter 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 $ 5,200 60%

Conversion costs $ 8,500 55%

A total of 7,800 units were started and 7,100 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 95,000

Conversion costs $ 169,200

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The ending inventory was 85% complete with respect to materials and 70% complete with

respect to conversion costs.

How many units are in ending work in process inventory in the first processing department at

the end of the month?

A) 1,300

B) 900

C) 7,200

D) 700

107) Carpenter 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 $ 5,200 60%

Conversion costs $ 8,500 55%

A total of 7,800 units were started and 7,100 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 95,000

Conversion costs $ 169,200

The ending inventory was 85% complete with respect to materials and 70% complete with

respect to conversion costs.

What are the equivalent units for conversion costs for the month in the first processing

department?

A) 910

B) 8,010

C) 7,100

D) 8,400

108) Carpenter 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

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Materials costs $ 5,200 60%

Conversion costs $ 8,500 55%

A total of 7,800 units were started and 7,100 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 95,000

Conversion costs $ 169,200

The ending inventory was 85% complete with respect to materials and 70% complete with

respect to conversion costs.

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

A) $11.31

B) $12.21

C) $11.58

D) $11.93

109) Carpenter 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 $ 5,200 60%

Conversion costs $ 8,500 55%

A total of 7,800 units were started and 7,100 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 95,000

Conversion costs $ 169,200

The ending inventory was 85% complete with respect to materials and 70% complete with

respect to conversion costs.

The total cost transferred from the first processing department to the next processing

department during the month is closest to: (Round “Cost per equivalent unit” to 3 decimal

places.)

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A) $264,200

B) $244,219

C) $288,935

D) $277,900

110) Fuller Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 700 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 12,700 85%

Conversion costs $ 10,900 30%

A total of 9,800 units were started and 8,800 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 175,600

Conversion costs $ 420,900

The ending inventory was 85% complete with respect to materials and 70% complete with

respect to conversion costs.

The total cost transferred from the first processing department to the next processing

department during the month is closest to: (Round “Cost per equivalent unit” to 3 decimal

places.)

A) $620,100

B) $646,832

C) $542,106

D) $596,500

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111) Fuller Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 700 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 12,700 85%

Conversion costs $ 10,900 30%

A total of 9,800 units were started and 8,800 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 175,600

Conversion costs $ 420,900

The ending inventory was 85% complete with respect to materials and 70% complete with

respect to conversion costs.

The cost of ending work in process inventory in the first processing department according to

the company’s cost system is closest to: (Round “Cost per equivalent unit” to 3 decimal

places.)

A) $77,994

B) $73,308

C) $104,725

D) $89,016

112) Gunes Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 10,600 65%

Conversion costs $ 12,800 30%

A total of 8,500 units were started and 7,400 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 142,100

Conversion costs $ 359,500

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The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

How many units are in ending work in process inventory in the first processing department at

the end of the month?

A) 1,900

B) 1,100

C) 7,700

D) 900

113) Gunes Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 10,600 65%

Conversion costs $ 12,800 30%

A total of 8,500 units were started and 7,400 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 142,100

Conversion costs $ 359,500

The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

What are the equivalent units for materials for the month in the first processing department?

A) 7,400

B) 9,300

C) 8,350

D) 950

Version 1 60

114) Gunes Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 10,600 65%

Conversion costs $ 12,800 30%

A total of 8,500 units were started and 7,400 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 142,100

Conversion costs $ 359,500

The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

What are the equivalent units for conversion costs for the month in the first processing

department?

A) 9,300

B) 8,065

C) 7,400

D) 665

115) Gunes Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 1,900 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 11,700 65%

Conversion costs $ 13,900 30%

A total of 9,600 units were started and 8,500 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 143,200

Conversion costs $ 360,600

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The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

A) $15.49

B) $13.73

C) $13.13

D) $11.99

116) Gunes Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 10,600 65%

Conversion costs $ 12,800 30%

A total of 8,500 units were started and 7,400 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 142,100

Conversion costs $ 359,500

The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

A) $18.29

B) $17.02

C) $16.42

D) $15.28

Version 1 62

117) Gunes Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 10,600 65%

Conversion costs $ 12,800 30%

A total of 8,500 units were started and 7,400 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 142,100

Conversion costs $ 359,500

The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

The cost per equivalent unit for conversion costs for the first department for the month is

closest to:

A) $40.03

B) $46.16

C) $44.58

D) $48.47

118) Gunes Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 10,600 65%

Conversion costs $ 12,800 30%

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A total of 8,500 units were started and 7,400 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 142,100

Conversion costs $ 359,500

The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

The total cost transferred from the first processing department to the next processing

department during the month is closest to:

A) $476,929

B) $599,376

C) $501,600

D) $525,000

119) Gunes Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 10,600 65%

Conversion costs $ 12,800 30%

A total of 8,500 units were started and 7,400 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 142,100

Conversion costs $ 359,500

The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

The cost of ending work in process inventory in the first processing department according to

the company’s cost system is closest to:

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A) $61,227

B) $48,071

C) $42,859

D) $122,453

120) Bistrol Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 15,700 75%

Conversion costs $ 7,700 20%

A total of 8,400 units were started and 7,500 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 186,300

Conversion costs $ 329,800

The ending inventory was 70% complete with respect to materials and 60% complete with

respect to conversion costs.

How many units are in ending work in process inventory in the first processing department at

the end of the month?

A) 7,600

B) 900

C) 1,700

D) 1,200

121) Bistrol Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Version 1 65

Materials costs $ 15,700 75%

Conversion costs $ 7,700 20%

A total of 8,400 units were started and 7,500 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 186,300

Conversion costs $ 329,800

The ending inventory was 70% complete with respect to materials and 60% complete with

respect to conversion costs.

What are the equivalent units for conversion costs for the month in the first processing

department?

A) 9,200

B) 8,520

C) 7,500

D) 1,020

122) Bistrol Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 15,700 75%

Conversion costs $ 7,700 20%

A total of 8,400 units were started and 7,500 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 186,300

Conversion costs $ 329,800

The ending inventory was 70% complete with respect to materials and 60% complete with

respect to conversion costs.

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

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A) $21.44

B) $21.96

C) $20.25

D) $23.25

123) Bistrol Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 15,700 75%

Conversion costs $ 7,700 20%

A total of 8,400 units were started and 7,500 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 186,300

Conversion costs $ 329,800

The ending inventory was 70% complete with respect to materials and 60% complete with

respect to conversion costs.

The cost per equivalent unit for conversion costs for the first department for the month is

closest to:

A) $41.59

B) $38.71

C) $39.61

D) $36.68

124) Bistrol Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Version 1 67

Cost Percent Complete

Materials costs $ 15,700 75%

Conversion costs $ 7,700 20%

A total of 8,400 units were started and 7,500 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 186,300

Conversion costs $ 329,800

The ending inventory was 70% complete with respect to materials and 60% complete with

respect to conversion costs.

The total cost transferred from the first processing department to the next processing

department during the month is closest to: (Round “Cost per equivalent unit” to 3 decimal

places.)

A) $516,100

B) $471,435

C) $539,500

D) $578,294

125) Bistrol Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 15,700 75%

Conversion costs $ 7,700 20%

A total of 8,400 units were started and 7,500 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 186,300

Conversion costs $ 329,800

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The ending inventory was 70% complete with respect to materials and 60% complete with

respect to conversion costs.

The cost of ending work in process inventory in the first processing department according to

the company’s cost system is closest to: (Round “Cost per equivalent unit” to 3 decimal

places.)

A) $68,067

B) $64,115

C) $74,801

D) $106,859

126) Annenbaum Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 1,200 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 6,500 65%

Conversion costs $ 7,600 45%

A total of 8,100 units were started and 6,700 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 126,300

Conversion costs $ 207,800

The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

What are the equivalent units for conversion costs for the month in the first processing

department?

A) 7,610

B) 6,700

C) 910

D) 9,300

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127) Annenbaum Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 400 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 5,700 65%

Conversion costs $ 6,800 45%

A total of 6,500 units were started and 5,900 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 125,500

Conversion costs $ 207,000

The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

What are the equivalent units for conversion costs for the month in the first processing

department?

A) 6,250

B) 5,900

C) 350

D) 6,900

128) Annenbaum Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 2,200 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 7,500 65%

Conversion costs $ 8,600 45%

A total of 10,100 units were started and 7,700 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 127,300

Conversion costs $ 208,800

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The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

A) $8.37

B) $8.97

C) $13.48

D) $7.55

129) Annenbaum Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 400 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 5,700 65%

Conversion costs $ 6,800 45%

A total of 6,500 units were started and 5,900 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 125,500

Conversion costs $ 207,000

The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

A) $19.01

B) $19.61

C) $20.50

D) $18.19

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130) Annenbaum Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 1,100 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 6,400 65%

Conversion costs $ 7,500 45%

A total of 7,900 units were started and 6,600 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 126,200

Conversion costs $ 207,700

The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

The cost per equivalent unit for conversion costs for the first department for the month is

closest to:

A) $24.83

B) $29.76

C) $26.96

D) $28.92

131) Annenbaum Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 400 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 5,700 65%

Conversion costs $ 6,800 45%

A total of 6,500 units were started and 5,900 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 125,500

Conversion costs $ 207,000

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The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

The cost per equivalent unit for conversion costs for the first department for the month is

closest to:

A) $30.99

B) $35.92

C) $33.12

D) $34.21

132) Annenbaum Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 400 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 5,700 65%

Conversion costs $ 6,800 45%

A total of 6,500 units were started and 5,900 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 125,500

Conversion costs $ 207,000

The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

The total cost transferred from the first processing department to the next processing

department during the month is closest to: (Round “Cost per equivalent unit” to 3 decimal

places.)

A) $332,500

B) $345,000

C) $322,777

D) $377,485

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133) Annenbaum Corporation uses the weighted-average method in its process costing system.

This month, the beginning inventory in the first processing department consisted of 400 units.

The costs and percentage completion of these units in beginning inventory were:

Cost Percent Complete

Materials costs $ 5,700 65%

Conversion costs $ 6,800 45%

A total of 6,500 units were started and 5,900 units were transferred to the second processing

department during the month. The following costs were incurred in the first processing

department during the month:

Cost

Materials costs $ 125,500

Conversion costs $ 207,000

The ending inventory was 50% complete with respect to materials and 35% complete with

respect to conversion costs.

The cost of ending work in process inventory in the first processing department according to

the company’s cost system is closest to: (Round “Cost per equivalent unit” to 3 decimal

places.)

A) $19,148

B) $22,223

C) $54,708

D) $27,354

134) Haffner 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 $ 7,800

Conversion costs $ 9,100

Percent complete with respect to materials 85%

Percent complete with respect to conversion 55%

Units started into production during the month 7,000

Units transferred to the next department during the month 6,100

Materials costs added during the month $ 102,700

Conversion costs added during the month $ 184,400

Ending work in process inventory:

Units in ending work in process inventory 1,400

Percent complete with respect to materials 60%

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Percent complete with respect to conversion 50%

What are the equivalent units for materials for the month in the first processing department?

A) 840

B) 6,940

C) 7,500

D) 6,100

135) Haffner 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 $ 7,800

Conversion costs $ 9,100

Percent complete with respect to materials 85%

Percent complete with respect to conversion 55%

Units started into production during the month 7,000

Units transferred to the next department during the month 6,100

Materials costs added during the month $ 102,700

Conversion costs added during the month $ 184,400

Ending work in process inventory:

Units in ending work in process inventory 1,400

Percent complete with respect to materials 60%

Percent complete with respect to conversion 50%

What are the equivalent units for conversion costs for the month in the first processing

department?

A) 6,100

B) 700

C) 6,800

D) 7,500

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136) Haffner 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 $ 7,800

Conversion costs $ 9,100

Percent complete with respect to materials 85%

Percent complete with respect to conversion 55%

Units started into production during the month 7,000

Units transferred to the next department during the month 6,100

Materials costs added during the month $ 102,700

Conversion costs added during the month $ 184,400

Ending work in process inventory:

Units in ending work in process inventory 1,400

Percent complete with respect to materials 60%

Percent complete with respect to conversion 50%

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

A) $15.92

B) $14.80

C) $13.69

D) $14.73

137) Haffner 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 $ 7,800

Conversion costs $ 9,100

Percent complete with respect to materials 85%

Percent complete with respect to conversion 55%

Units started into production during the month 7,000

Units transferred to the next department during the month 6,100

Materials costs added during the month $ 102,700

Conversion costs added during the month $ 184,400

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Ending work in process inventory:

Units in ending work in process inventory 1,400

Percent complete with respect to materials 60%

Percent complete with respect to conversion 50%

The cost per equivalent unit for conversion costs for the first department for the month is

closest to:

A) $28.46

B) $25.80

C) $29.88

D) $27.12

138) Haffner 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 $ 7,800

Conversion costs $ 9,100

Percent complete with respect to materials 85%

Percent complete with respect to conversion 55%

Units started into production during the month 7,000

Units transferred to the next department during the month 6,100

Materials costs added during the month $ 102,700

Conversion costs added during the month $ 184,400

Ending work in process inventory:

Units in ending work in process inventory 1,400

Percent complete with respect to materials 60%

Percent complete with respect to conversion 50%

The total cost transferred from the first processing department to the next processing department

during the month is closest to:

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A) $304,000

B) $332,835

C) $270,706

D) $287,100

139) Haffner 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 1,100

Materials costs $ 8,400

Conversion costs $ 9,700

Percent complete with respect to materials 85%

Percent complete with respect to conversion 55%

Units started into production during the month 7,600

Units transferred to the next department during the month 6,700

Materials costs added during the month $ 103,300

Conversion costs added during the month $ 185,000

Ending work in process inventory:

Units in ending work in process inventory 2,000

Percent complete with respect to materials 60%

Percent complete with respect to conversion 50%

The cost of ending work in process inventory in the first processing department according to the

company’s cost system is closest to: (Round “Cost per equivalent unit” to 3 decimal places.)

A) $47,130

B) $42,253

C) $71,981

D) $40,917

140) Haffner 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 $ 7,800

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Conversion costs $ 9,100

Percent complete with respect to materials 85%

Percent complete with respect to conversion 55%

Units started into production during the month 7,000

Units transferred to the next department during the month 6,100

Materials costs added during the month $ 102,700

Conversion costs added during the month $ 184,400

Ending work in process inventory:

Units in ending work in process inventory 1,400

Percent complete with respect to materials 60%

Percent complete with respect to conversion 50%

The cost of ending work in process inventory in the first processing department according to the

company’s cost system is closest to:

A) $37,278

B) $33,294

C) $62,129

D) $31,065

141) Esty Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent

Complete

Materials costs $ 5,800 50%

Conversion costs $ 6,500 30%

A total of 7,700 units were started and 6,600 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 $ 85,300

Conversion costs $ 168,000

The ending inventory was 70% complete with respect to materials and 10% complete with

respect to conversion costs.

What are the equivalent units for conversion costs for the month in the first processing

department?

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A) 6,790

B) 8,500

C) 6,600

D) 190

142) Esty Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent

Complete

Materials costs $ 5,800 50%

Conversion costs $ 6,500 30%

A total of 7,700 units were started and 6,600 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 $ 85,300

Conversion costs $ 168,000

The ending inventory was 70% complete with respect to materials and 10% complete with

respect to conversion costs.

The cost per equivalent unit for materials for the month in the first processing department is

closest to:

A) $10.76

B) $10.04

C) $10.72

D) $11.49

143) Esty Corporation uses the weighted-average method in its process costing system. This

month, the beginning inventory in the first processing department consisted of 800 units. The

costs and percentage completion of these units in beginning inventory were:

Cost Percent

Complete

Materials costs $ 5,800 50%

Conversion costs $ 6,500 30%

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A total of 7,700 units were started and 6,600 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 $ 85,300

Conversion costs $ 168,000

The ending inventory was 70% complete with respect to materials and 10% complete with

respect to conversion costs.

The total cost transferred from the first processing department to the next processing

department during the month is closest to: (Round “Cost per equivalent unit” to 3 decimal

places.)

A) $253,300

B) $245,441

C) $316,098

D) $265,600

144) Kurtulus 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 1,600

Materials costs $ 8,000

Conversion costs $ 3,300

Percent complete with respect to materials 55%

Percent complete with respect to conversion 25%

Units started into production during the month 7,500

Units transferred to the next department during the month 6,700

Materials costs added during the month $ 111,100

Conversion costs added during the month $ 84,200

Ending work in process inventory:

Units in ending work in process inventory 2,400

Percent complete with respect to materials 70%

Percent complete with respect to conversion 55%

The total cost transferred from the first processing department to the next processing department

during the month is closest to: (Round “Cost per equivalent unit” to 3 decimal places.)

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A) $193,610

B) $184,310

C) $168,317

D) $209,300

145) Kurtulus 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 600

Materials costs $ 7,000

Conversion costs $ 2,300

Percent complete with respect to materials 55%

Percent complete with respect to conversion 25%

Units started into production during the month 6,500

Units transferred to the next department during the month 5,700

Materials costs added during the month $ 110,100

Conversion costs added during the month $ 83,200

Ending work in process inventory:

Units in ending work in process inventory 1,400

Percent complete with respect to materials 70%

Percent complete with respect to conversion 55%

The total cost transferred from the first processing department to the next processing department

during the month is closest to: (Round “Cost per equivalent unit” to 3 decimal places.)

A) $202,600

B) $193,300

C) $175,246

D) $218,290

146) Kurtulus 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 1,600

Materials costs $ 8,000

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Conversion costs $ 3,300

Percent complete with respect to materials 55%

Percent complete with respect to conversion 25%

Units started into production during the month 7,500

Units transferred to the next department during the month 6,700

Materials costs added during the month $ 111,100

Conversion costs added during the month $ 84,200

Ending work in process inventory:

Units in ending work in process inventory 2,400

Percent complete with respect to materials 70%

Percent complete with respect to conversion 55%

The cost of ending work in process inventory in the first processing department according to the

company’s cost system is closest to: (Round “Cost per equivalent unit” to 3 decimal places.

Round “Cost of ending work in process inventory” to the nearest whole dollar amount.)

A) $36,644

B) $56,013

C) $43,100

D) $38,277

147) Kurtulus 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 600

Materials costs $ 7,000

Conversion costs $ 2,300

Percent complete with respect to materials 55%

Percent complete with respect to conversion 25%

Units started into production during the month 6,500

Units transferred to the next department during the month 5,700

Materials costs added during the month $ 110,100

Conversion costs added during the month $ 83,200

Ending work in process inventory:

Units in ending work in process inventory 1,400

Percent complete with respect to materials 70%

Percent complete with respect to conversion 55%

The cost of ending work in process inventory in the first processing department according to the

company’s cost system is closest to:

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A) $23,674

B) $43,043

C) $30,130

D) $27,355

148) Bettie Corporation uses a weighted-average process costing system to collect costs

related to production. The following selected information relates to production for October:

Materials Conversion

Units completed and transferred out 50,000 50,000

Equivalent units: work in process, October 31 10,000 4,000

Total equivalent units 60,000 54,000

Materials Conversion

Costs in work in process on October 1 $ 9,000 $ 5,400

Costs added to production during October 243,000 513,000

Total cost $ 252,000 $ 518,400

All materials at Bettie are added at the beginning of the production process.

What total amount of cost should be assigned to the units completed and transferred out during

October?

A) $642,000

B) $677,500

C) $690,000

D) $691,900

149) Bettie Corporation uses a weighted-average process costing system to collect costs

related to production. The following selected information relates to production for October:

Materials Conversion

Units completed and transferred out 50,000 50,000

Equivalent units: work in process, October 31 10,000 4,000

Total equivalent units 60,000 54,000

Materials Conversion

Costs in work in process on October 1 $ 9,000 $ 5,400

Costs added to production during October 243,000 513,000

Total cost $ 252,000 $ 518,400

All materials at Bettie are added at the beginning of the production process.

What total amount of cost should be assigned to the units in work in process on October 31?

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A) $ 78,500

B) $ 80,400

C) $135,500

D) $138,000

150) In June, one of the processing departments at Furbush Corporation had ending work in

process inventory of $13,600. During the month, $420,000 of costs were added to production and

the cost of units transferred out from the department was $442,000.

In the department’s cost reconciliation report for January, the cost of beginning work in process

inventory for the department would be:

A) $35,600

B) $428,400

C) $8,400

D) $406,400

151) In June, one of the processing departments at Furbush Corporation had ending work in

process inventory of $12,000. During the month, $404,000 of costs were added to production and

the cost of units transferred out from the department was $426,000.

In the department’s cost reconciliation report for January, the cost of beginning work in process

inventory for the department would be:

A) $34,000

B) $414,000

C) $10,000

D) $392,000

152) In June, one of the processing departments at Furbush Corporation had ending work in

process inventory of $12,000. During the month, $404,000 of costs were added to production and

the cost of units transferred out from the department was $426,000.

In the department’s cost reconciliation report for June, the total cost accounted for would be:

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A) $876,000

B) $46,000

C) $842,000

D) $438,000

153) In August, one of the processing departments at Tsuzuki Corporation had beginning work

in process inventory of $24,000 and ending work in process inventory of $13,000. During the

month, $283,000 of costs were added to production.

In the department’s cost reconciliation report for August, the cost of units transferred out of the

department would be:

A) $294,000

B) $307,000

C) $281,000

D) $270,000

154) In August, one of the processing departments at Tsuzuki Corporation had beginning work

in process inventory of $26,000 and ending work in process inventory of $15,000. During the

month, $303,000 of costs were added to production.

In the department’s cost reconciliation report for August, the total cost to be accounted for

would be:

A) $41,000

B) $329,000

C) $632,000

D) $658,000

155) In August, one of the processing departments at Tsuzuki Corporation had beginning work

in process inventory of $24,000 and ending work in process inventory of $13,000. During the

month, $283,000 of costs were added to production.

In the department’s cost reconciliation report for August, the total cost to be accounted for

would be:

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A) $37,000

B) $307,000

C) $590,000

D) $614,000

156) In a process costing system, costs are traced directly to jobs.

⊚ true

⊚ false

157) When materials are purchased in a process costing system, a work in process account is

debited with the cost of the materials.

⊚ true

⊚ false

158) In a process costing system, overhead is allocated to departments after being applied to

units of product.

⊚ true

⊚ false

159) In a process costing system, manufacturing overhead cost is also called conversion cost.

⊚ true

⊚ false

160) The units in beginning work in process inventory plus the units started into production

must equal the units transferred out of the department plus the units in ending work in process

inventory.

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⊚ true

⊚ false

161) The following journal entry would be made in a processing costing system when units

that have been completed in the final processing department are transferred to the finished goods

warehouse:

Debit Credit

Finished Goods XXX

Materials XXX

⊚ true

⊚ false

162) The equivalent units in beginning work in process inventory plus the equivalent units in

ending work in process inventory equals the units transferred out plus the equivalent units for the

work done during the period.

⊚ true

⊚ false

163) When all materials are added at the beginning of the production process, under a

weighted-average process costing system the equivalent units for materials is equal to the units

completed and transferred out.

⊚ true

⊚ false

164) In process costing, the equivalent units computed for materials is generally the same as

that computed for conversion costs.

⊚ true

⊚ false

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165) When computing the cost per equivalent unit, it is necessary to consider the percentage

completion of the units in beginning inventory under the weighted-average method.

⊚ true

⊚ false

166) In calculating cost per equivalent unit under the weighted-average method, prior period

costs are combined with current period costs.

⊚ true

⊚ false

167) Under the weighted-average method, the cost of ending work in process inventory is

determined by dividing the equivalent units of production for ending inventory by the cost per

equivalent unit for each cost category and then summing the result.

⊚ true

⊚ false

168) The cost reconciliation report has two sections: “Costs to be accounted for” followed by

“Costs accounted for”. The “Costs accounted for” portion of the cost reconciliation report

includes the cost of ending work in process inventory and the cost of beginning work in process

inventory.

⊚ true

⊚ false

169) The cost reconciliation report has two sections: “Costs to be accounted for” followed by

“Costs accounted for”. The “Costs accounted for” portion of the cost reconciliation report

includes the cost of beginning work in process inventory and the cost of units transferred out.

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⊚ true

⊚ false

170) The cost reconciliation report has two sections: “Costs to be accounted for” followed by

“Costs accounted for”. The “Costs accounted for” portion of the cost reconciliation report

includes the cost of beginning work in process inventory and the costs added during the period.

⊚ true

⊚ false

171) Job-order costing would be more likely to be used than process costing in situations

where many different products or services are produced each period to customer specifications.

⊚ true

⊚ false

172) A job-order costing system would be best suited for production of a large quantity of a

homogeneous product.

⊚ true

⊚ false

173) A flour manufacturer is more likely to use process costing than job-order costing whereas

a manufacturer of customized leather jackets is more likely to use job-order costing than process

costing.

⊚ true

⊚ false

174) Process costing is employed in industries that produce basically homogeneous products

such as bricks, flour, or cement but would not be appropriate for assembly-type operations such

as those that manufacture computers.

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⊚ true

⊚ false

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Answer Key

Test name: chapter 4

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