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33.
Of the following process costing steps, which must be done last?
34.
The Phantom Corporation started and completed 4,800 units during February. Phantom
started the month with 700 units in process (40% complete) and ended the month with
400 units in process (40% complete). How many units were transferred to the Finished
Goods Inventory during February?
35.
If the units in the beginning Work-in-Process Inventory are greater than the units in the
ending Work-in-Process Inventory, then the units transferred out are:
36.
37.
38.
The weighted-average method of process costing differs from the FIFO method of process
costing in that the weighted-average method:
39.
40.
41.
42.
Haberdashery Company has a beginning Work-in-Process Inventory of 25,000 units (40%
complete). During the period, 110,000 units were started and the ending Work-in-Process
Inventory consisted of 20,000 units (80%). What are the equivalent units for conversion
costs using weighted-average process costing?
43.
Seaside Company uses the weighted-average method in its process costing system. The
Sanding Department started the month with 8,000 units in its beginning work-in-process
inventory that were 70% complete with respect to conversion costs. An additional 69,000
units were transferred in from the prior department during the month to begin processing
in the Sanding Department. There were 5,000 units in the ending work-in-process
inventory of the Sanding Department that were 20% complete with respect to conversion
costs.
What were the equivalent units for conversion costs in the Sanding Department for the
month?
44.
The Marshall Company has a process cost system. All materials are added when the
process is first begun. At the beginning of September, there were no units of product in
process. During September 50,000 units were started; 5,000 of these were still in process
at the end of September and were 3/5 finished. The equivalent units of material in
September were:
45.
The Chart Company has a process cost system. All materials are added when the process
is first begun. At the beginning of September, there were no units of product in process.
During September 50,000 units were started; 5,000 of these were still in process at the
end of September and were 3/5 finished. The equivalent units for the conversion costs in
September were:
46.
47.
Madison Corporation's production cycle starts in the Processing Department. The
following information is available for April:
Units
Work-in-process, April 1 (25% complete)
40,000
Total units in process during April
280,000
Work-in-process, April 30 (60%
complete)
25,000
Materials are added at the beginning of the process in the Processing Department. What
are the equivalent units of production for the month of April, assuming Madison uses the
weighted-average method?
Materials
Conversion Costs
A.
240,000
260,000
B.
255,000
235,000
C.
280,000
270,000
D.
315,000
285,000
48.
Department A had no Work-in-Process at the beginning of the period, 1,000 units were
completed during the period, 200 units were 50% completed at the end of the period, and
the following manufacturing costs were debited to the departmental Work-in-Process
account during the period:
Direct materials (1,200 at $10)
$12,000
Direct labor
5,500
Factory overhead
4,400
49.
50.
In a process costing system, manufacturing overhead applied is usually recorded as a
debit to:
51.
The Lakeside Company uses a weighted-average process costing system. The following
data are available:
Beginning inventory
-0-
Units started in production
20,000
Units finished during the period
16,000
Units in process at the end of the period
(complete as to materials, ¼ complete
as to labor and overhead)
4,000
Cost of materials used
$35,200
Labor and overhead costs
$37,400
Equivalent units of production for material are:
52.
The Lakeside Company uses a weighted-average process costing system. The following
data are available:
Beginning inventory
-0-
Units started in production
20,000
Units finished during the period
16,000
Units in process at the end of the period
(complete as to materials, ¼ complete
as to labor and overhead)
4,000
Cost of materials used
$35,200
Labor and overhead costs
$37,400
Equivalent units of production for labor and overhead are:
53.
The Lakeside Company uses a weighted-average process costing system. The following
data are available:
Beginning inventory
-0-
Units started in production
20,000
Units finished during the period
16,000
Units in process at the end of the period
(complete as to materials, ¼ complete
as to labor and overhead)
4,000
Cost of materials used
$35,200
Labor and overhead costs
$37,400
Unit cost of material is:
