84.
The debits to Work–in-Process for Department #2 for the month of April of the current
year, together with information concerning production, are presented below. All direct
materials come from Department #1. The units completed include the 1,200 in process at
the beginning of the period. Department #2 uses FIFO costing.
WORK-IN-PROCESS – DEPARTMENT #2
1,200 units, ¼
completed
$1,200
Product X, 6,200
units
????
From Dept. 1,
6,000 units
3,600
Direct Labor
8,000
Factory OH
4,800
1,000 units, ½
complete
????
85.
The debits to Work–in-Process for Department #2 for the month of April of the current
year, together with information concerning production, are presented below. All direct
materials come from Department #1. The units completed include the 1,200 in process at
the beginning of the period. Department #2 uses FIFO costing.
WORK-IN-PROCESS – DEPARTMENT #2
1,200 units, ¼
completed
$1,200
Product X, 6,200
units
????
From Dept. 1,
6,000 units
3,600
Direct Labor
8,000
Factory OH
4,800
1,000 units, ½
complete
????
86.
The debits to Work–in-Process for Department #2 for the month of April of the current
year, together with information concerning production, are presented below. All direct
materials come from Department #1. The units completed include the 1,200 in process at
the beginning of the period. Department #2 uses FIFO costing.
WORK-IN-PROCESS – DEPARTMENT #2
1,200 units, ¼
completed
$1,200
Product X, 6,200
units
????
From Dept. 1,
6,000 units
3,600
Direct Labor
8,000
Factory OH
4,800
1,000 units, ½
complete
????
87.
The debits to Work–in-Process for Department #2 for the month of April of the current
year, together with information concerning production, are presented below. All direct
materials come from Department #1. The units completed include the 1,200 in process at
the beginning of the period. Department #2 uses FIFO costing.
WORK-IN-PROCESS – DEPARTMENT #2
1,200 units, ¼
completed
$1,200
Product X, 6,200
units
????
From Dept. 1,
6,000 units
3,600
Direct Labor
8,000
Factory OH
4,800
1,000 units, ½
complete
????
88.
The debits to Work–in-Process for Department #2 for the month of April of the current
year, together with information concerning production, are presented below. All direct
materials come from Department #1. The units completed include the 1,200 in process at
the beginning of the period. Department #2 uses FIFO costing.
WORK-IN-PROCESS – DEPARTMENT #2
1,200 units, ¼
completed
$1,200
Product X, 6,200
units
????
From Dept. 1,
6,000 units
3,600
Direct Labor
8,000
Factory OH
4,800
1,000 units, ½
complete
????
89.
The debits to Work–in-Process for Department #2 for the month of April of the current
year, together with information concerning production, are presented below. All direct
materials come from Department #1. The units completed include the 1,200 in process at
the beginning of the period. Department #2 uses FIFO costing.
WORK-IN-PROCESS – DEPARTMENT #2
1,200 units, ¼
completed
$1,200
Product X, 6,200
units
????
From Dept. 1,
6,000 units
3,600
Direct Labor
8,000
Factory OH
4,800
1,000 units, ½
complete
????
90.
In a production cost report using process costing, transferred-in costs are most similar
to:
91.
A process costing system was used for a department that began operations in January
2016. Approximately the same number of physical units, at the same degree of completion,
were in work-in-process at the end of both January and February. Monthly conversion
costs are allocated between ending work–in-process and units completed. Compared to
the FIFO method, would the weighted-average method use the same or a greater number
of equivalent units to calculate the monthly allocations? (CPA adapted)
Equivalent Units for Weighted Average
compared to FIFO
January
February
A.
Same
Same
B.
Greater
Same
C.
Greater
Greater
D.
Same
Greater
92.
Bentley Enterprises uses process costing to control costs in the manufacture of Dust
Sensors for the mining industry. The following information pertains to operations for
November. (CMA Exam adapted)
Units
Work in process, November 1st
16,000
Started in production during November
100,000
Work in process, November 30th
24,000
93.
Bentley Enterprises uses process costing to control costs in the manufacture of Dust
Sensors for the mining industry. The following information pertains to operations for
November. (CMA Exam adapted)
Units
Work in process, November 1st
16,000
Started in production during November
100,000
Work in process, November 30th
24,000
94.
Bentley Enterprises uses process costing to control costs in the manufacture of Dust
Sensors for the mining industry. The following information pertains to operations for
November. (CMA Exam adapted)
Units
Work in process, November 1st
16,000
Started in production during November
100,000
Work in process, November 30th
24,000
95.
Bentley Enterprises uses process costing to control costs in the manufacture of Dust
Sensors for the mining industry. The following information pertains to operations for
November. (CMA Exam adapted)
Units
Work in process, November 1st
16,000
Started in production during November
100,000
Work in process, November 30th
24,000
96.
Bentley Enterprises uses process costing to control costs in the manufacture of Dust
Sensors for the mining industry. The following information pertains to operations for
November. (CMA Exam adapted)
Units
Work in process, November 1st
16,000
Started in production during November
100,000
Work in process, November 30th
24,000
97.
Bentley Enterprises uses process costing to control costs in the manufacture of Dust
Sensors for the mining industry. The following information pertains to operations for
November. (CMA Exam adapted)
Units
Work in process, November 1st
16,000
Started in production during November
100,000
Work in process, November 30th
24,000
98.
A process costing system:
99.
100.
101.
102.
103.
Operations costing systems are used when the products have: