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Edwards Company produces calendars in a one-department process. The following information is available: Edwards Company produces calendars in a one-department process. The following information is available: The units still in process are 100 percent complete with respect to direct materials and 60 percent complete with respect to conversion costs. -In a production-cost report, the total costs accounted for is equal to the cost of units completed and transferred plus the cost of A) beginning work-in-process. B) the units started and finished. C) the units completed but still on hand. D) ending work-in-process. The units still in process are 100 percent complete with respect to direct materials and 60 percent complete with respect to conversion costs. -In a production-cost report, the total costs accounted for is equal to the cost of units completed and transferred plus the cost of


A) beginning work-in-process.
B) the units started and finished.
C) the units completed but still on hand.
D) ending work-in-process.

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Chen Company manufactures keyboards in a two-department process, Assembly and Finishing. Information on the first department, Assembly, follows: Chen Company manufactures keyboards in a two-department process, Assembly and Finishing. Information on the first department, Assembly, follows: There was no beginning inventory, and of the 200,000 units started in production 168,000 were completed and transferred to the Finishing department, while 32,000 units were still in process. These units had all materials added but were only 75 percent complete as far as conversion costs. -The total cost of ending work-in-process inventory is A) $352,000. B) $292,000. C) $264,000. D) $240,000. There was no beginning inventory, and of the 200,000 units started in production 168,000 were completed and transferred to the Finishing department, while 32,000 units were still in process. These units had all materials added but were only 75 percent complete as far as conversion costs. -The total cost of ending work-in-process inventory is


A) $352,000.
B) $292,000.
C) $264,000.
D) $240,000.

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The manufacturing costs of the Assembly department for the month of June are as follows: The manufacturing costs of the Assembly department for the month of June are as follows: The cost of goods completed and transferred to finished goods was $231,500 in June. Required: Prepare summary journal entries for the use of direct materials, direct labour and factory overhead applied. Also prepare a journal entry for the transfer of goods completed. The cost of goods completed and transferred to finished goods was $231,500 in June. Required: Prepare summary journal entries for the use of direct materials, direct labour and factory overhead applied. Also prepare a journal entry for the transfer of goods completed.

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Chen Company manufactures keyboards in a two-department process, Assembly and Finishing. Information on the first department, Assembly, follows: Chen Company manufactures keyboards in a two-department process, Assembly and Finishing. Information on the first department, Assembly, follows: There was no beginning inventory, and of the 200,000 units started in production 168,000 were completed and transferred to the Finishing department, while 32,000 units were still in process. These units had all materials added but were only 75 percent complete as far as conversion costs. -The total cost of units completed and transferred to Finishing is A) $2,112,000. B) $2,140,000. C) $1,848,000. D) $352,000. There was no beginning inventory, and of the 200,000 units started in production 168,000 were completed and transferred to the Finishing department, while 32,000 units were still in process. These units had all materials added but were only 75 percent complete as far as conversion costs. -The total cost of units completed and transferred to Finishing is


A) $2,112,000.
B) $2,140,000.
C) $1,848,000.
D) $352,000.

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The system, which applies costs to like products that are usually mass-produced in continuous fashion through a series of production processes, is known as


A) process costing.
B) variable costing.
C) job-order costing.
D) JIT costing.

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Edwards Company produces calendars in a one-department process. The following information is available: Edwards Company produces calendars in a one-department process. The following information is available: The units still in process are 100 percent complete with respect to direct materials and 60 percent complete with respect to conversion costs. -The total cost of units completed and transferred is A) $45,120. B) $244,200. C) $204,000. D) $228,000. The units still in process are 100 percent complete with respect to direct materials and 60 percent complete with respect to conversion costs. -The total cost of units completed and transferred is


A) $45,120.
B) $244,200.
C) $204,000.
D) $228,000.

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A method of process manufacturing in which units flow from one process to another in a sequential pattern.

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Sequential...

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Adams Inc. manufactures a product that passes through two processes: assembly and finishing. All manufacturing costs are added uniformly for both processes. Information for the assembly department for the month of November follows. Adams Inc. manufactures a product that passes through two processes: assembly and finishing. All manufacturing costs are added uniformly for both processes. Information for the assembly department for the month of November follows. During November, 20,000 units were completed and transferred to the finishing department. The following costs were incurred by the assembly department during November. At the end of November 30, 2,000 units that were 60% complete remained in assembly. Prepare the cost of production report for assembly for November using the weighted average method. During November, 20,000 units were completed and transferred to the finishing department. The following costs were incurred by the assembly department during November. Adams Inc. manufactures a product that passes through two processes: assembly and finishing. All manufacturing costs are added uniformly for both processes. Information for the assembly department for the month of November follows. During November, 20,000 units were completed and transferred to the finishing department. The following costs were incurred by the assembly department during November. At the end of November 30, 2,000 units that were 60% complete remained in assembly. Prepare the cost of production report for assembly for November using the weighted average method. At the end of November 30, 2,000 units that were 60% complete remained in assembly. Prepare the cost of production report for assembly for November using the weighted average method.

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The following information pertains to the mixing department of Carson Company for September 2006: The following information pertains to the mixing department of Carson Company for September 2006: The costs of work-in-process at September 1 for the mixing department were as follows: Costs added by the mixing department during September were as follows: Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -The unit cost for materials is A) $5.69. B) $7.07. C) $7.23. D) $7.51. The following information pertains to the mixing department of Carson Company for September 2006: The costs of work-in-process at September 1 for the mixing department were as follows: Costs added by the mixing department during September were as follows: Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -The unit cost for materials is A) $5.69. B) $7.07. C) $7.23. D) $7.51. The costs of work-in-process at September 1 for the mixing department were as follows: The following information pertains to the mixing department of Carson Company for September 2006: The costs of work-in-process at September 1 for the mixing department were as follows: Costs added by the mixing department during September were as follows: Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -The unit cost for materials is A) $5.69. B) $7.07. C) $7.23. D) $7.51. Costs added by the mixing department during September were as follows: The following information pertains to the mixing department of Carson Company for September 2006: The costs of work-in-process at September 1 for the mixing department were as follows: Costs added by the mixing department during September were as follows: Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -The unit cost for materials is A) $5.69. B) $7.07. C) $7.23. D) $7.51. Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -The unit cost for materials is


A) $5.69.
B) $7.07.
C) $7.23.
D) $7.51.

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In backflush costing, the journal entry to record the costs of completed production would include a


A) debit to Conversion Costs.
B) credit to Accounts Payable.
C) debit to Finished Goods Inventory.
D) credit to Work-in-process.

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Ankenbauer Company manufactures keyboards in a two-department process, Assembly and Finishing. Information on the first department, Assembly, follows: Ankenbauer Company manufactures keyboards in a two-department process, Assembly and Finishing. Information on the first department, Assembly, follows: There was no beginning inventory, and of the 400,000 units started in production 336,000 were completed and transferred to the Finishing department, while 64,000 units were still in process. These units had all materials added but were only 75 percent complete as far as conversion costs. -The unit cost of direct materials is A) $3.50. B) $4.17. C) $3.65. D) $0.29. There was no beginning inventory, and of the 400,000 units started in production 336,000 were completed and transferred to the Finishing department, while 64,000 units were still in process. These units had all materials added but were only 75 percent complete as far as conversion costs. -The unit cost of direct materials is


A) $3.50.
B) $4.17.
C) $3.65.
D) $0.29.

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Kirkpatrick Company uses a process-cost system with the FIFO method of accounting for beginning inventories. Materials are added at the beginning of the process, and conversion costs are incurred uniformly. Work-in-process at the beginning is assumed to be 40 percent complete and at the end to be 70 percent complete. Additional data follow: Kirkpatrick Company uses a process-cost system with the FIFO method of accounting for beginning inventories. Materials are added at the beginning of the process, and conversion costs are incurred uniformly. Work-in-process at the beginning is assumed to be 40 percent complete and at the end to be 70 percent complete. Additional data follow: -The total cost of the units completed and transferred is A) $295,920. B) $306,840. C) $289,200. D) $298,840. -The total cost of the units completed and transferred is


A) $295,920.
B) $306,840.
C) $289,200.
D) $298,840.

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Fan Corporation manufactures snowboards. Material is introduced at the beginning of the process in the Assembly department. Conversion costs are applied uniformly throughout the process. The weighted-average method of product costing is used. Data for the Assembly department for the month of April, 20X1 follow: Work-in-process, April 1. Fan Corporation manufactures snowboards. Material is introduced at the beginning of the process in the Assembly department. Conversion costs are applied uniformly throughout the process. The weighted-average method of product costing is used. Data for the Assembly department for the month of April, 20X1 follow: Work-in-process, April 1. -The equivalent units for conversion costs are A) 200,000. B) 185,600. C) 176,600. D) 164,000. Fan Corporation manufactures snowboards. Material is introduced at the beginning of the process in the Assembly department. Conversion costs are applied uniformly throughout the process. The weighted-average method of product costing is used. Data for the Assembly department for the month of April, 20X1 follow: Work-in-process, April 1. -The equivalent units for conversion costs are A) 200,000. B) 185,600. C) 176,600. D) 164,000. Fan Corporation manufactures snowboards. Material is introduced at the beginning of the process in the Assembly department. Conversion costs are applied uniformly throughout the process. The weighted-average method of product costing is used. Data for the Assembly department for the month of April, 20X1 follow: Work-in-process, April 1. -The equivalent units for conversion costs are A) 200,000. B) 185,600. C) 176,600. D) 164,000. -The equivalent units for conversion costs are


A) 200,000.
B) 185,600.
C) 176,600.
D) 164,000.

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Unlike job-order costing, process costing requires only one work-in-process account.

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The following information pertains to the mixing department of Carson Company for September 2006: The following information pertains to the mixing department of Carson Company for September 2006: The costs of work-in-process at September 1 for the mixing department were as follows: Costs added by the mixing department during September were as follows: Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -The unit cost for conversion costs is A) $4.23. B) $5.94. C) $6.26. D) $6.47. The following information pertains to the mixing department of Carson Company for September 2006: The costs of work-in-process at September 1 for the mixing department were as follows: Costs added by the mixing department during September were as follows: Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -The unit cost for conversion costs is A) $4.23. B) $5.94. C) $6.26. D) $6.47. The costs of work-in-process at September 1 for the mixing department were as follows: The following information pertains to the mixing department of Carson Company for September 2006: The costs of work-in-process at September 1 for the mixing department were as follows: Costs added by the mixing department during September were as follows: Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -The unit cost for conversion costs is A) $4.23. B) $5.94. C) $6.26. D) $6.47. Costs added by the mixing department during September were as follows: The following information pertains to the mixing department of Carson Company for September 2006: The costs of work-in-process at September 1 for the mixing department were as follows: Costs added by the mixing department during September were as follows: Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -The unit cost for conversion costs is A) $4.23. B) $5.94. C) $6.26. D) $6.47. Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -The unit cost for conversion costs is


A) $4.23.
B) $5.94.
C) $6.26.
D) $6.47.

Correct Answer

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Kirkpatrick Company uses a process-cost system with the FIFO method of accounting for beginning inventories. Materials are added at the beginning of the process, and conversion costs are incurred uniformly. Work-in-process at the beginning is assumed to be 40 percent complete and at the end to be 70 percent complete. Additional data follow: Kirkpatrick Company uses a process-cost system with the FIFO method of accounting for beginning inventories. Materials are added at the beginning of the process, and conversion costs are incurred uniformly. Work-in-process at the beginning is assumed to be 40 percent complete and at the end to be 70 percent complete. Additional data follow: -The total cost of the units still in process is A) $52,080. B) $58,800. C) $41,160. D) $49,160. -The total cost of the units still in process is


A) $52,080.
B) $58,800.
C) $41,160.
D) $49,160.

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Edwards Company produces calendars in a one-department process. The following information is available: Edwards Company produces calendars in a one-department process. The following information is available: The units still in process are 100 percent complete with respect to direct materials and 60 percent complete with respect to conversion costs. -The equivalent units for materials are A) 24,000. B) 30,000. C) 27,600. D) 6,000. The units still in process are 100 percent complete with respect to direct materials and 60 percent complete with respect to conversion costs. -The equivalent units for materials are


A) 24,000.
B) 30,000.
C) 27,600.
D) 6,000.

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The last step in preparing a production-cost report is to determine equivalent units.

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Edwards Company produces calendars in a one-department process. The following information is available: Edwards Company produces calendars in a one-department process. The following information is available: The units still in process are 100 percent complete with respect to direct materials and 60 percent complete with respect to conversion costs. -What is the unit cost of conversion costs? A) $ .88 B) $5.18 C) $4.14 D) $4.50 The units still in process are 100 percent complete with respect to direct materials and 60 percent complete with respect to conversion costs. -What is the unit cost of conversion costs?


A) $ .88
B) $5.18
C) $4.14
D) $4.50

Correct Answer

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The following information pertains to the mixing department of Carson Company for September 2006: The following information pertains to the mixing department of Carson Company for September 2006: The costs of work-in-process at September 1 for the mixing department were as follows: Costs added by the mixing department during September were as follows: Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -Cost of ending work-in-process is A) $77,640. B) $82,632. C) $85,128. D) $90,120. The following information pertains to the mixing department of Carson Company for September 2006: The costs of work-in-process at September 1 for the mixing department were as follows: Costs added by the mixing department during September were as follows: Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -Cost of ending work-in-process is A) $77,640. B) $82,632. C) $85,128. D) $90,120. The costs of work-in-process at September 1 for the mixing department were as follows: The following information pertains to the mixing department of Carson Company for September 2006: The costs of work-in-process at September 1 for the mixing department were as follows: Costs added by the mixing department during September were as follows: Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -Cost of ending work-in-process is A) $77,640. B) $82,632. C) $85,128. D) $90,120. Costs added by the mixing department during September were as follows: The following information pertains to the mixing department of Carson Company for September 2006: The costs of work-in-process at September 1 for the mixing department were as follows: Costs added by the mixing department during September were as follows: Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -Cost of ending work-in-process is A) $77,640. B) $82,632. C) $85,128. D) $90,120. Using the above information and the weighted average method, answer the following items regarding the mixing department for September 2006. -Cost of ending work-in-process is


A) $77,640.
B) $82,632.
C) $85,128.
D) $90,120.

Correct Answer

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