Acc3365 (ch 17)
35. In the computation of the cost per equivalent unit, the weighted-average method of process costing considers a. all the costs entering work in process from the units in beginning inventory plus the costs for the work completed during the current accounting period. b. all the costs that have entered work in process from the units started or transferred in during the current accounting period. c. all the costs that have entered work in process during the current accounting period from the units started or transferred in minus the costs associated with ending inventory. d. all the costs that have entered work in process during the current accounting period from the units started or transferred in plus the costs associated with ending inventory.
Answer: a
31 What is the unit cost per equivalent unit in Department A? a. $1,000 b. $1,750 c. $3,500 d. $3,750
Answer: b
48. A distinct feature of the FIFO process-costing method is that a. the work done on beginning inventory before the current period is blended in with the work done during the current period in the calculation of equivalent units. b. the work done on beginning inventory before the current period is kept separate from the work done during the current period in the calculation of equivalent units. c. the work done on ending inventory is kept separate from the work done during the current period in the calculation of equivalent units and is usually not included in the calculation. d. the FIFO process-costing method is only minimally different from the weighted-average process-costing method.
Answer: b
28. The purpose of the equivalent-unit computation is a. to convert completed units into the amount of partially completed output units that could be made with that quantity of input. b. to assist the business in determining ending inventory. c. to convert partially completed units into the amount of completed output units that could be made with that quantity of input. d. both (b) and (c).
Answer: c
30. When a bakery transfers goods from the Baking Department to the Decorating Department, the accounting entry is a. Work in Process - Baking Department Work in Process - Decorating Department b. Work in Process - Decorating Department Accounts Payable c. Work in Process - Decorating Department Work in Process - Baking Department d. Work in Process - Baking Department Accounts Payable
Answer: c
32. How many units were completed and transferred out of Department A during February? a. 100 units b. 600 units c. 700 units d. 800 units
Answer: c
29. In a process-costing system, the calculation of equivalent units is used for a. calculating the dollar amount of ending inventory. b. calculating the dollar amount of the cost of goods sold for the accounting period. c. calculating the dollar cost of a particular job. d. both (a) and (b).
Answer: d
34. The weighted-average process-costing method calculates the equivalent units by a. considering only the work done during the current period. b. the units started during the current period minus the units in ending inventory. c. the units started during the current period plus the units in ending inventory. d. the equivalent units completed during the current period plus the equivalent units in ending inventory.
Answer: d
36. If there was no beginning work in process and no ending work in process under the weighted-average process costing method, the number of equivalent units for direct materials, if direct materials were added at the start of the process, would be a. equal to the units started or transferred in. b. equal to the units completed. c. less than the units completed. d. both (a) and (b).
Answer: d