Chapter 4 Hw - Manufacturing And Costs Accounting Study Guide And Past Exam PDF

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Chapter 4 homework...

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The Assembly Department started the month with 25,700 units in its beginning work in process inventory. An additional 310,700 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 30,700 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?

✓



336,400



367,100



305,700



315,700

Units completed and transferred out = Units in beginning work in process inventory + Units started into production or transferred in – Units in ending work in process inventory Units completed and transferred out = 25,700 + 310,700 – 30,700 = 305,700 References Multiple Choice

Difficulty: 1 Easy

Learning Objective: 04-01 Record the flow of materials, labor, and overhead through a process costing system.

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100

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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?

✓



39,900



99,100



57,120



60,900

Weighted-average method Units transferred to the next department = Units in beginning work in process + Units started into production – Units in ending work in process = 5,400 + 69,500 – 35,000 = 39,900   Units transferred to the next department Ending work in process: Conversion: 35,000 units × 60% Equivalent units of production

Conversion  39,900  

 21,000 60,900 

 References Multiple Choice

Difficulty: 2 Medium

Learning Objective: 04-02 Compute the equivalent units of production using the weighted-average method.

3.

Award: 0.01 out of 0.01 points

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Darden Corporation uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 19,800 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 $20,700. An additional 93,000 units were started into production during the month. There were 26,000 units in the ending work in process inventory of the Welding Department that were 70% complete with respect to conversion costs. A total of $845,880 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:

✓



$10.086



$10.800



$8.253



$9.981

Weighted-average method Units transferred to the next department = Units in beginning work in process + Units started into production – Units in ending work in process Units transferred to the next department = 19,800 + 93,000 – 26,000 = 86,800   Units transferred to the next department Ending work in process: Conversion: 26,000 units × 70% Equivalent units of production

Conversion  86,800  

18,200 105,000

 

  Cost of beginning work in process inventory Costs added during the period Total cost (a) Equivalent units of production (b) Cost per equivalent unit (a) ÷ (b)

References Multiple Choice

Learning Objective: 04-02 Compute the equivalent units of production using the weighted-average method.

$  $  $

Conversion 20,700 845,880  866,580  105,000 8.253

Score:

4.

Award: 0.01 out of 0.01 points

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Points

100

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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  5,500  59,400  57,200  7,700

Beginning work in process inventory Transferred in from the prior department during January Completed and transferred to the next department during January Ending work in process inventory

Percent Complete with Respect to Conversion    70%            40%

 The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $34,958 and a total of $559,654 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:

✓



$9.543



$9.864



$9.744



$8.499

Weighted-average method  Units transferred to the next department Ending work in process: Conversion: 7,700 units × 40% Equivalent units of production

Conversion  57,200  

3,080 60,280

 

  Cost of beginning work in process inventory Costs added during the period Total cost (a) Equivalent units of production (b) Cost per equivalent unit (a) ÷ (b)

References Multiple Choice

Learning Objective: 04-02 Compute the equivalent units of production using the weighted-average method.

Difficulty: 2 Medium

Learning Objective: 04-03 Compute the cost per equivalent unit using the weighted-average method.

Conversion $ 34,958  559,654  $ 594,612   60,280 $ 9.864

5.

Award: 0.01 out of 0.01 points

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Hache Corporation uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 17,100 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 $7,560. An additional 89,200 units were started into production during the month and 92,200 units were completed in the Welding Department and transferred to the next processing department. There were 14,100 units in the ending work in process inventory of the Welding Department that were 90% complete with respect to conversion costs. A total of $202,600 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:

✓



$1.975



$2.210



$2.004



$2.284

Weighted-average method   Units transferred to the next department Ending work in process: Conversion: 14,100 units × 90% Equivalent units of production

Conversion  92,200  

12,690 104,890

 

  Cost of beginning work in process inventory Costs added during the period Total cost (a) Equivalent units of production (b) Cost per equivalent unit (a) ÷ (b)

References Multiple Choice

Learning Objective: 04-02 Compute the equivalent units of production using the weighted-average method.

Difficulty: 2 Medium

Learning Objective: 04-03 Compute the cost per equivalent unit using the weighted-average method.

Conversion $ 7,560  202,600  $ 210,160   104,890 $ 2.004

Score:

6.

Award: 0.01 out of 0.01 points

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Points

100

% 

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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 18,800 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 $2.95 for materials and $4.45 for labor and overhead, the total cost assigned to the ending work in process inventory was:

✓



$139,120



$83,472



$88,924



$105,656

Weighted-average method  

 Labor and Overhead Materials        18,800          11,280  18,800    11,280

Ending work in process: Materials: 18,800 units × 100% Conversion: 18,800 units × 60% Equivalent units of production in ending work in process

 

 

Materials Ending work in process inventory: Equivalent units of production (a) Cost per equivalent unit (b) Cost of ending work in process inventory (a) × (b)



References Multiple Choice

Learning Objective: 04-02 Compute the equivalent units of production using the weighted-average method.

Difficulty: 1 Easy

Learning Objective: 04-04 Assign costs to units using the weighted-average method.

   18,800 $ 2.95 $ 55,460

    

   

Labor and Overhead    11,280 $ 4.45 $ 50,196



Total

             $ 105,656 

Score:

7.

Award: 0.01 out of 0.01 points

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Points

100

% 

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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.  



Beginning work in process inventory Transferred in from the prior department during March Ending work in process inventory

  

Units 7,100 62,400 10,600

Percent Complete with Respect to Conversion    20%         60%

 The Fitting Department’s cost per equivalent unit for conversion cost for March was $6.16. How much conversion cost was assigned to the units transferred out of the Fitting Department during March? ✓



$362,824



$428,120



$328,026



$384,384

Weighted-average method  Units transferred to the next department = Units in beginning work in process + Units started into production – Units in ending work in process = 7,100 + 62,400 – 10,600 = 58,900   Units completed and transferred out: Units transferred to the next department (a) Cost per equivalent unit (b) Cost of units completed and transferred out (a) × (b)

Conversion    58,900 $ 6.16 $ 362,824

  

 References Multiple Choice

Difficulty: 2 Medium

Learning Objective: 04-04 Assign costs to units using the weighted-average method.

Score:

8.

1/1

Points

100

% 



Award: 0.01 out of 0.01 points

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.  

 Beginning work in process inventory Transferred in from the prior department during January Completed and transferred to the next department during January Ending work in process inventory

   

Units 8,300 70,000 69,800 8,500

   

   

Percent Complete with Respect to Conversion  10%       80%



 The Molding Department’s cost per equivalent unit for conversion cost for January was $3.25. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January?

✓



$22,112.70



$27,625.00



$22,100.00



$5,525.00

Weighted-average method  

Conversion     6,800  6,800 

Ending work in process: Conversion: 8,500 units × 80% Equivalent units of production in ending work in process inventory

  Ending work in process inventory: Equivalent units of production (a) Cost per equivalent unit (b) Cost of ending work in process inventory (a) × (b)

References Multiple Choice

Learning Objective: 04-02 Compute the equivalent units of production using the weightedaverage method.

Difficulty: 1 Easy

Learning Objective: 04-04 Assign costs to units using the weighted-average method.

Conversion    6,800  $ 3.25  $ 22,100.00 

Score:

9.

Award: 0.01 out of 0.01 points

1/1

Points

100

% 

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Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 16,500 units, 100% complete with respect to materials cost and 40% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $24,600. A total of 50,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.30 for materials and $3.00 for conversion costs. The total cost of the units completed and transferred out of the department was: ✓



$215,000



$206,150



$155,000



$184,700

Weighted-average method  

Materials Units completed and transferred out: Units transferred to the next department (a) Cost per equivalent unit (b) Cost of units completed and transferred out (a) × (b)

  $ $

 50,000 1.30 65,000

    

Conversion      50,000  $ 3.00  $ 150,000



References Multiple Choice

Difficulty: 2 Medium

Learning Objective: 04-04 Assign costs to units using the weighted-average method.

     

Total    $

   215,000

 

Score:

10.

Award: 0.01 out of 0.01 points

1/1

Points

100

% 



Vallin Manufacturing Corporation’s beginning work in process inventory consisted of 9,600 units, 100% complete with respect to materials cost and 60% complete with respect to conversion costs. The total cost in the beginning inventory was $52,000. During the month, 56,000 units were transferred out. The equivalent unit cost was computed to be $4.10 for materials and $4.60 for conversion costs under the weighted-average method. Given this information, the total cost of the units completed and transferred out was:

✓



$416,000



$345,600



$487,200



$344,000

Weighted-average method  

Materials Units completed and transferred out: Units transferred to the next department (a) Cost per equivalent unit (b) Cost of units completed and transferred out (a) × (b)

  $ $

 56,000 4.10 229,600

 Conversion        56,000   $ 4.60   $ 257,600

 References Multiple Choice

Difficulty: 2 Medium

Learning Objective: 04-04 Assign costs to units using the weighted-average method.

         $

Total      487,200

Score:

11.

Award: 0.01 out of 0.01 points

1/1

Points

100

% 



Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 2,500 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 $9,300. During the period, 8,500 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $4.50 for material and $5.50 for conversion costs. The cost of units transferred out during the month was:

✓



$46,750



$64,200



$85,000



$81,800

Weighted-average method  Units completed and transferred out: Units transferred to the next department (a) Cost per equivalent unit (b) Cost of units completed and transferred out (a) × (b)

Materials    8,500 $ 4.50 $ 38,250

    

Conversion      8,500  $ 5.50  $ 46,750



 References Multiple Choice

Difficulty: 1 Easy

Learning Objective: 04-04 Assign costs to units using the weighted-average method.

 Total              $ 85,000 

1/1

Score:

12.

Award: 0.01 out of 0.01 points

Points

100

% 



In July, one of the processing departments at Okamura Corporation had beginning work in process inventory of $14,000 and ending work in process inventory of $19,000. During the month, the cost of units transferred out from the department was $149,000. In the department's cost reconciliation report for July, the total cost to be accounted for under the weighted-average method would be:

✓



$33,000



$120,000



$133,000



$168,000

Weighted-average method   Costs to be accounted for as follows: Cost of ending work in process inventory Cost of units transferred out Total cost accounted for

 $ 

 19,000 149,000 

$

168,000

References Multiple Choice

Difficulty: 1 Easy

Learning Objective: 04-05 Prepare a cost reconciliation report using the weightedaverage method.



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Score:

13.

Award: 0.01 out of 0.01 points

Points

100

% 

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In April, one of the processing departments at Terada Corporation had beginning work in process inventory of $23,000 and ending work in process inventory of $29,000. During the month, $246,000 of costs were added to production and the cost of units transferred out from the department was $240,000. In the department's cost rec...