Question :
During May, the number of equivalent full units of materials : 1229527
During May, the number of equivalent full units of materials applied to units produced by Department Q totaled 48,000, computed as follows: beginning inventory, 6,000 equivalent full units; units started and completed in May, 34,000 equivalent full units; and ending inventory, 7,680 equivalent full units.
63. Assuming that the cost of direct materials used by Department Q in May was $440,000, the materials cost assigned to unfinished units at May 31 would be:
A. $55,000.
B. $26,400.
C. $70,400.
D. Impossible to determine unless we know the percentage of completion for ending inventory units.
64. On the basis of this information only:
A. The number of units transferred in May from Department Q to the next process or department was 34,000.
B. There were more units in Department Q’s ending inventory than in Department Q’s beginning inventory for May.
C. Department Q completed 48,000 units of product during May.
D. Department Q used enough materials during May to produce 48,000 completed units.
65. During August, Department Z started and completed 90,000 units and also finished 18,000 units that were 75% completed on July 31. On August 31, Department Z’s ending inventory consisted of 26,000 units that were 45% completed. All manufacturing costs are incurred at a uniform rate throughout Department Z’s production process. The number of equivalent full units of production for Department Z during August is:
A. 106,200.
B. 90,000.
C. 94,500.
D. 117,800.
66. How many units were started in June?
A. 92,000.
B. 60,000.
C. 160,000.
D. 110,000.
67. What are the equivalent units for materials?
A. 92,000.
B. 60,000.
C. 160,000.
D. 110,000.
68. What are the equivalent units for direct labor and overhead?
A. 140,000.
B. 80,000.
C. 160,000.
D. 130,000.
69. Refer to information above. If direct labor and overhead costs totaled $172,000, what would be the unit cost?
A. $1.23.
B. $1.08.
C. $1.56.
D. $3.44.
70. If beginning inventory in Work in Process is zero and 2,000 units are started during the period, assuming that 300 units remain in ending inventory, how many equivalent units were completed and transferred out?
A. 2,000.
B. 285.
C. 300.
D. 1,700.
71. If beginning inventory in Work in Process is zero and 2,000 units are started during the period, assuming that 1,700 units were completed and transferred out, how many units remain in ending inventory?
A. 2,000.
B. 285.
C. 300.
D. 1,700.
72. During the month of June, $352,150 of costs were transferred from Department A to Department B. The journal entry to summarize the transfer of these costs includes:
A. A debit to department A for $352,150.
B. A credit to department B for $352,150.
C. A credit to department A for $352,150.
D. No entry is required when costs are transferred between departments.
73. During the month of August, $582,000 of costs were transferred from the Mixing Department to the Baking Department. The journal entry to summarize the transfer of these costs includes:
A. A debit to the Mixing department for $582,000.
B. A debit to the Baking department for $582,000.
C. A credit to the Baking department for $582,000.
D. A debit to Finished Goods Inventory.
74. For the month of December, its first month of operations, the Radcliffe Corporation completed and transferred 800 units of product costing $80,000 to produce to Finished Goods Inventory. If Radcliffe sold 650 units during the same month, how much was cost of goods sold for the same period?
A. $80,000.
B. $8,000.
C. $6,500.
D. $65,000.
75. In evaluating the efficiency of a production department, management should:
A. Consider all costs of production across departments.
B. Consider that department activities only.
C. Consider all corporate-wide period costs.
D. Compare the costs of production across departments.
76. To identify the cause of a change in a product total unit cost, management may:
A. Compute per unit product cost in total.
B. Compute per unit total cost.
C. Compute per unit product cost for each individual production department.
D. Compare prior period to current period per unit product cost in total.
