Question :
Multiple Choice Questions
40.During one month, 3,000 units of a product : 1169266
Multiple Choice Questions
40.During one month, 3,000 units of a product were completed and 800 units were 20 percent complete and still in process. The equivalent production for the month is
A. 3,800 units.
B. 4,000 units.
C. 3,040 units.
D. 3,160 units.
41.The Finishing department began the period with 3,000 units of a product. During the month, Assembly completed and transferred-out 6,800 units to Finishing. Ending in process quantities and percentage completion for Assembly and Finishing are as follows: 300 units 40 percent complete and 600 units 10 percent complete, respectively. The equivalent production for Assembly and Finishing for the month is:
A. 6,800 assembly and 6,860 finishing units.
B. 7,100 assembly and 9,800 finishing units.
C. 6,800 assembly and 9,260 finishing units.
D. 6,920 assembly and 9,260 finishing units.
42.The ending Work in Process inventory in the mixing department contains 300 units that are 70% complete with respect to labor costs. How many equivalent units are in the ending inventory?
A. 300 units.
B. 140 units.
C. 70 units.
D. 210 units.
43.Process cost accounting is most appropriate
A. when there is continuous production on a single product.
B. when a company produces more than one product in batches rather than on a continuous basis.
C. for companies with either continuous or batch processing of different products.
D. for all manufacturing companies.
44.A firm had 600 units in its work in process inventory at the beginning of a month. Of these units, 30 percent were complete with respect to labor, materials, and overhead. The firm transferred 5,000 units to the finished goods inventory during the month. It had 500 units of which 40 percent were complete and still in process at the end of the month. Equivalent production for the month was
A. 5,680 units.
B. 5,380 units.
C. 5,200 units.
D. 5,180 units.
45.McGill Manufacturing had 900 units in its work in process inventory at the beginning of a month. Of these units, 40 percent were complete with respect to labor, and 100% complete with respect to materials, and overhead. The firm transferred 4,000 units to the finished goods inventory during the month. It had 600 units of which 30 percent were complete and still in process at the end of the month. Equivalent production for the month was
A. 4,600 units.
B. 4,420 units.
C. 4,240 units.
D. 4,180 units.
46.A firm had a beginning work in process inventory totaling $4,000 and current period costs of $22,500. Equivalent production was 5,000 units, and 3,000 units were completed and transferred to the finished goods inventory. Inventory costs would be determined using a unit cost of
A. $8.83.
B. $5.30.
C. $4.50.
D. $7.50.
47.Simon Productions Company had a beginning work in process inventory totaling $6,000. During the current period, the company added materials costs of $12,300, labor cost of $14,500 and overhead of $18,200. Equivalent production was 12,000 units, and 9,000 units were completed and transferred to the finished goods inventory. Inventory costs would be determined using a unit cost of
A. $5.67.
B. $3.75.
C. $4.25.
D. $8.50.
48.A department transferred 7,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 500 units were still in process at the end of the month. Equivalent production for the month was 7,400 units, and production costs incurred totaled $16,800. Inventory costs would be determined using a unit cost of
A. $2.27.
B. $2.40.
C. $2.24.
D. $2.58.
49.The Painting Department transferred 6,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 800 units were still in process at the end of the month, and were 70% complete, and production costs incurred totaled $21,320. Inventory costs would be determined using a unit cost of
A. $3.55.
B. $3.42.
C. $3.25.
D. $3.14.
