Question : 70.Rounding often necessary to make the Production Report cumulative cost : 1169269

 

 

70.Rounding is often necessary to make the Production Report cumulative cost total agree to the total costs accounted for. In the following periods, the amount of the adjustment is either added to or subtracted from the _____________ in work in process.   

A. direct materials

 

B. direct labor

 

C. manufacturing overhead

 

D. credit entry

 

 

 

 

71.The current department costs categories are   

A. work in process—beginning costs, started in production costs, and transferred in costs.

 

B. materials costs, labor costs, and manufacturing overhead costs.

 

C. work in process—beginning costs, transferred out to next department costs, and work in process—ending costs.

 

D. started in production costs, transferred in from prior department costs, and transferred out to next department costs.

 

 

 

 

72.When beginning inventory is part of the production report, costs from the prior department are included. They are   

A. the beginning inventory amount and the costs transferred in.

 

B. the beginning inventory amount.

 

C. the costs transferred in.

 

D. the beginning inventory costs transferred in.

 

 

 

 

73.During the month, 1,600 units of a product were completed and 900 units were two-thirds complete with respect material and one-third complete with respect to labor and overhead. After completing equivalent unit cost computations, the company determined material cost was $3.25 and the combined labor and overhead cost was $6.50 per unit. Compute the cost of ending work in process.   

A. $8,775.

 

B. $3,900.

 

C. $4,875.

 

D. $15,600.

 

 

 

74.During the month, 1,600 units of a product were completed and 900 units were two-thirds complete with respect material and one-third complete with respect to labor and overhead. After completing equivalent unit cost computations, the company determined material cost was $3.25 and the combined labor and overhead cost was $6.50 per unit. Compute the cost of completed units.   

A. $15,600.

 

B. $10,400.

 

C. $8,775.

 

D. $6,825.

 

 

 

75.The activity for Noah Company’s mixing department for August is given below. All material is added at the beginning of the process.  Compute the total cost of a completed unit.   

A. $12.50.

 

B. $12.60.

 

C. $11.64.

 

D. $12.00.

 

 

 

76.The activity for Noah Company’s mixing department for August is given below. All material is added at the beginning of the process.  Compute the cost of Noah’s completed units.   

A. $48,000.

 

B. $240,000.

 

C. $576,000.

 

D. $675,000.

 

 

 

77.The activity for Noah Company’s mixing department for August is given below. All material is added at the beginning of the process.  Compute the cost of Noah’s ending work in process inventory.   

A. $49,000.

 

B. $50,000.

 

C. $89,000.

 

D. $99,000.

 

 

 

78.The method that combines the cost of beginning inventory and the current costs of the period is the   

A. market value process costing method.

 

B. method of net realizable value.

 

C. replacement cost method.

 

D. average method of process costing.