Question :
41. During the month, 2,700 units of a product were completed : 1197774
41. During the month, 2,700 units of a product were completed and 800 units were 60% complete with respect to labor and still in process. The total equivalent units of production for labor for the month is
A. 2,700 units.
B. 2,400 units.
C. 3,180 units.
D. 4,320 units.
2,700 + (800 x 60%).
42. The two sections of the cost of production report are
A. the total to be accounted for and the total accounted for.
B. the costs assigned to the goods transferred out and the costs assigned to the goods still in process.
C. the summary of quantities and the summary of costs.
D. beginning inventory plus goods started and goods transferred out and ending inventory.
43. Each section of the production report has two parts. They reconcile
A. the total to be accounted for and the total accounted for.
B. the beginning inventory plus units started and the units started and completed and the ending inventory.
C. the costs in beginning work in process and the costs added during the period.
D. the beginning inventory and the ending inventory.
44. The total accounted for consists of
A. the units started in production.
B. the units transferred out and the units in ending work in process.
C. the units started and the units transferred out.
D. the units transferred out and the units completed.
45. 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.
16,800/7,400
46. 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.
47. The Completion Department transferred 8,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 1,000 units were still in process at the end of the month, and were 40% complete. Inventory costs at the end of the month were $3.50. What were total production costs for the month?
A. $28,000.
B. $29,400.
C. $30,100.
D. $31,500.
48. The headings for the columns of the Cost Schedule section of the Production Report when there is no beginning inventory are
A. Total Cost and Unit Cost.
B. Total Cost and E.P. Units.
C. E.P. Units and Unit Cost.
D. Total Cost, E.P. Units, and Unit Cost.
49. The part of the Cost Schedule showing the total and unit cost of each element and the cumulative cost total is the
A. total costs transferred out.
B. costs accounted for.
C. costs to be accounted for.
D. total work in process.
50. Total costs accounted for consists of the
A. cumulative cost plus the work in process—ending costs.
B. total costs transferred out less the total work in process—ending costs.
C. cumulative cost plus total costs transferred out.
D. total costs transferred out plus the total work in process—ending costs.
