76.For the month of June, Starlight Chocolates had cost per equivalent unit of $2.50 for materials in its Mixing Department and $0.40 for conversion costs. The company began June with 12,000 pounds of chocolate in production. By the end of June, the company had completed 180,000 pounds, and 9,000 pounds were in process. The in-process units were 100 percent complete with respect to material and 40 percent complete with respect to labor and overhead. How much is the cost of the pounds completed and transferred out of the Mixing Department?
A.$522,000
B.$548,100
C.$219,240
D.$545,940
77.In any department, the cost of beginning Work in Process inventory plus the costs incurred during the current period must be
A.less than the costs transferred to the next department.
B.less than the costs in ending Work in Process inventory in the department.
C.equal to the costs transferred to the next department and the costs in ending Work in Process inventory
D.less than the costs incurred in the next department.
78.At the end of July, a journal entry is prepared to record the transfer of goods from the Mixing Department to the Baking Department. Which one of the following indicates the amount of this journal entry?
A.Total costs incurred by Mixing Department during July
B.Sum of the costs of the direct materials and nonmanufacturing overhead incurred in the Mixing Department during July
C.Number of units transferred from the Mixing Department to the Baking Department times the cost per unit
D.Number of equivalent units in the Mixing Department’s July 31 inventory times the cost per equivalent unit
79.Which of the following is true as it pertains to the ending Work in Process Inventory?
A.It is determined by adding the cost in the beginning Work in Process Inventory and the costs incurred in the current period and subtracting the cost of goods transferred out of the department.
B.It is the actual costs incurred plus the costs added during the period.
C.It is always greater than the costs transferred into the department.
D.It is greater than the ending inventory in the previous process department.
80.Cheese Heads Cheddar utilizes a process costing system. The beginning Work in Process Inventory in the Cutting Department consisted of 16,000 units which were 100% complete with respect to materials and 20% complete with respect to conversion costs. The ending Work in Process Inventory consisted of 12,000 units which were 100% complete with respect to materials and 50% complete with respect to conversion costs. The total cost in beginning inventory was $65,000 with an additional $270,400 added during the period. During the month, 62,000 units were transferred out to the next department. The equivalent cost per unit was $1.50 for materials and $3.30 for conversion costs. How much is the total cost of the inventory transferred out during the period?
A.$389,000
B.$224,400
C.$297,600
D.$93,000
81.Shiner Rock Car Wax uses a process costing system. The company has three processing departments—mixing, melting, and packaging. Ending Work in Process Inventory of the Mixing Department consists of 3,000 cans of wax in process carrying a total cost of $14,400. These units are 80% complete with respect to materials. The equivalent cost per unit for materials and conversion costs is $2.00 and $8.00, respectively. With regard to conversion costs, what percentage of completion is the ending inventory?
A.100%
B.40%
C.80%
D.60%
82.After the cost per equivalent unit is calculated, costs can be assigned to
A.ending Work in Process inventory and the units completed and transferred out of the department.
B.beginning Work in Process inventory and ending Work in Process inventory.
C.beginning Work in Process inventory and the units started this period.
D.units started this period and units completed and transferred out this period.
83.Which of the following statements regarding transferred-in costs is true?
A.The number of equivalent units for transferred-in costs in ending Work in Process inventory is the same as the number of physical units transferred-in present in the ending Work in Process inventory.
B.When considering only transferred-in costs, the cost of beginning inventory must equal the cost of the ending inventory.
C.Transferred-in units are assumed to be 0 percent complete when the cost per equivalent unit calculation is performed.
D.All of these answer choices are correct.
84.Which one of the following components of Work in Process is always 100% complete at the beginning of the processing in a department?
A.Direct labor
B.Manufacturing overhead
C.Transferred-in costs
D.Direct material
85.Calhoun Productions uses process costing. At the beginning of the month, there were 1,100 units in process in the Welding Department, 40% complete with respect to conversion costs. Materials are added at the beginning of the process. A total of 15,000 units were started during the month and there were 1,400 units in the ending Work in Process inventory that were 100% complete with respect to material and 30% complete with respect to conversion costs. How many units were completed during the month?
A.14,700 units
B.16,100 units
C.11,900 units
D.15,300 units
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