Question : 101. The following unit data were assembled for the assembly process : 1251557

 

 

101. The following unit data were assembled for the assembly process of the Super Co. for the month of June. Direct materials are added at the beginning of the process. Conversion costs are added uniformly over the production process. The company uses the FIFO process. 

 

 

Units

Beginning work in process (60% complete)

 

5,000

Units started in September

 

51,000

Ending work in process (30% complete)

 

4,000

 

 

 

The number of equivalent units produced with respect to conversion costs is: A. 54,200B. 55,200C. 54,200D. 50,200

 

102. The following unit data were assembled for the assembly process of the Super Co. for the month of June. Direct materials are added at the beginning of the process. Conversion costs are added uniformly over the production process. The company uses the FIFO process. 

 

 

Units

Beginning work in process (60% complete)

 

5,000

Units started in September

 

51,000

Ending work in process (30% complete)

 

4,000

 

 

 

The number of equivalent units produced with respect to direct materials costs is: A. 51,000B. 50,000C. 47,000D. 56,000

 

103. Carmelita Inc., has the following information available: 

 

Costs from

Costs from

 

Beginning Inventory

Current Period

 

 

 

Direct materials

$2,500

$22,252

Conversion Costs

  6,200

150,536

 

 

 

At the beginning of the period, there were 500 units in process that were 60 percent complete as to conversion costs and 100 percent complete as to direct materials costs. During the period 4,500 units were started and completed. Ending inventory contained 340 units that were 30 percent complete as to conversion costs and 100 percent complete as to materials costs. (Assume that the company uses the FIFO process cost method.)The equivalent units of production for direct materials and conversion costs, respectively, were A. 5,340 for direct materials and 4,902 for conversion costs.B. 4,840 for direct materials and 4,802 for conversion costs.C. 4,602 for direct materials and 4,802 for conversion costs.D. 4,902 for direct materials and 4,802 for conversion costs.

 

104. Carmelita Inc., has the following information available: 

 

Costs from

Costs from

 

Beginning Inventory

Current Period

 

 

 

Direct materials

$2,500

$22,252

Conversion Costs

  6,200

150,536

 

 

 

At the beginning of the period, there were 500 units in process that were 60 percent complete as to conversion costs and 100 percent complete as to direct materials costs. During the period 4,500 units were started and completed. Ending inventory contained 340 units that were 30 percent complete as to conversion costs and 100 percent complete as to materials costs. (Assume that the company uses the FIFO process cost method.)The cost of completing a unit during the current period was A. $36.19B. $34.88C. $35.95D. $35.89

 

105. Carmelita Inc., has the following information available: 

 

Costs from

Costs from

 

Beginning Inventory

Current Period

 

 

 

Direct materials

$2,500

$22,252

Conversion Costs

  6,200

150,536

 

 

 

At the beginning of the period, there were 500 units in process that were 60 percent complete as to conversion costs and 100 percent complete as to direct materials costs. During the period 4,500 units were started and completed. Ending inventory contained 340 units that were 30 percent complete as to conversion costs and 100 percent complete as to materials costs. (Assume that the company uses the FIFO process cost method.  Round cost per unit figures to two cents, i.e. $2.22 when calculating total costs.)The total costs that will be transferred into Finished Goods for units started and completed were A. $161,775B. $156,960C. $162,855D. $161,505

 

106. Equivalent production units, usually are determined for A. direct materials and conversion costs.B. direct materials only.C. conversion costs only.D. direct materials and direct labor costs only.

 

107. The portion of whole units that were completed with respect to either materials or conversion costs within a given accounting period is the definition of  A. units started and completed.B. equivalent units.C. conversion costs.D. ending work in process.

 

108. Which of the following is not included in conversion costs? A. Direct labor.B. Factory overhead.C. Indirect labor.D. Direct materials.

 

109. A form prepared periodically for each processing department summarizing (1) the units for which the department is accountable and the units to be assigned costs and (2) the costs charged to the department and the allocation of these costs is termed a: A. factory overhead production reportB. manufacturing cost reportC. process cost reportD. cost of production report

 

110. Department W had 2,400 units, one-third completed at the beginning of the period, 14,000 units were transferred to Department X from Department W during the period, and 1,800 units were one-half completed at the end of the period.  Assume the completion ratios apply to direct materials and conversion costs. What are the total gross number of units to be assigned cost on the cost of production report for Department W? A. 12,000 unitsB. 13,600 unitsC. 12,700 unitsD. 15,800 units