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Exam 3: The Accounting Information System

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Question 71

True/False

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The assignment of the three manufacturing cost elements to Work in Process in a process cost system is the same as in a job order cost system.

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Question 72

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In the Camria Company, materials are entered at the beginning of the process.If there is no beginning work in process, but there is an ending work in process inventory, the number of equivalent units as to materials costs will be

A) the same as the units started.
B) the same as the units completed.
C) less than the units started.
D) less than the units completed.

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Question 73

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A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process.For the month of January, there were no units in the beginning work in process inventory; 80,000 units were started into production in January; and there were 20,000 units that were 40% complete in the ending work in process inventory at the end of January.What were the equivalent units of production for materials for the month of January?

In the month of April, a department had 500 units in the beginning work in process inventory that were 60% complete.These units had $40,000 of materials costs and $30,000 of conversion costs.Materials are added at the beginning of the process and conversion costs are added uniformly throughout the process.During April, 10,000 units were completed and transferred to the finished goods inventory and there were 2,000 units that were 25% complete in the ending work in process inventory on April 30.During April, manufacturing costs charged to the department were: Materials $920,000; Conversion costs $1,020,000. -The cost assigned to the units in the ending work in process inventory on April 30 was

Cohen Company is trying to determine the equivalent units for conversion costs with 5,000 units of ending work in process at 80% completion and 35,000 units that are 100% complete as to materials.There are no beginning units in the department.Materials are added at the beginning of the process, and conversion costs occur evenly throughout the entire production period.What is the equivalent units of production for conversion costs for the current period?

For the Assembly Department, unit materials cost is $8 and unit conversion cost is $12.If there are 10,000 units in ending work in process 75% complete as to conversion costs, the costs to be assigned to the inventory are

Equivalent units of production must be calculated before the unit production costs can be computed.

It is necessary to calculate equivalent units of production in a department because

A department had the following information for the month: $\begin{array}{lr}\text { Total materials costs } & \$ 210,000 \\\text { Conversion cost per unit } & \$ 3.00 \\\text { Total manufacturing cost per unit } & \$ 5.00\end{array}$ What are the equivalent units of production for materials?

Unit material cost is computed by taking total material costs charged to the department for the period and dividing by the physical units in the process during the period.

Department 1 of a two department production process shows: $\begin{array}{lr}&\text { Units }\\\text { Beginning Work in Process } & 10,000 \\\text { Ending Work in Process } & 50,000 \\\text { Total units to be accounted for } & 160,000\end{array}$ How many units were transferred out to Department 2?