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The Molding Department is the second department in its production process. The data below summarize the department"s operations in January.
What would be the cost per equivalent unit for conversion costs for September on the Casting Department"s production report?
Work in process inventory and 25% complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow:
What would be the cost per equivalent unit for conversion costs for the month on the Forming Department"s production report?
Quis Corporation uses the FIFO method in its process costing system. Operating data for the Cutting Department for the month of March appear below:
What are the equivalent units for the month of January? Walden Company has a process costing system and uses the FIFO method.
The following information is available for conversion costs for the month of April in Department A:
Laurie Company uses the FIFO method in its process costing system. Department A is the first stage of Laurie Companys production process
The job had been charged with $28,000 of direct labor cost, which consisted of 2,000 actual labor-hours. The direct materials cost in Job 42 totaled:
Baar Company is a manufacturing firm that uses job-order costing. The company"s inventory balances were as follows at the beginning and end of the year:
Under the weighted-average and FIFO methods of process costing if there are no beginning work in process inventories.
Under the weighted-average method of process costing, costs from the prior period are averaged with those of the current period in computing unit costs.
Managers to judge the performance of the current period independently of the performance of the prior period.
Under a JIT inventory system, the differences between FIFO and weighted-average costing methods are reduced.
Which of the following journal entries would be used to record application of manufacturing overhead to work in process in a process costing system
Costs in an operation costing system are accumulated by: department. by individual job. by both job and departments. by neither job nor department
The FIFO method provides a major advantage over the weighted-average method in that:
The weighted-average method of process costing differs from the FIFO method of process costing in that the weighted-average method:
Which of the following statements about process costing system is incorrect?
Subtracting the equivalent units in beginning inventory from the sum of the units transferred out and the equivalent units in ending inventory.
Determined that the following items and amounts were debited to the Manufacturing Overhead account during the year:
Compute the October cost of direct materials used if raw material purchases for the month were $30,000 and the inventories were as follows:
Appropriate inventory accounts based on the amount of overhead applied during the year in the accounts, Cost of Goods Sold after allocation will be:
If the company bases its predetermined overhead rate on estimated machine-hours, then its overhead for the year would have been:
Machine-hours were made at the beginning of the year for the purpose of computing the company"s predetermined overhead rate for the year.