Accounting

Accounting

Question: In the process cost system, costs are assigned only:
A
to one work in process accounting.

B
to work in process and finished goods inventory.

C
to work in process finished goods and cost of goods sold.

D
to work in process accounts.

Note: Not available
1. Report
Question: In marketing the journal entry to assign raw materials costs:
A
the debit is to Finished Goods Inventory.

B
the debit is often to two or more work in purpose accounting.

C
the credit is generally to two or more work in process accounts.

D
the credit is to Finished Goods Inventory.

Note: Not available
1. Report
Question: The Maxing Department's output during the period consists of 20,000 units completed and transferred out, and 5000 units in ending work in process 60% complete as to materials and conversion costs. Beginning inventory is 1000 units, 40% complete as to materials and conversion costs. The equivalent units of production are:
A
22,600

B
23,000

C
24,000

D
25,000

Note: Not available
1. Report
Question: In RYZ Company has 2000 units in beginning work in process. 20% complete as toa conversion costs, 23,000 units transferred out to finished goods, and 3000 units in ending work in process 33.50% complete as to conversion costs. The beginnings and ending inventory is fully complete as to materials costs. Equivalent units for materials and conversion costs are respectively.
A
22000, 24000

B
24000, 26000

C
26000, 24000

D
26000,26000

Note: Not available
1. Report
Question: Fortner Company has no beginning work in process; 9000 units are transferred out and 3000 units in ending work in process are one-third finished as to conversion costs and fully complete as to materials cost. If total materials cost is $60,000, the unit materials cost is:
A
$5.00

B
$5.45 rounded

C
$6.00

D
None

Note: Not available
1. Report
Question: Largo Company has unit costs of $10 for materials and $30 for conversion costs. If there are 2,500 units in ending work in process, 40% complete as to conversion costs, and fully complete as to materials cost, the total cost assignable to the ending to the ending work porcess inventory is:
A
$45,000.

B
$75,000

C
$55,000.

D
$100,000

Note: Not available
1. Report
Question: Largo Company has unit costs of $10 for materials and $30 for conversion costs. If there are 2,500 units in ending work in process, 40% complete as to conversion costs, and fully complete as to materials cost, the total cost assignable to the ending to the ending work porcess inventory is:
A
$45,000.

B
$75,000

C
$55,000.

D
$100,000

Note: Not available
1. Report
Question: A production cost report
A
is an external report.

B
show cost charged to department and costs accounted for.

C
shows equivalent units of production but not physical units.

D
contains six sections.

Note: Not available
1. Report
Question: Just-in-time processing (JIT):
A
strives to eliminate inventories.

B
uses a pull approach in manufacturing.

C
None

D
Both.

Note: Not available
1. Report
Question: Activity-based costing (ABC):
A
can be only in a process cost system.

B
focuses on units of production.

C
focuses on activities performed to produce a product.

D
uses only a single basis of allocation.

Note: Not available
1. Report

First Prev 21 22 23 24 25 Next Last

Question: In the process cost system, costs are assigned only:

Question: In marketing the journal entry to assign raw materials costs:

Question: Fortner Company has no beginning work in process; 9000 units are transferred out and 3000 units in ending work in process are one-third finished as to conversion costs and fully complete as to materials cost. If total materials cost is $60,000, the unit materials cost is:

Question: Largo Company has unit costs of $10 for materials and $30 for conversion costs. If there are 2,500 units in ending work in process, 40% complete as to conversion costs, and fully complete as to materials cost, the total cost assignable to the ending to the ending work porcess inventory is:

Question: Largo Company has unit costs of $10 for materials and $30 for conversion costs. If there are 2,500 units in ending work in process, 40% complete as to conversion costs, and fully complete as to materials cost, the total cost assignable to the ending to the ending work porcess inventory is:

Question: A production cost report

Question: Just-in-time processing (JIT):

Question: Activity-based costing (ABC):