Chapter 21 quiz

A process cost accounting system is most appropriate when A. a variety of different products are produced, each one requiring different types of materials, labor, and overhead. B. similar products are mass-produced. C. the focus of attention is on a particular job or order. D. individual products are custom made to the specification of customers.

A process cost system would be used for all of the following products except A. chemicals. B. computer chips. C. motion pictures. D. soft drinks.

A product requires processing in two departments, the Baking Department and then the Packaging Department, before it is completed. Costs transferred out of the Baking Department will be transferred to: A. Work in Process—Packaging Department. B. Manufacturing Overhead. C. Finished Goods Inventory. D. Cost of Goods Sold.

Materials requisitions are: A. used more frequently by latter stage production departments. B. generally used more frequently in process costing than job order costing. C. not used in process costing. D. generally used less frequently in process costing than job order costing.

A process with no beginning work in process, completed and transferred out 85,000 units during a period and had 50,000 units in the ending work in process inventory that were 30% complete. The equivalent units of production for the period were: A. 85,000 equivalent units. B. 135,000 equivalent units. C. 70,000 equivalent units. D. 100,000 equivalent units.

In the month of June, a department had 20,000 units in beginning work in process that were 70% complete. During June, 90,000 units were transferred into production from another department. At the end of June there were 10,000 units in ending work in process that were 40% complete. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. How many units were transferred out of the process in June? A. 110,000 units. B. 80,000 units. C. 90,000 units. D. 100,000 units.

The Molding Department of Kennett Company has the following production data: beginning work in process 25,000 units (60% complete), started into production 475,000 units, completed and transferred out 450,000 units, and ending work in process 50,000 units (40% complete). Assuming conversion costs are incurred uniformly during the process, the equivalent units for conversion costs are: 450,000. 455,000. 500,000. 470,000.

In a process cost system, units to be accounted for in a department are equal to the A. number of units transferred out of the department. B. number of units started or transferred into the department. C. units in the beginning inventory plus the units started or transferred into the department. D. ending inventory plus the units started or transferred into the department.

If 180,000 units are transferred out of a department, there was no beginning work in process, and there are 30,000 units still in process at the end of a period, the number of units that were started into production during the period is A. 150,000. B. 210,000. C. 180,000. D. 30,000.

Conversion cost per unit equals $6. Total materials cost equal $90,000. Equivalent units for materials are 10,000. How much is the total manufacturing cost per unit? A. $6. B. $12. C. $9. D. $15.

In a process cost system, a production cost report is prepared A. for each processing department. B. for all departments in the aggregate. C. only for the last processing department. D. only for the first processing department.

In the production cost report, the total A. costs accounted for equals the costs of the units started into production. B. physical units accounted for equals the costs accounted for. C. physical units accounted for equals the units to be accounted for. D. costs charged equals the units to be accounted for.

Equivalent units of production are a measure of A. units transferred out. B. the work done in a period expressed in fully completed units. C. units completed and transferred out. D. units in ending work in process.

In Saint-Simon, Inc., the Assembly Department started 60,000 units and completed 70,000 units. If beginning work in process was 30,000 units, how many units are in ending work in process? A. 20,000. B. 40,000. C. 10,000. D. 0.

The total costs accounted for in a production cost report equal the A. cost of units completed and transferred out only. B. cost of units completed and transferred out plus the cost of ending work in process. C. cost of beginning work in process plus the cost of units completed and transferred out. D. cost of units started into production.