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Carrington Corporation produces canned vegetable soup.The company uses the weighted-average method in its process costing system.The company sold 300,000 units in January.Data concerning inventories follow: Carrington Corporation produces canned vegetable soup.The company uses the weighted-average method in its process costing system.The company sold 300,000 units in January.Data concerning inventories follow: What were the equivalent units for conversion costs for January? A) 285,000 units. B) 303,000 units C) 300,000 units D) 309,000 units What were the equivalent units for conversion costs for January?


A) 285,000 units.
B) 303,000 units
C) 300,000 units
D) 309,000 units

E) A) and C)
F) A) and B)

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Raider Corporation uses the weighted-average method in its process costing system.The Molding Department is the second department in its production process.The data below summarize the department's operations in January. Raider Corporation uses the weighted-average method in its process costing system.The Molding Department is the second department in its production process.The data below summarize the department's operations in January. The Molding Department's cost per equivalent unit for conversion cost for January was $3.19. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January? A) $22,106.70 B) $25,201.00 C) $20,160.80 D) $5,040.20 The Molding Department's cost per equivalent unit for conversion cost for January was $3.19. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January?


A) $22,106.70
B) $25,201.00
C) $20,160.80
D) $5,040.20

E) B) and D)
F) B) and C)

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Fuller Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were: Fuller Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were: A total of 9,800 units were started and 8,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to: A) $620,100 B) $646,832 C) $542,106 D) $596,500 A total of 9,800 units were started and 8,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Fuller Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were: A total of 9,800 units were started and 8,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to: A) $620,100 B) $646,832 C) $542,106 D) $596,500 The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to:


A) $620,100
B) $646,832
C) $542,106
D) $596,500

E) B) and C)
F) C) and D)

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Jublot Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Jublot Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to three decimal places. -The cost per equivalent unit for materials for the month in the first processing department is closest to: A) $16.31 B) $21.25 C) $14.48 D) $15.88 Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to three decimal places. -The cost per equivalent unit for materials for the month in the first processing department is closest to:


A) $16.31
B) $21.25
C) $14.48
D) $15.88

E) None of the above
F) B) and C)

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A job-order costing system would be best suited for production of a large quantity of a homogeneous product.

A) True
B) False

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Sumter Corporation uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month: Sumter Corporation uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month: -What was the cost per equivalent unit for conversion during the month? A) $5.45 B) $6.95 C) $4.00 D) $3.05 -What was the cost per equivalent unit for conversion during the month?


A) $5.45
B) $6.95
C) $4.00
D) $3.05

E) B) and C)
F) B) and D)

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Kota Toy Corporation manufactures lizard dolls in two departments, Molding and Assembly. In the Molding Department, plastic is injected into a lizard-shaped mold. The dolls that come out of the molds are then transferred to the Assembly Department where hair is applied. Kota uses a weighted-average process cost system to collect costs in both departments. On January 1, the Molding Department had 4,000 dolls in process. These dolls were 100% complete with respect to direct materials and 70% complete with respect to conversion cost. During January, Molding completed 79,000 dolls. On January 31, Molding had 7,000 dolls in work in process. These dolls were 100% complete with respect to direct materials and 25% complete with respect to conversion cost. -How many dolls were started in the Molding Department during January?


A) 75,000
B) 76,000
C) 82,000
D) 86,000

E) B) and C)
F) None of the above

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The following data were taken from the accounting records of the Mixing Department of Kappa Corporation which uses the weighted-average method in its process costing system: The following data were taken from the accounting records of the Mixing Department of Kappa Corporation which uses the weighted-average method in its process costing system: The cost of units transferred out was: A) $184,500 B) $149,500 C) $167,500 D) $145,000 The cost of units transferred out was:


A) $184,500
B) $149,500
C) $167,500
D) $145,000

E) A) and B)
F) B) and D)

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In August,one of the processing departments at Khatak Corporation had beginning work in process inventory of $34,000 and ending work in process inventory of $30,000.During the month,the cost of units transferred out from the department was $374,000. Required: Construct a cost reconciliation report for the department for the month of August.

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Cost of beginning work in process invent...

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Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The cost per equivalent unit for materials for the month in the first processing department is closest to: A) $19.01 B) $19.61 C) $20.50 D) $18.19 A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The cost per equivalent unit for materials for the month in the first processing department is closest to: A) $19.01 B) $19.61 C) $20.50 D) $18.19 The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The cost per equivalent unit for materials for the month in the first processing department is closest to:


A) $19.01
B) $19.61
C) $20.50
D) $18.19

E) None of the above
F) All of the above

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Fabert Corporation uses the weighted-average method in its process costing system.The Assembly Department started the month with 16,000 units in its beginning work in process inventory that were 40% complete with respect to conversion costs.An additional 60,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department.During the month 65,000 units were completed in the Assembly Department and transferred to the next processing department.There were 11,000 units in the ending work in process inventory of the Assembly Department that were 50% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Assembly Department for the month?


A) 65,000
B) 70,500
C) 64,100
D) 55,000

E) A) and C)
F) A) and B)

Correct Answer

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Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: A total of 7,800 units were started and 7,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to: A) $264,200 B) $244,219 C) $288,935 D) $277,900 A total of 7,800 units were started and 7,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: A total of 7,800 units were started and 7,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to: A) $264,200 B) $244,219 C) $288,935 D) $277,900 The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to:


A) $264,200
B) $244,219
C) $288,935
D) $277,900

E) A) and B)
F) C) and D)

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Kota Toy Corporation manufactures lizard dolls in two departments, Molding and Assembly. In the Molding Department, plastic is injected into a lizard-shaped mold. The dolls that come out of the molds are then transferred to the Assembly Department where hair is applied. Kota uses a weighted-average process cost system to collect costs in both departments. On January 1, the Molding Department had 4,000 dolls in process. These dolls were 100% complete with respect to direct materials and 70% complete with respect to conversion cost. During January, Molding completed 79,000 dolls. On January 31, Molding had 7,000 dolls in work in process. These dolls were 100% complete with respect to direct materials and 25% complete with respect to conversion cost. -What are the Molding Department's equivalent units related to materials for January?


A) 79,000
B) 86,000
C) 89,000
D) 93,000

E) B) and C)
F) A) and D)

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In the cost reconciliation report under the weighted-average method,the "Total cost accounted for" equals:


A) Cost of beginning work in process inventory + Cost of units transferred out
B) Cost of beginning work in process inventory + Cost of units transferred in
C) Cost of ending work in process inventory + Cost of units transferred out
D) Cost of ending work in process inventory + Cost added to production during the period

E) B) and C)
F) A) and C)

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Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: A total of 8,500 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to: A) $476,929 B) $599,376 C) $501,600 D) $525,000 A total of 8,500 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: A total of 8,500 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to: A) $476,929 B) $599,376 C) $501,600 D) $525,000 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to:


A) $476,929
B) $599,376
C) $501,600
D) $525,000

E) A) and C)
F) None of the above

Correct Answer

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Lucas Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Lucas Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -What are the equivalent units for materials for the month in the first processing department? A) 9,000 B) 1,575 C) 6,900 D) 8,475 Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -What are the equivalent units for materials for the month in the first processing department?


A) 9,000
B) 1,575
C) 6,900
D) 8,475

E) B) and C)
F) B) and D)

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In the cost reconciliation report under the weighted-average method,the "Costs to be accounted for" section contains which of the following items?


A) Cost of beginning work in process inventory
B) Cost of ending work in process inventory
C) Cost of units transferred out
D) Cost of ending finished goods inventory

E) A) and B)
F) B) and C)

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Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: A total of 8,500 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The cost per equivalent unit for conversion costs for the first department for the month is closest to: A) $40.03 B) $46.16 C) $44.58 D) $48.47 A total of 8,500 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: A total of 8,500 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The cost per equivalent unit for conversion costs for the first department for the month is closest to: A) $40.03 B) $46.16 C) $44.58 D) $48.47 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The cost per equivalent unit for conversion costs for the first department for the month is closest to:


A) $40.03
B) $46.16
C) $44.58
D) $48.47

E) A) and B)
F) None of the above

Correct Answer

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Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to: A) $332,500 B) $345,000 C) $322,777 D) $377,485 A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to: A) $332,500 B) $345,000 C) $322,777 D) $377,485 The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to:


A) $332,500
B) $345,000
C) $322,777
D) $377,485

E) A) and D)
F) C) and D)

Correct Answer

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Jersey Corporation has a process costing system in which it uses the weighted-average method.The equivalent units for conversion costs for the month were 47,500 units.The beginning work in process inventory consisted of 15,000 units,60% complete with respect to conversion costs.The ending work in process inventory consisted of 10,000 units,75% complete with respect to conversion costs.The number of units started during the month was:


A) 25,000 units
B) 34,000 units
C) 35,000 units
D) 40,000 units

E) A) and B)
F) C) and D)

Correct Answer

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