Question
10- Which of the following characteristics does not apply to job order cost accounting? Multiple Choice Aims to compute the cost per unit of product.
10- Which of the following characteristics does not apply to job order cost accounting?
Multiple Choice
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Aims to compute the cost per unit of product.
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Identifiable units of production.
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Equivalent units of production.
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Use of job cost sheets.
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Use of a single Work in Process Inventory account.
14- Wilturner Company incurs $82,000 of labor related directly to the product in the Assembly Department, $31,000 of labor related to the Assembly Department as a whole, and $18,000 of labor for services that help production in both the Assembly and Finishing departments. The journal entries to record the labor for the Assembly Department would include:
Multiple Choice
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Debit Work in Process Inventory $82,000; debit Factory Overhead $49,000.
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Debit Work in Process Inventory $82,000; debit Wages Expense $49,000.
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Debit Work in Process Inventory $113,000; debit Wages Expense $18,000.
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Debit Work in Process Inventory $131,000.
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Debit Work in Process Inventory $113,000; debit Factory Overhead $18,000.
15- A company uses the weighted-average method for inventory costing. At the end of the period, 22,000 units were in the ending Work in Process inventory and are 100% complete for materials and 75% complete for conversion. The equivalent costs per unit are materials, $2.65 and conversion $5.35. Compute the cost that would be assigned to the ending Work in Process inventory for the period.
Multiple Choice
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$146,575.
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$176,000.
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$87,725.
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$93,775.
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$132,000.
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