Question
22. A materials requisition slip showed that direct materials requested were $65,000 and indirect materials requested were $8,000. The entry to record the transfer of
22. A materials requisition slip showed that direct materials requested were $65,000 and indirect materials requested were $8,000. The entry to record the transfer of materials from the storeroom is Question 22 options: Work In Process Inventory 65,000 Raw Materials Inventory 65,000 Direct Materials 65,000 Indirect Materials 8,000 Work in Process Inventory 73,000 Work In Process Inventory 65,000 Manufacturing Overhead 8,000 Raw Materials Inventory 73,000 Manufacturing Overhead 73,000 Raw Materials Inventory 73,000
23. When a job is completed and all costs have been accumulated on a job cost sheet, the journal entry that should be made is Question 23 options: Finished Goods Inventory Direct Materials Direct Labor Manufacturing Overhead Finished Goods Inventory Work In Process Inventory Raw Materials Inventory Work In Process Inventory Work In Process Inventory Direct Materials Direct Labor Manufacturing Overhead
24.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: Question 24 options: Manufacturing Overhead. Finished Goods Inventory. Work in ProcessPackaging Department. Cost of Goods Sold.
25.It is necessary to calculate equivalent units of production in a department because Question 25 options: a physical count of units is impossible. at times a department may use a job order cost system and then switch to a process cost system. some units worked on in the department are not fully complete. the physical units in the department are always 100% complete.
26.A process with no beginning work in process, completed and transferred out 28,000 units during a period and had 12,000 units in the ending work in process that were 50% complete. How much is equivalent units of production for the period for conversion costs? Question 26 options: 22,000 equivalent units. 34,000 equivalent units. 46,000 equivalent units. 40,000 equivalent units.
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