22.Which of the following does not describe a characteristic of process costing? Question 22 options: Work in process accounts are maintained for each production department. Job cost sheets must pass from one production department to the next on a daily basis. Once production begins, it continues until the finished product emerges. 23.All units of production receive precisely the same amount of material, labor, and overhead. Given the following data, compute equivalent units of production for conversion costs: Beginning Work in Process4,000 units, 40% complete Units Started into Production40,000 units Ending Work in Process3,000 units, 20% complete. Question 23 options: 41,600. 43,000. 39,000. 42,200.

24.Raw materials inventory, January 1 $20,000 Raw materials inventory, December 31 10,000 Work in process inventory, January 1 6,000 Work in process inventory, December 31 9,000 Finished goods inventory, January 1 16,000 Finished goods inventory, December 31 20,000 Raw materials purchases 400,000 Direct labor 200,000 Factory utilities 75,000 Indirect labor 45,000 Factory depreciation 180,000 Selling & administrative expenses 210,000 Direct materials used is: Question 24 options: $410,000. $390,000. $400,000. $430,000.

25.Raw materials inventory, January 1 $20,000 Raw materials inventory, December 31 10,000 Work in process inventory, January 1 6,000 Work in process inventory, December 31 9,000 Finished goods inventory, January 1 16,000 Finished goods inventory, December 31 20,000 Raw materials purchases 400,000 Direct labor 200,000 Factory utilities 75,000 Indirect labor 45,000 Factory depreciation 180,000 Selling & administrative expenses 210,000 Assume direct materials is $400,000. Total manufacturing costs equal: Question 25 options: $780,000. $600,000. $700,000. $900,000.

26.Raw materials inventory, January 1 $20,000 Raw materials inventory, December 31 10,000 Work in process inventory, January 1 6,000 Work in process inventory, December 31 9,000 Finished goods inventory, January 1 16,000 Finished goods inventory, December 31 20,000 Raw materials purchases 400,000 Direct labor 200,000 Factory utilities 75,000 Indirect labor 45,000 Factory depreciation 180,000 Selling & administrative expenses 210,000 Assume manufacturing costs is $850,000. Cost of goods manufactured equals: Question 26 options: $850,000. $847,000. $854,000. $853,000.

27.Raw materials inventory, January 1 $20,000 Raw materials inventory, December 31 10,000 Work in process inventory, January 1 6,000 Work in process inventory, December 31 9,000 Finished goods inventory, January 1 16,000 Finished goods inventory, December 31 20,000 Raw materials purchases 400,000 Direct labor 200,000 Factory utilities 75,000 Indirect labor 45,000 Factory depreciation 180,000 Selling & administrative expenses 210,000 Assume goods manufactured is $870,000. The cost of goods sold is: Question 27 options: $867,000. $866,000. $870,000. $874,000.