8. Cost of goods sold A) is calculated exactly the same for merchandising and manufacturing companies. B) only appears on manufacturing companies' income statements. C) appears on both manufacturing and merchandising companies' income statements. D) only appears on merchandising companies' income statements. HHDC CITIZ. 87. Gantner Company had the following department information about physical units and percentage of completion: Work in process, May 1 (60%) Physical Units 60,000 Completed and transferred out 180,000 Work in process, May 31 (40%) 50,000 If materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May? A) 200,000. B) 224,000. C) 240,000 D) 230,000 88. Hanker Company had the following department data on physical units: Work in process, beginning 3,000 Completed and transferred out 18,000 Work in process, ending 2,400 Materials are added at the beginning of the process. What is the total number of equivalent units for materials during the period? A) 20,400 B) 15,000. C) 2,400. D) 18,600 84. Wood Company has beginning work in process inventory of $138,000 and total manufacturing costs of $477,000. If cost of goods manufactured is $480,000, what is the cost of the ending work in process inventory? A) $141,000. B) $150,000. C) $135,000. D) $120,000 14. Edmiston Company reported the 1 Company reported the following year-end information: beginning work in process inventory, S80,000: cost of goods manufactured, $750,000, beginning finished goods inventory Inventory, S50,000; ending work in process inventory, $70,000, and ending Tinished goods inventory, S40,000. How much is Edmiston's cost of goods sold for the year? A) $770,000 B) $740,000 C) $750,000 D) $760,000 15. Minor Company had the following department data: Physical Units Work in process, July 1 30,000 Completed and transferred out 165,000 Work in process, July 31 45,000 Materials are added at the beginning of the process. What is the total number of equivalent units for materials in July? A) 240,000. B) 210,000 C) 180,000. D) 165,000. 16. Which one of the following would not be classified as manufacturing overhead? A) Indirect labor B) Insurance on factory building C) Direct materials D) Indirect materials 17. The flow of costs in a job order cost system A) cannot be measured until all jobs are complete. B) generally follows a LIFO cost flow assumption. C) involves accumulating manufacturing costs incurred and assigning the accumulated costs to work done. D) measures product costs for a set time period. 18. Barton Company has beginning work in process inventory of $144,000 and total manufacturing costs of $686,000. If cost of goods manufactured is S660,000, what is the cost of the ending work in process inventory? A) $118,000. B) $170,000. C) $150,000 D) $190,000 75. A process with 1,600 units of beginning work in process, completed and transferred out 25,000 units during a period. There were 10,000 units in the ending work in process that were 50% complete as to conversion costs. Materials are added 80% at the beginning of the process and 20% when the units are 90% complete. How much is equivalent units of production for the period for material costs? A) 33.000 equivalent units. B) 35,000 equivalent units. C) 27,000 equivalent units. D) 29,000 equivalent units. Produccess and 20te as lo con there were work in proce A) 33.0 for the perihen the units, costs. Materials in the endsted and transfe 35,000 urvalent unit material cost complete. Te added 809 Work in process 76. A well-designed activity-based costing system starts with A) computing the activity-based overhead rate. B) identifying the activity-cost pools. C) assigning overhead costs to products. D) analyzing the activities performed to manufacture a product. 77. 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. The equivalent units of production for materials for June were A) 114,000 equivalent units. B) 90,000 equivalent units. C) 110,000 equivalent units. D) 100,000 equivalent units. 78. Cinder Company had the following department information for the month: Total materials costs $ 60,000 Equivalent units of materials 10,000 Total conversion costs $90,000 Equivalent units of conversion costs 20,000 How much is the total manufacturing cost per unit? A) $5.00 B) $10.50 C) $4.50. D) $6.00