Copy Center pays an average wage of $12 per hour to employees for printing and copying jobs, and allocates $18 of overhead for each employee hour worked. Direct materials are assigned to each job according to actual cost. If Job M-47 used $330 of direct materials and took 20 direct labor hours of labor to complete, what is the total cost that should be assigned to the job? Multiple Choice $600 O $570 810 O $930 $690 O A company's beginning Work in Process inventory consisted of 30,000 units that were 90% complete with respect to direct labor. A total of 100,000 were finished during the period and 35,000 remaining in Work in Process inventory were 40% complete with respect to direct labor at the end of the period. Using the weighted average method, the equivalent units of production with regard to direct labor were: Multiple Choice 100.000 93.000 4000 41.000 54.000 Wyman Corporation uses a process costing system. The company manufactured certain goods at a cost of $850 and sold them on credit to Percy Corporation for $1175. The complete journal entry to be made by Wyman at the time of this sale is: Multiple Choice Debit Accounts Receivable $1975; credt Sales $175, debit Cost of Goods Sold $850; credit Finished Goods Inventory $850. Debit Finished Goods inventory $850; debit Sales $1175 credit Accounts Receivable $175, credit Cost of Goods Sold Seso, Debit Accounts Receivable $1975; credit Sales $325, credit Finished Goods Inventory $850, Debit Accounts Receivable $1975, debit Selling expense $850; credit Sales $175, credt Cost of Goods Sold Seso. Debit Cost of Goods Sold $475credit Sales $1.175. Williams Company computed its cost per equivalent unit for direct materials to be $1.80 and its cost per equivalent unit for conversion to be $3.44. A total of 381,000 units of product were completed and transferred out as finished goods during the month, and 29,000 of equivalent units remained unfinished at the end of the month. The amount that should be reported in Finished Goods Inventory is Multiple Choice $2,048,640 $99.760 $1996.440 $685,800 $151,960 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 65% complete for conversion. The equivalent costs per unit are materials, $2.55, and conversion $2.20. Compute the cost that would be assigned to the ending Work in Process inventory for the period. Multiple Choice $87,560 $174,900 $113,685 o $133,320 576,670 Wilturner Company incurs $89,000 of labor related directly to the product in the Assembly Department, $38,000 of labor related to the Assembly Department as a whole, and $25,000 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 Debit Work in Process inventory $89,000; debit Factory Overhead $63,000, Debit Work in Process Inventory $127000; debit Factory Overhend $25,000 Debit Work in Process Inventory 5152.000 Debit Work In Process Inventory $89,000; debit Wages Expense $63,000. Debit Work in Process Inventory $127,000; debit Wages Expense $25,000
