Exam 3 Popeye's Olive Oyl The production for May reflects the following information: Department Department Units in process, beginning of the month one-third complete 600 Units in process, beginning of the month one-half complete 200 9,400 Units started in production Units finished and transferred to 9.200 Department 2 9,200 Units transferred in 8800 Units finished 800 Units in process the end of the month one-half completed 600 Units in process the end of the month wo-thirds completed Cost data are as follows: Beginning work in process, prior month's costs Prior department 4,000 300 cost Materials 1,000 225 700 Labor Factory overhead2,300460 19,000 24,000 Materials Current month's production costs: 22,050 16,500 Factory overhead 28,050 25,600 Labor 6. The equivalent units of production for Department 1 using the weighted average method is: C) 9,400 units D) 9,600 units B) 9,200 units A) 9,100 units 2 using the weighted average method is: C)9,400 units 7. The equivalent units of production for Department A) 9,100 units B) 9,200 units D) 9,600 units 8. The equivalent units of production for Department I using the FIFO method is: A) 9,100 units B) 9,200 units C) 9,400 units 9. The equivalent units of production for Department 2 using the FIF" A) 9,100 units B)9,200 units C) 9,400 units D9.600 ts 9,600 units 10. Materials are added evenly. What is the equivalent units of production for materials for Department 1 using the weighted average method? at the beginning of the process and labor and overhead are distributed units B) 9,400 units C9,600 units )10,000 units . Materials are added at the beginning of the process and labor and overhead are distributed evenly. What is the equivalent units of production for materials for Department 1 using the FIFO method? 1 A) 9,200 units B) 9,400 units D)10,000 units C) 9,600 units 12. Materials are added at the end of the process and labor and overhead are distributed evenly What is the equivalent units of production for materials for Department 2 using the weighted average method? A) 8,800 units D)10,000 units ) 9,600 units B) 9,400 units 13. Materials are added at the end of the process and labor and overhead are distributed evenly. What is the equivalent units of production for materials for Department 2 using the FIFO method? D)10,000 units C) 9,600 units B)9,400 units A) 8,800 units 14. Total work in process in Department 1 before goods are transferred to Department 2 is A) $4,000 D) $86,900 C) $78,100 B) $74,100 15. Assume the equivalent units of production is 9,500 units (materials, labor and overhead ane added evenly throughout the process). The unit cost for Department 1 using weighted average is: A) $8.22 D) $7.86 B) $8.05 C) $8.00 16. Journal entry to transfer goods from Department I to Department 2 is: A) Debit work in process Department 1; credit work in process Department 2 B) Debit work in process Department 2; credit work in process Department 1 C) Debit finished goods; credit work in process Department 1 D) Debit finished goods; credit work in process Department 2 17. The number of units transferred into Department 2 is: A) 10,000 units B)9,400 units C) 9,200 units 18. Beginning work in process in Department 2 occurred in: A) April B) May C) June D) July 19. Beginning work in process in Department 2 A) Department 1 only BDepartment 1 and 2 contains costs from: C) Department 2 only 20. Unit cost using weighted average and FIFO will always be the same A) True B) False 21. The journal entry to transfer the goods from the sccond department to the finished goods is: A) Debit work in process Department 1: credit work in process Department 2 B) Debit work in process Department 2; credit work in process Department 1 C) Debit finished goods; credit work in process Department 1 D) Debit finished goods; credit work in process Department 2 22. If cost transferred this month from Department 1 is $73,600 what is the total costs to be accounted for in Department 2 is: A) $78,585 D) $139,685 C) $135,685 B) $134,700 23. Assume the equivalent units of production in Department 2 is 9,000 units (materials, labor and overhead are added evenly throughout the process). The unit cost for Department 2 using FIFO is: A) $6.79 D) $15.08 C) $14.97 B) $6.90 24. Department 1 600 units in beginning work in process is s complete. How many units were "completed" in May using the weighted average method: A) can not be determined C) 400 units D) 600 units B) 200 units 25. Department 1 600 units in beginning work in process is were "completed" in May using the FIFO method: can not be determined complete. How many units D) 600 units C)400 units B) 200 units A)
