Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Indicate the answer choice that best completes the statement or anters the 11. In a process cost system, the amount of work in process inventory

image text in transcribed
Indicate the answer choice that best completes the statement or anters the 11. In a process cost system, the amount of work in process inventory is valued by a. finding the sum of all open job.costs b, allocating departmental costs between completed and partially completed units C.multiplying unitsin ending inventory by the direct materials cost per unit d. finding the sam of all completed jobs 12. The two categories of cost comprising conversion costs are a direct labor and indirect labor b. direct labor and factory overhead c. factory overhead und direct materials d. direct labor and direct materials 13. In a process cont system, the cost of completed production in Department A is transfer which of the following entries? a. debit Work in Process Dept. B, credit Work in Process-Dept. A b. debit Work in Process-Dept. Bicredit Finished Goods-Dept. A c. debit Work in Process-Dept. B; credit Cost of Goods Sold-Dept. A d. debit Finished Goods--Dept. Az credit Work in Process-Dept. B 14. The three categories of manufacturing costs comprising the total cost of work in process materials, and a. selling expenses b. direct expenses c. necounting salaries expense d. factory overhead 15. Which of the following would use a process costing system a. custom home builder b. custom helicopter manufacturer C. custom guitar manufacturer d. ice cream manufacturer 16. In the manufacture of 10,000 units of a product, direct materials cast incurred was $1654 incurred was $105,000, and applied factory overhead was 553,000. What is the total com S218,000 b. $158.000 c. $323,000 d. $53,000 Congelador Core Indicate the answer choice that best completes the statement or anters the 11. In a process cost system, the amount of work in process inventory is valued by a. finding the sum of all open job.costs b, allocating departmental costs between completed and partially completed units C.multiplying unitsin ending inventory by the direct materials cost per unit d. finding the sam of all completed jobs 12. The two categories of cost comprising conversion costs are a direct labor and indirect labor b. direct labor and factory overhead c. factory overhead und direct materials d. direct labor and direct materials 13. In a process cont system, the cost of completed production in Department A is transfer which of the following entries? a. debit Work in Process Dept. B, credit Work in Process-Dept. A b. debit Work in Process-Dept. Bicredit Finished Goods-Dept. A c. debit Work in Process-Dept. B; credit Cost of Goods Sold-Dept. A d. debit Finished Goods--Dept. Az credit Work in Process-Dept. B 14. The three categories of manufacturing costs comprising the total cost of work in process materials, and a. selling expenses b. direct expenses c. necounting salaries expense d. factory overhead 15. Which of the following would use a process costing system a. custom home builder b. custom helicopter manufacturer C. custom guitar manufacturer d. ice cream manufacturer 16. In the manufacture of 10,000 units of a product, direct materials cast incurred was $1654 incurred was $105,000, and applied factory overhead was 553,000. What is the total com S218,000 b. $158.000 c. $323,000 d. $53,000 Congelador Core

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting An Introduction to Concepts Methods and Uses

Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil

10th Edition

1111822239, 324639767, 9781111822231, 978-0324639766

More Books

Students also viewed these Accounting questions

Question

=+What can I do to make this press worthy?

Answered: 1 week ago