multipls choice for all thanks

hich of the following journal entries properly records direct labor costs (on account) of $7,000 incurred in the Formulating Department? Multiple Choice Finished Goods-Formulating Salaries and Wages Payable 17,000 7.000 Salaries and Wages Payable Work in Process-Formulating 17.000 17.000 Work in Process-Formulating Salaries and Wagen Payable 17.000 12.000 7.000 Salaries and Wages Payable Finished Goods-Formulating 12.000 Milling Department Cost of beginning work in process inventory Costs added to production during the period Cost of ending work in process inventory Materials $ 15,000 $650,000 $ 20,000 What is the cost of the units transferred out of the Milling Department? Multiple Choice $645,000 $615,000 $655,000 $685,000 Which of the following is true regarding the weighted average method of process costing? Multiple Choice It excludes equivalent units of production from the unit cost calculations. It calculates unit costs based solely on the costs and outputs from the current period. It calculates unit costs by combining costs and outputs from the current and prior periods. It calculates unit costs by combining the manufacturing and nonmanufacturing costs incurred in specific departments. Departmental costs Number of employees Square feet of space occupied Service Departments Cafeteria Janitorial $180,000 $140,000 10 20 3,000 2,000 Operating Departments Lab Tech $232,000 $950,000 40 60 11,000 9,000 the company (1) uses the step-down method (beginning with the Cafeteria) to allocate service department costs to operating departments, (2) allocates Cafeteria costs based on the number of employees, and (3) allocates Janitorial costs based on square feet of space of occupied, then the total service department costs allocated to the Lab Department is closest to: Multiple Choice $163,500 $149,500 $153,500 $159,500 Assume a company uses the FIFO method in its process costing. Its Work in Process T-account for the Refining Department for Augustis: August 1 balance 2 Materials Direct labor Overhead August 31 balance Work in Process: Refining Department 62,000 Completed and transferred to Finished Goods 495,000 72,000 181,000 2 The August 1 work in process inventory consisted of 6,000 units with $40.000 in materials cost and $22,000 in conversion cost. The August 1 work in process inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 48,000 units were started into production. The August 31 work in process inventory consisted of 8,000 units that were 100% with respect to materials and 60% complete with respect to conversion What is the cost per equivalent unit for conversion? Multiple Choice O $4.73 O $5.75 $5.23 O $5.35 Units 200 6,200 Percent Complete Materials Conversion 408 30% Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory 5,800 600 1008 708 1008 608 Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials $ 10,000 290,000 $300,000 Conversion $ 15,000 385,000 $ 400,000 Using the FIFO method, the total cost of the ending work in process inventory with respect to conversion is closest to: Multiple Choice $22,720 $24,607 Assume the following information: Units 200 6,200 Percent Complete Materials Conversion 400 308 Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory 5,800 600 1008 701 1001 608 Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials Conversion $ 10,000 $ 15,000 283,000 385,000 $293,000 $400,000 Using the weighted average method, the total cost of the units completed during the period and transferred out to the next department with respect materials is closest to: Saved Total cost $293,000 $400,000 Using the weighted-average method, the total cost of the units completed during the period and transferred materials is closest to: Multiple Choice $273,238 $270,555. $272,656 $271,806 Milling Department Beginning work in process inventory Units started into production during March Units completed during March and transferred to the next department Ending work in process inventory Units 300 6,200 Materials Conversion 458 308 5,800 700 100% 603 1008 358 Using the weighted average method, what is the equivalent units of production for conversion? Multiple Choice 6,045 units 6.220 units O 6,085 units . 6,500 units Unita 300 6,000 Materials Conversion 455 308 Milling Department Beginning work in process inventory Units started into production during March Units completed during March and transferred to the next department Ending work in process inventory 2 1001 1003 500 608 404 If the equivalent units of production for materials is 6,100 using the weighted average method, then how many units were completed during March and transferred to the next department? Multiple Choice 5,600 units 6,200 units 5.800 units 6,000 units Units 200 6,200 Percent Complete Materials Conversion 40% 30% Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory 5,800 600 100% 70% 1008 603 Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials $ 10,000 291,000 $301,000 Conversion $ 15,000 385,000 $400,000 Using the weighted-average method, the total cost of the ending work in process inventory with respect to materials is closest to Total cost $301,000 Using the weighted-average method, the total cost of the ending work in process inventory with Multiple Choice O $20,825 $21,825 $20,325 $21,525 Assume a company uses the FIFO method in its process costing. Its Work in Process T-account for the Refining Department for August is: August i balance Materials Direct labor Overhead August 31 balance Work in Process Retining Department 62,000 Completed and transferred to Finished Goods 310,000 72,000 181,000 ? The August 1 work in process inventory consisted of 6,000 units with $40,000 in materials cost and $22,000 in conversion cost. The August 1 work in process inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 48,000 units were starte Into production. The August 31 work in process inventory consisted of 8,000 units that were 100% with respect to materials and 60% complete with respect to conversion How many units were started and completed in the Refining Department during the month of August? Assume a company uses the FIFO method in its process costing. Its Work in Process T-account for the Refining Department for August is: August 1 balance 2 07 Materials Direct labor Overhead August 31 balance Work in Process Refining Department 62,000 Completed and transferred to Finished Goods 495,000 72,000 181.000 2 The August 1 work in process inventory consisted of 6,000 units with $40,000 in materials cost and $22,000 in conversion cost. The August 1 work in process inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 48,000 units were started Into production. The August 31 work in process inventory consisted of 8,000 units that were 100% with respect to materials and 60% complete with respect to conversion What is the conversion cost in the ending work in process inventory? Multiple Choice O $22,104 O $27,404 $28,404 $25,104 Saved sume the following information: Units 200 6,200 Percent Complete Materials Conversion 408 30% Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory 5,800 600 1008 508 1008 458 Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials $ 10,000 290,000 $300,000 Conversion $ 15,000 385,000 $ 400,000 Multiple Choice O $32,848 $35,947. $34,048 $31,747 Assume a company uses the weight-average method in its process costing. Its Work in Process T-account for the Refining Department for Augustis. August 1 balance 2 Materials Direct labor Overhead August 31 balance Work in PrOCOSSE Hefining Department 62,000 Completed and transferred to Finished Goods 310,000 72,000 181,000 2 The August 1 work in process inventory consisted of 6,000 units with $42,500 in materials cost and $19,500 in conversion cost. The August 1 work in process inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 48,000 units were started Into production. The August 31 work in process inventory consisted of 8.000 units that were 100% with respect to materials and 60% complete with respect to conversion The materials cost included in the amount transferred from the Refining Department to Finished Goods is closest to Multiple Choice O $300,380. $311,180. O $281,180 $308,380