QUESTION 17 1. Kramer, Inc., manufactures a product that passes through two processes: mixing and molding. All manufacturing costs are added uniformly in the mixing department. Information for the mixing department for April follows: Work in process, April 1: Units (35% complete) 5,000 Direct materials $24,000 Direct labor $30,000 Overhead $10,000 2. During April, 25,000 units were completed and transferred to the molding department. The following costs were incurred by the mixing department during April: Direct materials $ 90,000 Direct labor 120,000 Overhead 30,000 3. By April 30, 2,500 units that were 80 percent complete remained in Mixing. Kramer uses the weighted average method. 4. 5. Kramer's cost of goods transferred to the molding department during April would be $210,000 $261,050 $281,500 $294,000 3 points QUESTION 18 1. Which of the following best describes sequential processing? Units must pass sequentially through a process. Units must pass through one process before they can be worked on in later processes. Units which are not processed in the correct sequence will be discarded. Subcomponents can be worked on simultaneously in different processes and then brought together in a final process for completion. 3 points QUESTION 19 1. When should process costing techniques be used in assigning costs to products? Any time production is only partially completed during the accounting period. If the product is composed of mass-produced homogeneous products and production is not always completed as to all elements of production during the accounting period. If the product is manufactured according to customer specifications. All of these. 3 points QUESTION 20 1. The cost of this transferred-in goods is the cost of: materials, labor, and overhead the goods transferred out as computed in the prior department materials and conversion costs materials added and conversion costs 3 points QUESTION 21 1. Setups, material handling, and inspection are all possible examples of: non-unit level overhead activities unit level overhead activities product diversity sustainable development none of these 3 points QUESTION 22 1. ____ are assigned using direct tracing and resource drivers. Resources Costs Profits Materials Products 3 points QUESTION 23 1. Complying with the filing requirements of the IRS is an example of a: recreational activity discretionary activity recommended activity required activity