Questions:

1. In a company that uses job order costing, the entry to transfer the costs from WIP to Finished Goods would include a debit to Finished Goods equal to the

A. total cost of all units worked on during the period.

B. total cost of all units in batches completed and sold during the period.

C. total cost of all units in batches completed during the period.

D. current period costs related to units in batches completed during the period.

2. An engineering company that uses job order (project) costing should not include which of the following in determining the total estimated overhead?

A. Receptionist salary

B. Engineer salaries

C. Office rent

D. Depreciation of office equipment

3. Marley Mar Company uses job order costing. Their predetermined MOH rate is $15 per direct labor hour.

They started Job 875 in September. As of September 30, the total cost in WIP for Job 875 was $3,650.

They finished the job in October (50 units produced.) Direct materials added to the job in October cost $1,895. Direct labor cost in October was $400 (40 hours). What was the cost per unit for Job 875?

4. Under the FIFO method of process costing , the calculation of cost per equivalent unit of production considers:

A. current period costs only

B. current period costs plus the cost of beginning work in process inventory

C. current period costs plus the cost of ending work in process inventory

D. current period costs less the cost of beginning work in process inventory

5. In a company using process costing (FIFO), there were 600 units in beginning inventory (60% complete with respect to materials costs). What's the units that should be included in the calculation of equivalent units of production for materials?(No decimals.)

6. There were two departments in a company using process costing (FIFO) - Assembly and Finishing. In the Finishing department, there were 5,000 units in ending inventory. The units were 80% complete with respect to Finishing material costs and 75% complete with respect to Finishing Conversion costs. What's the units that should be included in the calculation of equivalent units of production in the Finishing Department for Transferred in (Assembly) costs? (Use commas. No decimals.)