Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Questions are in the photo. Thank you! 1 The Assembly Department started the month with 35,000 units in its beginning workin-process inventory. Additional units 472,000

Questions are in the photo. Thank you!

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
1 The Assembly Department started the month with 35,000 units in its beginning workin-process inventory. Additional units 472,000 were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 34,000 units in the ending work-in-process inventory of the Assembly Department. How many units were transferred to the next processing department during the month? Multiple Choice 0 O O 0 507,000 units. 473,000 units. 471,000 units. 541.000 units. Chapter 6 Multiple Choice 2 Which of the following is true about process costing? Multiple Choice 10 points O Unit costs are computed by job on the job cost sheet eBook Print O The department production report is the key document showing the accumulation and disposition of costs by a department. O Costs are accumulated by individual job, regardless of the accounting period during which the work is done. O All units of product are different.Assume that there is no beginning work-in-process inventory. and the ending work-in-process inventory is 50% complete with respect to conversion costs. What would be the number of equivalent units of production with respect to conversion costs under the weighted-average method? Multiple Choice 0 The same as the units completed. The same as the units started during the period. Less than the units started during the period. 0 Less than the units completed. Overland, |nc., uses the weighted-average method in its process costing system. The company's workin-process inventory on April 30 consists of 25,000 units. The units in the ending inventory are 100% complete with respect to materials and 75% complete with respect to conversion costs. If the cost per equivalent unit is $3.00 for materials and $5.50 for conversion costs, what is the total cost in the April 30 work-inprocess inventory? Multiple Choice 0 $212,500. 0 $178,125. 0 $159,375. 0 $109,375. The Nichols Company uses the weighted-average method in its process costing system The company recorded 29,500 equivalent units of production for conversion costs for November in a particular department. There were 6,000 units in the ending work-inprocess inventory on November 30, 75% complete with respect to conversion costs. The November 1 work-inprocess inventory consisted of 8,000 units, 50% complete with respect to conversion costs. A total of 25,000 units were completed and transferred out of the department during the month What was the number of units started during November in the department? Multiple Choice 0 24,500 units. 0 23,000 units. 0 27.000 units. 0 21,000 units

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

Horngrens Financial & Managerial Accounting The Financial Chapters

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

4th Edition

0133255573, 978-0133255577

More Books

Students also viewed these Accounting questions

Question

Self-confidence

Answered: 1 week ago

Question

The number of people commenting on the statement

Answered: 1 week ago