Question
The direct labor and overhead costs of providing services to clients are accumulated in: Select one: a. finished services expense b. work in process c.
The direct labor and overhead costs of providing services to clients are accumulated in:
Select one:
a. finished services expense
b. work in process
c. administrative salaries expense
d. overhead
Department G had 3,600 units, 40% completed at the beginning of the period, 12,000 units were completed during the period, 2,000 units were one-fifth completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period:
Work in process, beginning of period | $60,000 |
Costs added during period: |
|
Direct materials (10,400 at $9.8365) | 102,300 |
Direct labor | 79,800 |
Factory overhead | 25,200 |
Assuming that all direct materials are placed in process at the beginning of production and that the first-in, first-out method of inventory costing is used, what is the material and conversion cost per unit (to the nearest penny), respectively.
Select one:
Select one:
a. $5.94 and $5.86
b. $5.94 and $6.38
c. $8.00 and $8.68
d. $9.84 and $9.58
Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $55,000, $65,000, and $80,000, respectively. In addition, work in process at the beginning of the period for Department 1 totaled $75,000, and work in process at the end of the period totaled $60,000. The journal entry to record the flow of costs into Department 1 during the period for direct materials is:
Select one:
Select one:
a. Work in Process--Department 1 100,000 Materials 100,000
b. Work in Process--Department 1 55,000 Materials 55,000
c. Materials 100,000 Work in Process--Department 1 100,000
d. Materials 55,000 Work in Process--Department 1 55,000
Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July's activities:
On July 1: |
|
Beginning inventories | 850 units, 60% complete |
Direct materials cost | $5,000 |
Conversion costs | $4,000 |
|
|
During July: |
|
Number of units started | 15,000 |
Direct materials added | $155,000 |
Conversion costs added | $83,520 |
|
|
On July 31: |
|
Ending inventories | 1,600 units, 40% complete |
Using the FIFO method, the number of equivalent units of conversion costs was
Select one:
a. 14,400
b. 14,380
c. 14,550
d. 15,850
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