Cosby uses a weighted-average process-costing system.

All materials are added at the

beginning of the process; conversion costs are incurred evenly throughout production. The
company finished 40,000 units during the period and had 15,000 units in progress at year-end,
the latter at the 40% stage of completion. Total material costs amounted to $220,000; conversion
costs were $414,000.

The cost of goods completed is:

$520,000.
$634,000.
$414,000.
$312,000.
None of the answers is correct.

Cosby uses a weighted-average process-costing system. All materials are added at the
beginning of the process; conversion costs are incurred evenly throughout production. The
company finished 40,000 units during the period and had 15,000 units in progress at year-end,
the latter at the 40% stage of completion. Total material costs amounted to $220,000; conversion
costs were $414,000.

The cost of the ending work in process is:

$54,000.
None of the answers is correct.
$195,000.
$78,000.
$114,000.

Gregory, which uses a process-costing system, adds all material at the beginning of production
and incurs conversion cost evenly throughout manufacturing. The information that follows relates
to the period just ended:

Units started and completed: 75,000

Units in ending work-in-process inventory: 15,000, 60% complete

Which of the following choices correctly expresses the total equivalent units of production with
respect to material and conversion cost?

   
Choice E
Choice A
Choice B
Choice C
Choice D
Peach Company uses a weighted-average process-costing system. Company records disclosed
that the firm completed 40,000 units during the month and had 10,000 units in process at month-
end, 20% complete. Conversion costs associated with the beginning work-in-process inventory
amounted to $231,000, and amounts that relate to the current month totaled $966,000. If
conversion is incurred uniformly throughout manufacturing, Peach's equivalent-unit cost is:
$24.15.
None of the answers is correct.
$23.94.
$23.00.
$28.50.

Gilberto adds materials at the beginning of production and incurs conversion cost uniformly
throughout manufacturing. Consider the data that follow.

Conversion cost in the beginning work-in-process inventory totaled $120,000, and August
conversion cost totaled $270,000. Assuming use of the weighted-average method, which of the
following choices correctly depicts the number of equivalent units for materials and the
conversion cost per equivalent unit?

   
Choice D
Choice B
Choice C
Choice A
Choice E

Willingham uses a process-costing system for its single product, which is manufactured from
Material X and Material Y. X and Y are introduced to the product as follows:
Material X: Added at the beginning of manufacturing
Material Y: Added at the 75% stage of completion

The company started and completed 40,000 units during the period, and had an ending work-in-
process inventory amounting to 8,000 units, 20% complete. Which of the following choices
correctly expresses the total equivalent units of production for Material X and Material Y?

   
Choice A
Choice B
Choice C
Choice E
Choice D

Aglow Company uses a process-cost system for its single product. Material A is added at the
beginning of the process; in contrast, material B is added when the units are 50% complete. The
firm's ending work-in-process inventory consists of 4,000 units that are 75% complete. Which of
the following correctly expresses the equivalent units of production with respect to materials A
and B in the ending work-in-process inventory?
A, 3,000; B, 0.
A, 4,000; B, 4,000.
A, 4,000; B, 0.
A, 4,000; B, 3,000.
A, 3,000; B, 3,000.

Michaella, Inc. uses a process-costing system. A newly-hired accountant identified the following
procedures that must be performed by the close of business on Friday:

1—Calculation of equivalent units

2—Analysis of physical flows of units
3—Assignment of costs to completed units and units still in process
4—Calculation of unit costs

Which of the following choices correctly expresses the proper order of the preceding tasks?
2, 1, 3, 4.
1, 2, 3, 4.
2, 1, 4, 3.
1, 4, 3, 2.
1, 2, 4, 3.

Agora Company uses a process-cost system for its single product. Material A is added at the
beginning of the process; in contrast, material B is added when the units are 75% complete. The
firm's ending work-in-process inventory consists of 6,000 units that are 80% complete. Which of
the following correctly expresses the equivalent units of production with respect to materials A
and B in the ending work-in-process inventory?
A, 6,000; B, 4,800.
A, 6,000; B, 0.
A, 4,800; B, 0.
A, 4,800; B, 4,800.
A, 6,000; B, 6,000.

Haskins Textile Co. manufactures a variety of fabrics. All materials are introduced at the
beginning of production; conversion cost is incurred evenly through manufacturing. The Weaving
Department had 2,000 units of work in process on April 1 that were 30% complete as to
conversion costs. During April, 9,000 units were completed and on April 30, 4,000 units remained
in production, 40% complete with respect to conversion costs.

The equivalent units of conversion for April total:

10,600.
12,000.
11,200.
9,000.
12,600.

Haskins Textile Co. manufactures a variety of fabrics. All materials are introduced at the
beginning of production; conversion cost is incurred evenly through manufacturing. The Weaving
Department had 2,000 units of work in process on April 1 that were 30% complete as to
conversion costs. During April, 9,000 units were completed and on April 30, 4,000 units remained
in production, 40% complete with respect to conversion costs.

The equivalent units of direct materials for April total:

13,000.
9,000.
14,400.
15,000.
13,600.

When calculating unit costs under the weighted-average process-costing method, the unit cost is
based on:
a summation of the costs in the beginning work-in-process inventory plus costs incurred in the
current period.
only costs in the period's beginning work-in-process inventory.
only costs incurred in previous accounting periods.
a summation of the costs in the beginning work-in-process inventory plus costs to be incurred in the
upcoming period.
only the current period's manufacturing costs.
Which of the following are needed to calculate the total cost of the ending work-in-process
inventory under the weighted-average process-costing method?
   
Choice B
Choice E
Choice D
Choice C
Choice A

Lester Corporation had 8,200 units of work in process on November 1. During November, 26,800
units were started and as of November 30, 7,900 units remained in production. How many units
were completed during November?
16,100.
26,500.
None of the other answers are correct.
27,100.
42,800.

Southern Lake Chemical manufactures a product called Zubek. Direct materials are added at the
beginning of the process, and conversion activity occurs uniformly throughout production. The
beginning work-in-process inventory is 60% complete with respect to conversion; the ending
work-in-process inventory is 20% complete. The following data pertain to May:

 
Using the weighted-average method of process costing, the equivalent units of direct materials
total:
None of the answers is correct.
74,000.
75,000.
68,000.
69,400.

Which of the following statements is false?

In job-order costing, costs are accumulated by job order.
In job-order costing, the unit cost is found by dividing the job's total cost by the job's total units.
In process costing, costs are accumulated by department.
In process costing, the total cost of each unit is found by dividing the total factory costs by the
number of units completed.
In process costing, the cost per unit in a department is found by spreading the period's
manufacturing costs over the production activity.

Chen Corporation, a new company, adds material at the beginning of its production process;
conversion cost, in contrast, is incurred evenly throughout manufacturing. During May, the firm
completed 15,000 units and had ending work in process of 2,000 units, 60% complete.
Equivalent-unit costs were: materials, $15; conversion, $22.

The cost of Chen's completed production is:

$225,000.
None of the answers is correct.
$555,000.
$333,000.
$330,000.

Chen Corporation, a new company, adds material at the beginning of its production process;
conversion cost, in contrast, is incurred evenly throughout manufacturing. During May, the firm
completed 15,000 units and had ending work in process of 2,000 units, 60% complete.
Equivalent-unit costs were: materials, $15; conversion, $22.

The cost of the company's ending work-in-process inventory is:

$56,400.
None of the answers is correct.
$74,000.
$44,400.
$26,640.

Southern Lake Chemical manufactures a product called Zubek. Direct materials are added at the
beginning of the process, and conversion activity occurs uniformly throughout production. The
beginning work-in-process inventory is 60% complete with respect to conversion; the ending
work-in-process inventory is 20% complete. The following data pertain to May:

 
  

Using the weighted-average method of process costing, the equivalent units of conversion
activity total:
None of the answers is correct.
74,000.
60,400.
69,400.
68,000.

Tesla Corporation, which adds materials at the beginning of production, uses a weighted-
average process-costing system. Consider the data that follow.

The company's cost per equivalent unit for materials is:

None of the answers is correct.
$2.05.
$1.66.
$1.24.
$1.67.

Gajewski began operations on January 1 of the current year. The company uses a process-
costing system, and conversion cost is incurred evenly throughout manufacturing. By January
31, the firm had completed 56,000 units. Which of the following statements is true about the
ending work-in-process inventory if equivalent units for conversion cost totaled 59,000 units?
The ending work-in-process inventory of 10,000 physical units was 30% complete.
The ending work-in-process inventory totaled 3,000 physical units.
The ending work-in-process inventory of 20,000 physical units was 85% complete.
More than one of the other answers is true.
There is no ending work-in-process inventory.
Southern Lake Chemical manufactures a product called Zubek. Direct materials are added at the
beginning of the process, and conversion activity occurs uniformly throughout production. The
beginning work-in-process inventory is 60% complete with respect to conversion; the ending
work-in-process inventory is 20% complete. The following data pertain to May:

Using the weighted-average method of process costing, the cost per unit of conversion activity is:
None of the answers is correct.
$2.50.
$2.70.
$2.76.
$2.53.

When computing the conversion cost per equivalent unit under the weighted-average method of
process costing, all of the following information would be needed except:
the number of units completed during the current accounting period.
the conversion cost in the beginning work-in-process inventory.
the conversion cost incurred during the current accounting period.
the conversion work performed during the current period on the beginning work-in-process
inventory.
the conversion work performed during the current period on the ending work-in-process
inventory.

Corruption, Inc. overstated the percentage of work completed with respect to conversion cost on
the ending work-in-process inventory. What is the effect of this overstatement on conversion-cost
equivalent units and physical units manufactured, respectively?
Overstated, overstated.
Overstated, none.
None, overstated.
Overstated, understated.
None, none.

Fiero Corporation adds all materials at the beginning of production and incurs conversion cost
evenly throughout manufacturing. The company completed 70,000 units during the year and had
12,000 units in process at year end, 20% complete with respect to conversion cost. Equivalent
units for the year total:
materials, 70,000; conversion, 70,000.
materials, 70,000; conversion, 2,400.
materials, 72,400; conversion, 72,400.
materials, 82,000; conversion, 82,000.
materials, 82,000; conversion, 72,400.

Unit costs in a process-costing system are derived by using:

physical units.
completed units.
equivalent units.
in-process units.

Kentucky Corporation uses a process-cost accounting system. The company adds direct
materials at the start of its production process; conversion cost, on the other hand, is incurred
evenly throughout manufacturing. The firm has no beginning work-in-process inventory; its
ending work in process is 40% complete. Which of the following sets of percentages would be
used to calculate the correct number of equivalent units in the ending work-in-process inventory?
Materials, 40%; conversion cost, 40%.
Materials, 40%; conversion cost, 100%.
Materials, 100%; conversion cost, 60%.
Materials, 100%; conversion cost, 100%.
Materials, 100%; conversion cost, 40%.

Universal Manufacturing uses a weighted-average process-costing system. All materials are

introduced at the start of manufacturing, and conversion costs are incurred evenly throughout the
process. The company's beginning and ending work-in-process inventories totaled 10,000 units
and 15,000 units, respectively, with the latter units being 2/3 complete at the end of the period.
Universal started 30,000 units into production and completed 25,000 units. Manufacturing costs
follow.

Beginning work in process: Materials, $60,000; conversion cost, $150,000

Current costs: Materials, $180,000; conversion cost, $480,000

Universal's equivalent-unit cost for materials is:

$8.00.
$6.00.
None of the answers is correct.
$4.50.
$9.60.

Universal Manufacturing uses a weighted-average process-costing system. All materials are

introduced at the start of manufacturing, and conversion costs are incurred evenly throughout the
process. The company's beginning and ending work-in-process inventories totaled 10,000 units
and 15,000 units, respectively, with the latter units being 2/3 complete at the end of the period.
Universal started 30,000 units into production and completed 25,000 units. Manufacturing costs
follow.

Beginning work in process: Materials, $60,000; conversion cost, $150,000

Current costs: Materials, $180,000; conversion cost, $480,000

Universal's equivalent-unit cost for conversion cost is:

None of the answers is correct.
$13.71.
$25.20.
$18.00.
$21.00.
When calculating unit costs under the weighted-average process-costing method, the unit cost is
based on:
only costs in the period's beginning work-in-process inventory.
only costs incurred in previous accounting periods.
a summation of the costs in the beginning work-in-process inventory plus costs to be incurred in
the upcoming period.
only the current period's manufacturing costs.
a summation of the costs in the beginning work-in-process inventory plus costs incurred
in the current period.

Fiero Corporation adds all materials at the beginning of production and incurs conversion cost
evenly throughout manufacturing. The company completed 70,000 units during the year and had
12,000 units in process at year end, 20% complete with respect to conversion cost. Equivalent
units for the year total:
materials, 70,000; conversion, 2,400.
materials, 82,000; conversion, 72,400.
materials, 72,400; conversion, 72,400.
materials, 70,000; conversion, 70,000.
materials, 82,000; conversion, 82,000.

Kentucky Corporation uses a process-cost accounting system. The company adds direct
materials at the start of its production process; conversion cost, on the other hand, is incurred
evenly throughout manufacturing. The firm has no beginning work-in-process inventory; its
ending work in process is 40% complete. Which of the following sets of percentages would be
used to calculate the correct number of equivalent units in the ending work-in-process inventory?
Materials, 100%; conversion cost, 100%.
Materials, 100%; conversion cost, 60%.
Materials, 40%; conversion cost, 40%.
Materials, 100%; conversion cost, 40%.
Materials, 40%; conversion cost, 100%.
Southern Lake Chemical manufactures a product called Zubek. Direct materials are added at the
beginning of the process, and conversion activity occurs uniformly throughout production. The
beginning work-in-process inventory is 60% complete with respect to conversion; the ending
work-in-process inventory is 20% complete. The following data pertain to May:

 
Using the weighted-average method of process costing, the cost per unit of conversion activity is:
$2.76.
$2.53.
$2.50.
$2.70.
None of the answers is correct.

Agora Company uses a process-cost system for its single product. Material A is added at the
beginning of the process; in contrast, material B is added when the units are 75% complete. The
firm's ending work-in-process inventory consists of 6,000 units that are 80% complete. Which of
the following correctly expresses the equivalent units of production with respect to materials A
and B in the ending work-in-process inventory?
A, 4,800; B, 0.
A, 6,000; B, 6,000.
A, 6,000; B, 4,800.
A, 4,800; B, 4,800.
A, 6,000; B, 0.

Which of the following are needed under weighted-average process costing to calculate the cost
of goods completed during the period?

   
Choice D
Choice C
Choice A
Choice E
Choice B

Barrett Corporation had 6,500 units of work in process on April 1. During April, 19,100 units were
completed and as of April 30, 5,100 units remained in production. How many units were started
during April?
11,600.
None of the other answers are correct.
20,500.
30,700.
17,700.

Majesco, which uses a process-costing system, adds material at the beginning of production and
incurs conversion cost evenly throughout manufacturing. The following selected information was
taken from the company's accounting records:

Total equivalent units of materials: 5,000

Total equivalent units of conversion: 4,400
Units started and completed during the period: 3,500

On the basis of this information, the ending work-in-process inventory's stage of completion is:
some other percentage not listed.
60%.
70%.
80%.
40%.

Southern Lake Chemical manufactures a product called Zubek. Direct materials are added at the
beginning of the process, and conversion activity occurs uniformly throughout production. The
beginning work-in-process inventory is 60% complete with respect to conversion; the ending
work-in-process inventory is 20% complete. The following data pertain to May:

Using the weighted-average method of process costing, the total costs remaining in work in
process on May 31 are:
None of the answers is correct.
$0.
$12,040.
$17,480.
$25,640.

Forest Company, which uses a weighted-average process-costing system, had 7,000 units in
production at the end of the current period that were 60% complete. Material A is introduced at
the beginning of the process; material B is introduced at the end of the process; and conversion
cost is introduced evenly throughout manufacturing. Equivalent-unit production costs follow.

Material A: $12.50
Material B: $2.00
Conversion cost: $6.60

The cost of the company's ending work-in-process inventory is:

$147,700.
$88,620.
None of the answers is correct.
$115,220.
$123,620.

Southern Lake Chemical manufactures a product called Zubek. Direct materials are added at the
beginning of the process, and conversion activity occurs uniformly throughout production. The
beginning work-in-process inventory is 60% complete with respect to conversion; the ending
work-in-process inventory is 20% complete. The following data pertain to May:

Using the weighted-average method of process costing, the cost per unit of direct materials is:
$1.18.
$1.28.
$1.17.
None of the answers is correct.
$1.20.

Tesla Corporation, which adds materials at the beginning of production, uses a weighted-
average process-costing system. Consider the data that follow.

The company's cost per equivalent unit for materials is:

$2.05.
$1.66.
$1.24.
$1.67.
None of the answers is correct.

Kendra Corporation uses a process-cost accounting system. The company adds direct materials
and direct labor at the start of its production process; overhead cost is incurred evenly throughout
manufacturing. The firm has no beginning work-in-process inventory; its ending work in process
is 40% complete. Which of the following sets of percentages would be used to calculate the
correct number of equivalent units in the ending work-in-process inventory?
Materials, 40%; labor, 40%; overhead cost, 60%.
Materials, 100%; labor 40%; overhead cost, 40%.
Materials, 40%; labor, 40%; overhead cost, 100%.
Materials, 100%; labor, 100%; overhead cost, 40%.
Materials, 100%; labor, 100%; overhead cost, 100%.

Southern Lake Chemical manufactures a product called Zubek. Direct materials are added at the
beginning of the process, and conversion activity occurs uniformly throughout production. The
beginning work-in-process inventory is 60% complete with respect to conversion; the ending
work-in-process inventory is 20% complete. The following data pertain to May:

Using the weighted-average method of process costing, the cost of goods completed and
transferred during May is:
None of the answers is correct.
$258,400.
$250,240.
$249,560.
$263,840.

Muhares, which uses a process-costing system, adds material at the beginning of production and
incurs conversion cost evenly throughout manufacturing. The following selected information was
taken from the company's accounting records:

Total equivalent units of materials: 8,000

Total equivalent units of conversion: 7,400
Units started and completed during the period: 6,500

On the basis of this information, the ending work-in-process inventory's stage of completion is:
some other percentage
70%.
40%.
80%.
60%

Yes! Co., had 3,000 units of work in process on April 1 that were 60% complete. During April,
11,000 units were started and as of April 30, 4,000 units that were 40% complete remained in
production. How many units were completed during April?
10,000.
11,000.work
9,800.
None of the other answers are correct.
12,200.

Which of the following data are needed to calculate total equivalent units under the weighted-
average method?
Work-to-date on ending work in process, units started during the period.
Work to complete beginning work in process, work-to-date on ending work in process.
Units completed, work to complete beginning work in process.
Work to complete beginning work in process, units completed, and work done on ending work in
process.
Units completed during the period, work-to-date on ending work in process.

Which of the following is true concerning cost drivers for the predetermined overhead rate in a
process-costing system?
If direct material cost is the cost driver, direct labor and direct materials may be combined into
the single element of prime cost.
If direct labor cost is the cost driver, direct labor and manufacturing overhead may be combined
into the single element of conversion cost.
Cost drivers are irrelevant in process-costing systems.
Predetermined overhead rates are not used in a process-costing system.
If direct labor hours is the cost driver, direct labor and manufacturing overhead may be combined
into the single element of conversion cost.

Ohio, Inc., which uses a process-cost accounting system, began operations on January 1 of the
current year. The company incurs conversion cost evenly throughout manufacturing. If Ohio
started work on 3,000 units during the period and these units were 70% of the way through
manufacturing, it would be correct to say that the company has:
900 equivalent units of production.
900 in-process units.
3,000 physical units in production.
3,000 equivalent units of production.
2,100 completed units.

Xin Co., had 3,000 units of work in process on April 1 that were 60% complete. During April,
10,000 units were completed and as of April 30, 4,000 units that were 40% complete remained in
production. How many units were started during April?
11,000.
9,800.
8,600.
12,200.
None of the other answers are correct.