11/23/22, 8:44 AM True or False: Cost Accounting and Control MA 3-A

True or False
Due
Nov 23 at 8:45am
Points
25
Questions
25
Available
Nov 23 at 8:30am - Nov 23 at 8:45am
15 minutes
Time Limit
10 Minutes

Attempt History
Attempt Time Score
LATEST Attempt 1
10 minutes 21 out of 25

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Correct answers are hidden.

Score for this quiz:

21 out of 25
Submitted Nov 23 at 8:44am
This attempt took 10 minutes.

Question 1 1
/ 1 pts

Weighted average equivalent units of production (EUP) can be determined by adding EUP’s in
ending work in process to units transferred out

 
True

 
False

https://usls.instructure.com/courses/18990/quizzes/193766 1/12
11/23/22, 8:44 AM True or False: Cost Accounting and Control MA 3-A

Question 2 1
/ 1 pts

Using FIFO costing, equivalent units of production (EUP) can be determined by subtracting EUP’s in
Beginning work in process from weighted average EUP.

 
True

 
False

Question 3 1
/ 1 pts

A hybrid costing system would be appropriate for a company that manufactures several varieties of
jam.

 
True

 
False

Question 4 1
/ 1 pts

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11/23/22, 8:44 AM True or False: Cost Accounting and Control MA 3-A

A hybrid costing system would be appropriate for a company that manufactures cake flour

 
True

 
False

Question 5 1
/ 1 pts

The FIFO costing method assumes that units in beginning inventory are the first units transferred

 
True

 
False

Question 6 1
/ 1 pts

The weighted average costing method assumes that units in beginning inventory are the first units
transferred.

 
True

https://usls.instructure.com/courses/18990/quizzes/193766 3/12
11/23/22, 8:44 AM True or False: Cost Accounting and Control MA 3-A

 
False

Question 7 1
/ 1 pts

The numerator in the formula for equivalent units includes all beginning inventory costs when using
the FIFO costing assumption.

 
True

 
False

Question 8 1
/ 1 pts

The numerator in the formula for equivalent units includes all beginning inventory costs when using
the weighted average costing assumption.

 
True

 
False

https://usls.instructure.com/courses/18990/quizzes/193766 4/12
11/23/22, 8:44 AM True or False: Cost Accounting and Control MA 3-A

Incorrect
Question 9 0
/ 1 pts

The FIFO method separates beginning inventory and current production to compute cost per unit of
production.

 
True

 
False

Question 10 1
/ 1 pts

The weighted average method separates beginning inventory and current production to compute cost
per unit of production.

 
True

 
False

Question 11 1
/ 1 pts

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11/23/22, 8:44 AM True or False: Cost Accounting and Control MA 3-A

The FIFO method combines beginning inventory and current production to compute cost per unit of
production.

 
True

 
False

Question 12 1
/ 1 pts

The weighted average method combines beginning inventory and current production to compute cost
per unit of production.

 
True

 
False

Question 13 1
/ 1 pts

Equivalent units are computed to assign costs to partially completed units

https://usls.instructure.com/courses/18990/quizzes/193766 6/12
11/23/22, 8:44 AM True or False: Cost Accounting and Control MA 3-A

 
True

 
False

Question 14 1
/ 1 pts

Conversion costs include all manufacturing costs other than direct materials

 
True

 
False

Question 15 1
/ 1 pts

Process costing is most appropriate when manufacturing large batches of homogenous products.

 
True

 
False

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11/23/22, 8:44 AM True or False: Cost Accounting and Control MA 3-A

Question 16 1
/ 1 pts

Beginning work in process of 6,000 units was 40% done.  If it was completed during the current
period, equivalent units of production (FIFO) must be 2,400.

 
True

 
False

Question 17 1
/ 1 pts

EUP under FIFO and average methods are equal when there is no beginning inventory of work in
process.

 
True

 
False

Question 18 1
/ 1 pts

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11/23/22, 8:44 AM True or False: Cost Accounting and Control MA 3-A

The unit costs in Departments A and B for the last two months were as follows:

                        March     April

Dept A              5             10       

Dept B              8              12

As of April 30, there are 5,000 units still in process in Dept B, 1/5 done.  These were finished in Dept
A in March and transferred to Dept B in April.

 
True

 
False

Question 19 1
/ 1 pts

When goods are processed in consecutive producing departments, work in process inventory as of
any date must be the total of the goods in process in all the said departments.

 
True

 
False

https://usls.instructure.com/courses/18990/quizzes/193766 9/12
11/23/22, 8:44 AM True or False: Cost Accounting and Control MA 3-A

Question 20 1
/ 1 pts

When a company operates consecutive producing departments, the unit cost of a unit of finished
product must be the total of the departmental unit costs for the current month.

 
True

 
False

Question 21 1
/ 1 pts

When materials are added at the start of the process, equivalent production of beginning work in
process must be zero and for ending work in process, 100%.

 
True

 
False

Incorrect
Question 22 0
/ 1 pts

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11/23/22, 8:44 AM True or False: Cost Accounting and Control MA 3-A

In a company with consecutive producing departments, cost of goods manufactured must be equal to
total cost transferred out by all the producing departments.

 
True

 
False

Incorrect
Question 23 0
/ 1 pts

The cost of a unit transferred to stockroom must be equal to total cost transferred out by the last
department divided by the corresponding number of units.

 
True

 
False

Incorrect Question 24 0
/ 1 pts

The equivalent units of production under even and uneven applications of cost must be equal if there
is no beginning or ending work in process inventory.

https://usls.instructure.com/courses/18990/quizzes/193766 11/12
11/23/22, 8:44 AM True or False: Cost Accounting and Control MA 3-A

 
True

 
False

Question 25 1
/ 1 pts

Cost to be accounted for appear as debits in the work in process account while cost accounted for
(excluding ending work in process) appear as credits.

 
True

 
False

Quiz Score:
21 out of 25

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