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1 A company has two processing departments: X and Y. Which of the following enof journal entries would be used to record the transfer between processing depa

and from the final processing department to finished goods?

(Learning Objective 1 Ch4)

A) DR Work in Process Y CR Work in Process X

DR Finished Goods CR Work in Process Y

B) DR Finished Goods CR Work in Process X

DR Finished Goods CR Work in Process Y

C) DR Finished goods CR Work in Process

D) DR Work in Process X CR Work in Process Y

DR Finished Goods R Work in Process X

2 Janner Company uses the weighted-average method in its process costing systeOperating data for the Painting Department for the month of April appear below

Ad MCQs Ch

What were the equivalent units for conversion costs in the Painting Department

(Learning Objective 2 Ch4)

A) 93,760

B) 92,800

C) 91,360

D)

88,000

3 Stover Company uses the weighted-average method in its process costing systeInformation concerning Department A for the month of June follows:

AdQ3

All materials are added at the beginning of the process. The cost per equivalent

materials costs is closest to:

(Learning Objective 4 Ch4)

A) 0.83

B) 0.85

C) 0.97

D) 1.01

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first processing department, the Welding Department, started the month with 1

in its beginning work in process stock. These units were 10% complete with res

conversion costs. The conversion cost in this beginning work in process stock wa

An additional 84,000 units were started into production during the month. 17,00

were in the ending work in process stock of the Welding Department. These unit

70% complete with respect to conversion costs. A total of 836,880 in conversio

were incurred in the department during the month. What would be the cost per

unit for conversion costs for the month? (Round off to three decimal places.)

(Learning Objective 4 Ch4)

A) 8.286

B) 9.000

C) 8.804

D) 9.963

5 Saada Company uses the weighted-average method in its process costing systeFitting Department is the second department in its production process. The data

summarize the department's operations in March. Reference: [Saada Company

MCQs Ch4 Q5

The Fitting Department's production report indicates that the cost per equivalen

conversion cost for March was 5.99.

How much conversion cost was assigned to the units transferred out of the Fittin

Department during March?

(Learning Objective 5 Ch4)

A) 332,445.00

B) 375,573.00

C) 328,012.40

D) 353,410.00

6 The computation of equivalent units under the FIFO method:(Learning Objective 6 Ch4)

A) treats units in the beginning work in process stock as if they were starte

completed during the current period.

B) treats units in the beginning work in process stock as if they represent a

batch of goods distinct from goods started and completed during the cur

period.

C) treats units in the ending work in process stock as if they were started acompleted during the current period.

D) ignores units in the beginning and ending work in process inventories.

7 Jolly Company uses the FIFO method in its process costing system. Beginning stmixing processing centre consisted of 4,000 units, 75% complete with respect to

conversion costs. Ending work in process stock consisted of 3,000 units, 60% corespect to conversion costs. If 12,000 units were transferred to the next process

during the period, the equivalent units for conversion costs would be:

(Learning Objective 6 Ch4)

A) 13,200 units.

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B) 10,800 units.

C) 12,000 units.

D) 13,000 units.

8 The use of the FIFO method would result in the quantity schedule of a companyproduction report showing

(Learning Objective 6 Ch4)

A)units transferred out as one amount with no distinction made for beginn

B) units transferred out as two amountsone for beginning stock and the o

units started and completed during the month.

C) units transferred out as two amountsone for units completed during th

and one for ending stock.

D) units transferred out as three amountsone for beginning stock, one fo

started and completed during the period, and one for ending stock.

9 Leeds Electronics uses the FIFO method in its process costing system. Data concfirst processing department for the most recent month is listed below:

Ad MCQs Ch4 Q9

Note: Your answers may differ from those offered below due to rounding error.

select the answer that is the closest to the answer you computed.The total cost transferred from the first processing department to the next proc

department during the month is closest to:

(Learning Objective 7 Ch4)

A) 369,163

B) 317,194

C) 331,100

D) 340,000

10 Under the FIFO method, the equivalent units of production relate only to work dthe current period.

(Learning Objective 8 Ch4)

A) True

B) False

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