ACCT 241 Week 4 Assignment Help 5

ACCT 241 Week 4 Assignment Help 5 | American University 

1.

Lanjan Corporation uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below:

According to the company’s records, the conversion cost in beginning work in process inventory was $92,218 at the beginning of June. Additional conversion costs of $571,618 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places.)

Multiple Choice

·         $9.410

·         $7.521

·         $5.954

·         $9.220

2.

Paceheco Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department’s operations in January.

The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $34,708 and a total of $559,404 in conversion costs were incurred in the department during January. The cost per equivalent unit for conversion costs for January in the Molding Department is closest to:

Multiple Choice

·         $9.503

·         $9.913

·         $9.704

·         $8.459

3.

Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,000 units. The costs and percentage completion of these units in beginning inventory were:

A total of 7,400 units were started and 6,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.

What are the equivalent units for conversion costs for the month in the first processing department?

Multiple Choice

·         8,400

·         7,975

·         6,700

·         1,275

4.

Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 20,000 units, 100% complete with respect to materials cost and 20% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $26,000. A total of 57,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $2.00 for materials and $3.70 for conversion costs. The total cost of the units completed and transferred out of the department was:

Multiple Choice

·         $324,900

·         $381,920

·         $282,720

·         $341,920

5.

Item5

ItemScored

Explanation

Item5

Item 5 1 of 1 points awarded Item Scored

Haffner Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

 What are the equivalent units for materials for the month in the first processing department?

Multiple Choice

·         840

·         6,940

·         7,500

·         6,100

6.

Vallin Manufacturing Corporation’s beginning work in process inventory consisted of 8,200 units, 100% complete with respect to materials cost and 60% complete with respect to conversion costs. The total cost in the beginning inventory was $38,000. During the month, 42,000 units were transferred out. The equivalent unit cost was computed to be $2.70 for materials and $3.20 for conversion costs under the weighted-average method. Given this information, the total cost of the units completed and transferred out was:

Multiple Choice

·         $276,000

·         $205,600

·         $247,800

·         $204,000

7.

Jared Beverage Corporation uses a process costing system to collect costs related to the production of its celery flavored cola. The cola is first processed in a Mixing Department and is then transferred out and finished up in the Bottling Department. The finished cases of cola are then transferred to Finished Goods Inventory. The following information relates to the company’s two departments for the month of January:

How many cases of cola were completed and transferred to Finished Goods Inventory during January?

Multiple Choice

·         70,000

·         63,000

·         58,000

·         77,000

8.

Malcolm Company uses a weighted-average process costing system. All materials at Malcolm are added at the beginning of the production process. The equivalent units for materials at Malcolm would be the sum of:

Multiple Choice

·         units in ending work in process and the units started.

·         units in beginning work in process and the units started.

·         units in ending work in process and the units started and completed.

·         units in beginning work in process and the units started and completed.

9.

In process costing, a separate work in process account is kept for each:

Multiple Choice

·         individual order.

·         equivalent unit.

·         processing department.

·         cost category (i.e., materials, conversion cost).

10.

Assume there was no beginning work in process inventory and the ending work in process inventory is 70% complete with respect to conversion costs. Under the weighted-average method, the number of equivalent units of production with respect to conversion costs would be:

Multiple Choice

·         the same as the units completed.

·         less than the units completed.

·         the same as the units started during the period.

·         less than the units started during the period.