1.)    Costs assigned to the building of a house should appear on the income statement when

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2.)    The basic document for keeping track of costs in a job order costing system is a

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3.)    The following information is available at the end of May:

If $72,400 of materials were charged to Job 88’s job cost card, how much overhead was applied to Job 88?

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4.)    Unit costs for each job are computed by dividing

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5.)    The _________ provide(s) the most direct means of calculating unit costs for a job.

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6.)    The following information is available at the end of the period for the completed Job 713:

What is the unit cost for Job 713?

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7.)    The balance in the Work in Process account equals the

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8.)    Actual overhead during the year was more than applied overhead,  the journal entry to close the Overhead account for the difference?

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9.)    Which one of the following entries includes the initial application of indirect labor to production?

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10.)Service organizations incur little or no cost for

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11.)The following partially completed T accounts summarize the transactions of Carlton Company for last year:

At the end of the year, the company closes out the balance in the Overhead account to Cost of Goods Sold.

The cost of goods manufactured is

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12.)The following partially completed T accounts summarize the transactions of Carlton Company for last year:

At the end of the year, the company closes out the balance in the Overhead account to Cost of Goods Sold.

The cost of goods sold (after adjusting for under- or overapplied overhead) is

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13.)The following partially completed T accounts summarize the transactions of Carlton Company for last year:

At the end of the year, the company closes out the balance in the Overhead account to Cost of Goods Sold.

The applied overhead is

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14.)In cost-plus contracts, the “plus” represents

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15.)Which of the following could not be learned by analyzing job order cost cards?

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16.)                        Process costing is applicable to production operations that

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17.)                        A process costing system accounts for product costs

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18.)                        In a process costing system, the cost of ending work in process inventory for a period can be verified by reference to supporting analysis in

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19.)                        Use the following data from a company using a process costing system to answer the question(s) below.

 
The FIFO process costing method is used by the company. 
 
Units completed and transferred out of the department during the month totaled

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20.)                        Use the following data from a company using a process costing system to answer the question(s) below.

 
The FIFO process costing method is used by the company. 
 
Equivalent units for direct materials during the month totaled

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21.)                        The Taylor Company uses a process costing system. Assume that direct materials are added at the beginning of the period and that direct labor and overhead are added continuously throughout the process. The company uses the FIFO costing method. The following data are available for one of its accounting periods:

 
Equivalent units for direct materials are

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22.)                        Which of the following is not included in conversion costs?

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23.)                        During March, Department A started 300,000 units of product in a particular production process. The beginning work in process inventory was 50,000 units, and the ending inventory was 40,000 units. Direct materials are introduced at the start of processing, and beginning and ending inventories are considered to be 40 percent complete with respect to conversion costs. Department A uses the FIFO costing method. 
 
The number of equivalent units produced with respect to conversion costs was

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24.)                        The following unit data were assembled for the heating process of Morgan Processing, Inc., for the month of August. Direct materials are added at the beginning of the process. Conversion costs are added uniformly over the production process. The company uses the FIFO process costing method.

 
The number of equivalent units produced with respect to conversion costs is

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25.)                        The following unit data were assembled for the heating process of Morgan Processing, Inc., for the month of August. Direct materials are added at the beginning of the process. Conversion costs are added uniformly over the production process. The company uses the FIFO process costing method.

 
The number of equivalent units produced with respect to direct materials costs is

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26.)                        A measure of productive output of units for a period of time, expressed in terms of completed whole units, is the definition of

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27.)                        In a process costing system, percentage-of-completion factors normally are obtained from

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28.)                        The use of the FIFO method would result in a company’s process cost report showing

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29.)                        Fantastic Fabricating uses the FIFO method in its process costing system. Beginning inventory in the mixing processing center consisted of 4,000 units, 75 percent complete with respect to conversion costs. Ending work in process inventory consisted of 3,000 units, 60 percent complete with respect to conversion costs. If 11,200 units were transferred to the next processing center during the period, the equivalent units for conversion costs would be

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30.)                        The following data were taken from the accounting records of a company that uses the FIFO method in its process costing system: 
Beginning work in process inventory:  20,000 units (materials 100% complete, conversion costs 60% complete)       
      Started in process during the period: 80,000 units       
      Ending work in process inventory: 30,000 units (materials 100% complete, conversion 
costs 70% complete)       
       
The equivalent units are

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31.)                        Nader, Inc., has the following information available:

 
At the beginning of the period, there were 500 units in process that were 40 percent complete as to conversion costs and 100 percent complete as to direct materials costs. During the current period, 4,300 units were started and completed. Ending inventory contained 320 units that were 80 percent complete as to conversion costs and 100 percent complete as to direct materials costs. (Assume that the company uses the FIFO costing method.) 
 
The cost of completing a unit during the current period was

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32.)                        Information for the current month for Process 3 is shown below.

 
Units completed—60,000 
Units in ending work in process—6,000 
      
Direct materials are added at the beginning of the process. Beginning work in process is 30 percent complete as to conversion costs; ending work in process inventory is 50 percent complete. The cost of ending work in process inventory totaled

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33.)                        Information for the current month for Process D is shown below.

      
Direct materials are added at the beginning of the process. Beginning work in process is 50 percent complete as to conversion costs; ending work in process inventory is 40 percent complete. Determine the cost of ending work in process inventory.

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34.)                        Information for the current month for Process 5 is shown below.

 
Direct materials are added at the beginning of the process. Beginning work in process is 40 percent complete as to conversion costs; ending work in process inventory is 60 percent complete. The cost of ending work in process inventory totaled

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35.)                        The total costs that will be transferred into the Finished Goods Inventory account during the current period are

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36.)                        Weston Company uses the FIFO method in its process costing system. The first processing department, the Welding Department, started the month with 18,000 units in its beginning work in process inventory that were 50 percent complete with respect to conversion costs. The conversion costs in the beginning work in process inventory were $52,200. An additional 55,000 units were started into production during the month. There were 16,000 units in the ending work in process inventory of the Welding Department that were 20 percent complete with respect to conversion costs. A total of $284,160 in conversion costs were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for the month on the department’s process cost report? (Round to three decimal places.)