121. A department had 600 units which were 40% complete in beginning Goods in Process Inventory. During the current period, 7,000 units were transferred out. Ending Goods in Process Inventory was 800 units which were 40% complete. Using the FIFO method, what are the equivalent units produced if all direct material and direct labor are added uniformly throughout the process?
A. 7,080
B. 6,960
C. 7,320
D. 7,680
E. 7,800
122. A department had 600 units which were 40% complete in beginning Goods in Process Inventory. During the current period, 7,000 units were transferred out. Ending Goods in Process Inventory was 800 units which were 40% complete. Using the weighted-average method, what are the equivalent units produced if all direct material and direct labor are added uniformly throughout the process?
A. 7,080
B. 6,960
C. 7,320
D. 7,680
E. 7,800
123. A department had 65 units which were 20% complete in beginning Goods in Process Inventory. During the current period, 77 units were transferred out. Ending Goods in Process Inventory was 30 units which were 20% complete. Using the FIFO method, what are the equivalent units produced if all direct material and direct labor are added uniformly throughout the process?
A. 83
B. 70
C. 100
D. 77
E. 107
124. A department had 65 units which were 20% complete in beginning Goods in Process Inventory. During the current period, 77 units were transferred out. Ending Goods in Process Inventory was 30 units which were 20% complete. Using the weighted-average method, what are the equivalent units produced if all direct material and direct labor are added uniformly throughout the process?
A. 83
B. 70
C. 100
D. 77
E. 107
125. The Machining Department started the current month with beginning goods in process inventory of $10,000. During the month, it was assigned the following costs: direct materials, $76,000; direct labor, $24,000; and factory overhead, 50% of direct labor cost. Also, inventory with a cost of $109,000 was transferred out of the department to the next phase in the process. The ending balance of the Goods in Process Inventory account for the Machining Department is:
A. $13,000
B. $1,000
C. $49,000
D. $110,000
E. $3,000
126. The Filtering Department started the current month with beginning goods in process inventory of $55,000. During the month, it was assigned the following costs: direct materials, $77,000; direct labor, $44,000; and factory overhead, 20% of direct material cost. Also, inventory with a cost of $66,000 was transferred out of the department to the next phase in the process. The ending balance of the Goods in Process Inventory account for the Filtering Department is:
A. $66,000
B. $110,000
C. $132,000
D. $125,400
E. $191,400
127. During the current period, Department A finished and transferred 50,000 units to Department B. Of the 50,000 units, 20,000 were one-fifth complete at the beginning of the period and 30,000 were started and completed during the period. Also during the period, 10,000 units were started but brought only to a stage of being three-fifths completed. If the FIFO method is used and $13,000 of overhead was charged to Department A during the period, how much overhead should be allocated to the ending goods in process inventory?
A. $1,615
B. $3,250
C. $2,600
D. $2,500
E. $1,500
128. During the current period, Department A finished and transferred 50,000 units to Department B. Of the 50,000 units, 20,000 were one-fifth complete at the beginning of the period and 30,000 were started and completed during the period. Also during the period, 10,000 units were started but brought only to a stage of being three-fifths completed. If the weighted-average method is used and $14,000 of overhead was charged to Department A during the period, how much overhead should be allocated to the ending goods in process inventory?
A. $1,615
B. $3,250
C. $2,600
D. $2,500
E. $1,500
129. A company uses a process cost accounting system and the FIFO inventory valuation method. Its Assembly Department's beginning inventory consisted of 50,000 units, three-fourths complete with respect to direct labor and overhead. The department started and finished 127,500 units this period. The ending inventory consists of 40,000 units that are one-fourth complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. Goods in Process included direct labor costs of $24,000 and overhead costs of $32,000 for the period. The direct labor cost per equivalent unit is:
A. $0.126
B. $0.160
C. $0.178
D. $0.213
E. $0.373
130. A company uses a process cost accounting system and the weighted-averaage inventory valuation method. Its Assembly Department's beginning inventory consisted of 50,000 units, three-fourths complete with respect to direct labor and overhead. The department started and finished 127,500 units this period. The ending inventory consists of 40,000 units that are one-fourth complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. Goods in Process included direct labor costs of $30,000 and overhead costs of $40,000 for the period. The overhead cost per equivalent unit is:
A. $0.126
B. $0.160
C. $0.178
D. $0.213
E. $0.373
131. The following is an account for a production department, showing its costs for one month:
Goods in Process Inventory
|
Balance 5,400
|
|
Direct materials 21,600
|
|
Direct labor 16,200
|
|
Overhead 10,800
|
|
|
|
Assume that materials are added at the beginning of the production process and that direct labor and overhead are applied uniformly. If the units in ending goods in process inventory cost $4,590, and the started and completed units cost $41,850, what was the cost of completing the units in the beginning goods in process inventory?
A. $12,150
B. $2,160
C. $7,560
D. $54,000
E. $37,260
132. Que Corporation uses a process cost accounting system. The company manufactured certain goods at a cost of $800 and sold them on credit to Are Corporation for $1,075. The complete journal entry to be made by Que at the time of this sale is:
A.
|
Accounts Receivable—Are Corporation
|
1,075
|
|
|
Cost of Goods Sold
|
800
|
|
|
Sales
|
|
1,075
|
|
Finished Goods Inventory
|
|
800
|
|
|
|
|
|
|
|
|
B.
|
Accounts Receivable—Are Corporation
|
1,075
|
|
|
Finished Goods Inventory
|
|
800
|
|
Sales
|
|
275
|
|
|
|
|
|
|
|
|
C.
|
Cost of Goods Sold
|
1,075
|
|
|
Sales
|
|
1,075
|
|
|
|
|
D.
|
Finished Goods Inventory
|
800
|
|
|
Sales
|
1,075
|
|
|
Accounts Receivable—Are Corporation
|
|
1,075
|
|
Cost of Goods Sold
|
|
800
|
|
|
|
|
|
|
|
|
E.
|
Accounts Receivable—Are Corporation
|
1,075
|
|
|
Selling expense
|
800
|
|
|
Sales
|
|
1,075
|
|
Cost of Goods Sold
|
|
800
|
|
|
|
|