62.Refer to the information above. How many units were started in June?
A. 92,000 units.
B. 60,000 units.
C. 160,000 units.
D. 110,000 units.
63.Refer to the information above. What are the equivalent units for materials?
A. 92,000 units.
B. 60,000 units.
C. 160,000 units.
D. 110,000 units.
64.Refer to the information above. What are the equivalent units for direct labor and overhead?
A. 140,000 units.
B. 80,000 units.
C. 160,000 units.
D. 130,000 units.
65.Refer to information above. If direct labor and overhead costs totaled $172,000, what would be the unit cost?
A. $1.23 per unit.
B. $1.08 per unit.
C. $1.56 per unit.
D. $3.44 per unit.
66.Refer to the information above. Assuming that the cost of direct materials used by Department Q in May was $440,000, the materials cost assigned to unfinished units at May 31 would be: Do not round intermediate calculations
A. $55,000.
B. $26,400.
C. $70,400.
D. Impossible to determine unless we know the percentage of completion for ending inventory units.
67.Refer to the information above. On the basis of this information, which of the following statements is true?
A. The number of units transferred in May from Department Q to the next process or department was 37,000.
B. There were more units in Department Q's ending inventory than in Department Q's beginning inventory for May.
C. Department Q completed 48,000 units of product during May.
D. Department Q used enough materials during May to produce 48,000 equivalent units.
68.A summary of work completed with related unit and total costs in a process costing system is called a(n):
A. Equivalent units production form.
B. Cost requisition form.
C. Summary of conversion costs.
D. Production cost report.
69.A typical production cost report will contain all of the following
except:
A. The number of equivalent units.
B. The total cost of production.
C. The costs per equivalent units.
D. The costs assigned to each job.
70.During the month of June, $352,150 of costs were transferred from Department A to Department B. The journal entry to summarize the transfer of these costs includes:
A. A debit to department A for $352,150.
B. A credit to department B for $352,150.
C. A credit to department A for $352,150.
D. No entry is required when costs are transferred between departments.
71.During the month of August, $582,000 of costs were transferred from the Mixing Department to the Baking Department. The journal entry to summarize the transfer of these costs includes:
A. A debit to the Mixing department for $582,000.
B. A debit to the Baking department for $582,000.
C. A credit to the Baking department for $582,000.
D. A debit to Finished Goods Inventory.
72.For the month of December, its first month of operations, the Radcliffe Corporation completed and transferred 800 units of product costing $80,000 to produce to Finished Goods Inventory. If Radcliffe sold 650 units during the same month, how much was cost of goods sold for the same period?
A. $80,000.
B. $8,000.
C. $6,500.
D. $65,000.
73.In evaluating the efficiency of a production department, management should:
A. Consider all costs of production across departments.
B. Consider that department activities only.
C. Consider all corporate-wide period costs.
D. Compare the costs of production across departments.
74.To identify the cause of a change in a product total unit cost, management may:
A. Compute per unit product cost in total.
B. Compute per unit total cost.
C. Compute per unit product cost for each individual production department.
D. Compare prior period to current period per unit product cost in total.