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: Question 2 options: 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.

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: Question 2 options: 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.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 12E: a. Based on the data in Exercise 17-11, determine the following: 1. Cost of beginning work in...

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Which is nor needed to compute equivalent units of production? A. the percentage of completion for inventory still in process B. the number of units transferred out C. the number of units started and completed D. the material cost per unit
Assuming that there was no beginning work in process inventory and the ending work in process inventory is 50% complete with respect to conversion costs, the number of equivalent units of production with respect to conversion costs under the weighted-average method would be: * O the same if FIFO method was used O lower if FIFO method was used O higher if FIFO method was used O the same as the units completed.
The first step in applying the average cost method when computing for the unit cost is to: a. Add the beginning work in process costs to the current period’s production costs. b. Divide the current period’s production costs by the equivalent units. c. Subtract the beginning work in process costs from the current period’s production costs. d. A and B
True or False 1. Under weighted average method, the equivalent units used to compute the unit costs of ending inventories relate only to work done during the current period. 2. Process costing is used to account for products that needs further processing. 3. Using the weighted average, if materials are added at the start of the process, the EUP for materials is equal to the units completed and transferred.
The first-in, first-out method computes unit costs by O a. confining equivalent units to the work completed during the current period only. O b. dividing total units by units completed this period. the standard-costing method. O c. d. separately identifying the conversion costs of beginning and ending inventories. O e. adding opening inventory units to work-in-process units and dividing by total cost. Tir
With respect to conversion costs, how many equivalent units were calculated for the product that was completed, and how many equivalent units were calculated for the ending balance? Select one: a. 32,000 equivalent units and 8,000 equivalent units b. 19,200 equivalent units and 4,800 equivalent units c. 32,000 equivalent units and 4,800 equivalent units d. 40,000 equivalent units, and 8,000 equivalent units
T or F Conversion cost per equivalent unit equals total conversion costs for the period divided by total equivalent units of conversion costs. T or F Product costs must be allocated to the units transferred out of thedepartment and the partially completed units on hand at the end of the period. T or F Ford is a process manufacturer.
The cost behavior patterns below are lettered A through H. The vertical axes of the graphs represent total dollars of expense, and the horizontal axes represent production in units, machine hours, or direct labor hours. In each case, the zero point is at the intersection of the two axes. Each graph may be used no more than once. Required: Select the graph that matches the lettered cost described here. a. Depreciation of equipmentthe amount of depreciation charged is computed based on the number of machine hours that the equipment was operated. b. Electricity billflat fixed charge, plus a variable cost after a certain number of kilowatt hours are used. c. City water billcomputed as follows: d. Depreciation of equipmentthe amount is computed by the straight-line method. e. Rent on a factory building donated by the citythe agreement calls for a fixed fee payment, unless 200,000 labor hours are worked, in which case no rent need be paid. f. Salaries of repair workersone repair worker is needed for every 1,000 machine hours or less (i.e., 0 to 1,000 hours requires one repair worker, 1,001 to 2,000 hours requires two repair workers, etc.).
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added 50% at the beginning of the process and 50% at the end of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added 50% at the beginning of the process and 50% at the end of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
Please refer to questions to complete.

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	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.