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: A. the same as the units started during the period. B. less than the units started during the period. C. the same as the units completed. D. less than the units completed.
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:less than the units completed.less than the units started during the period.the same as the units completed.the same as the units started during the period.
V4.
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 determining the cost per EUP per cost component under the weighted average method is to * a. add the beginning Work in Process Inventory cost to the current period's production cost.b. divide the current period's production cost by the equivalent units.c. subtract the beginning Work in Process Inventory cost from the current period's production cost.d. divide the current period's production cost into the EUP.
I.-When assigning costs to partially completed units in the ending work in process inventory, it is not necessary to consider the percentage completion of the units under the weighted-average method. II.-The cost per equivalent unit for conversion costs will always be the same under both the FIFO and the weighted-average methods if there is no ending work in process inventory A. Only statement I is true B. Both statements are false C. Both statements are true D. Only statement II is true
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
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
Which TWO of the following statements concerning marginal costing are TRUE? A. Closing inventories are valued at full production cost. B. Fixed costs are treated as a period cost and are charged in full to the income statement of the accounting period in which they are incurred. O.C. Marginal cost is the cost of a unit which would be avoided if that unit were not produced. OD. Contribution is calculated as sales revenue plus all variable costs.
1. I. The EUP will be the same under FIFO method and weighted average methos if there is no beginning work in process inventory.Il. In process costing the cost per unit in a department is found by spreading the period's production costs over the production activity.a. Both statements are false.b. Only statement I is true.c. Only statement Il is true.d. Both statements are true 2. I. Under the weighted average method, the equivalent units used to compute the unit costs of ending inventories relate only to work done during the current period.Il. Discrete production losses are assumed to occur uniformly throughout the process. a. Both statements are true.b. Only statement Il is truec. Both statements are false.d. Only statement I is true.
a. Based on the data in Exercise 20-11 (attached), determine the following:1. Cost of beginning work in process inventory completed this period2. Cost of units transferred to finished goods during the period3. Cost of ending work in process inventory4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest centb. Did the production costs change from the preceding period? Explain.c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?

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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.