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Glendale Company is using process costing system. The following were taken from the books for Department 2 for the month of June. Quality control inspection is done when the units are 80% completed and materials are added 100% after inspection. 50,000 Units received 40,000 Units completed and transferred 5,000 Units in process, end (60% completed) Units lost (normal) 5,000 1. Equivalent production for materials is: a. 50,000 b. 45,000 c. 40,000 d. 43,000 2. Equivalent production for conversion costs is: a. 43,000 b. 44,000 c. 47,000 d. 45,000 Same data as in 1 & 2, this time we assume that the units in process, end are 90% completed. 3. Equivalent production for materials is: a. 50,000 b. 45,000 c. 40,000 d. 43,000 4. Equivalent production for conversion costs is: a. 43,000 b. 44,000 c. 44,500 d. 48,500

Glendale Company is using process costing system. The following were taken from the books for Department 2 for the month of June. Quality control inspection is done when the units are 80% completed and materials are added 100% after inspection. 50,000 Units received 40,000 Units completed and transferred 5,000 Units in process, end (60% completed) Units lost (normal) 5,000 1. Equivalent production for materials is: a. 50,000 b. 45,000 c. 40,000 d. 43,000 2. Equivalent production for conversion costs is: a. 43,000 b. 44,000 c. 47,000 d. 45,000 Same data as in 1 & 2, this time we assume that the units in process, end are 90% completed. 3. Equivalent production for materials is: a. 50,000 b. 45,000 c. 40,000 d. 43,000 4. Equivalent production for conversion costs is: a. 43,000 b. 44,000 c. 44,500 d. 48,500

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Cost Accounting 310 MULTIPLE CHOICE Glendale Company is using process costing system. The following were taken from the books for Department 2 for the month of June. Quality control inspection is done when the units are 80% completed and materials are added 100% after inspection. 50,000 Units received 40,000 Units completed and transferred Units in process, end (60% completed) Units lost (normal) 5,000 5,000 1. Equivalent production for materials is: a. 50,000 b. 45,000 c. 40,000 d. 43,000 2. Equivalent production for conversion costs is: a. 43,000 b. 44,000 c. 47,000 d. 45,000 Same data as in 1 & 2, this time we assume that the units in process, end are 90% completed. 3. Equivalent production for materials is: a. 50,000 b. 45,000 c. 40,000 d. 43,000 4. Equivalent production for conversion costs is: a. 43,000 b. 44,000 c. 44,500 d. 48,500 Same data as in 1 & 2, this time we assume that the lost units are classified as abnormal. 5. Equivalent production for materials is: a. 50,000 b. 45,000 c. 40,000 d. 48,000
Transcribed Image Text:Cost Accounting 310 MULTIPLE CHOICE Glendale Company is using process costing system. The following were taken from the books for Department 2 for the month of June. Quality control inspection is done when the units are 80% completed and materials are added 100% after inspection. 50,000 Units received 40,000 Units completed and transferred Units in process, end (60% completed) Units lost (normal) 5,000 5,000 1. Equivalent production for materials is: a. 50,000 b. 45,000 c. 40,000 d. 43,000 2. Equivalent production for conversion costs is: a. 43,000 b. 44,000 c. 47,000 d. 45,000 Same data as in 1 & 2, this time we assume that the units in process, end are 90% completed. 3. Equivalent production for materials is: a. 50,000 b. 45,000 c. 40,000 d. 43,000 4. Equivalent production for conversion costs is: a. 43,000 b. 44,000 c. 44,500 d. 48,500 Same data as in 1 & 2, this time we assume that the lost units are classified as abnormal. 5. Equivalent production for materials is: a. 50,000 b. 45,000 c. 40,000 d. 48,000
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