Principles of Accounting Volume 219th EditionOpenStax Publisher: OpenStax CollegeISBN: 9781947172609
Principles of Accounting Volume 2
Solutions for Principles of Accounting Volume 2
Problem 1MC:
Which of the following production characteristics is better suited for process costing and not job...Problem 2MC:
A process costing system Is most likely used by which of the following? airplane manufacturing a...Problem 3MC:
Which of the following is a prime cost? A. direct labor B. work in process inventory C....Problem 4MC:
Which of the following is a conversion cost? A. raw materials B. direct labor C. sales commissions...Problem 5MC:
During production, how are the costs in process costing accumulated? A. to cost of goods sold B. to...Problem 6MC:
Which is nor needed to compute equivalent units of production? A. the percentage of completion for...Problem 7MC:
What is the cost of direct labor f the conversion costs are $330.000 and manufacturing overhead is...Problem 8MC:
What is the conversion cost to manufacture insulated travel cups if the costs are: direct materials,...Problem 9MC:
Which of the following lists contains only conversion costs for an inflatable raft manufacturing...Problem 10MC:
Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the...Problem 11MC:
Beginning inventory and direct material cost added during the month total $55,000. What is the value...Problem 12MC:
The initial processing department had a beginning inventory of 750 units and an ending inventory of...Problem 13MC:
There were 1,000 units in ending inventory after transferring 16,000 units to finished goods...Problem 14MC:
The costs to be accounted for consist of which of the following? A. costs added during the period B....Problem 15MC:
Which of the following is the step in which materials, labor, and overhead are detailed? A....Problem 16MC:
The journal entry to record the $500 of work in process ending inventory that consists of $300 of...Problem 17MC:
Assigning indirect costs to departments is completed by __________________________. applying the...Problem 18MC:
In a process costing system, which account shows the overhead assigned to the department? A. cost of...Problem 19MC:
In a process cost system, factory depreciation expense incurred is debited to _____________________....Problem 4Q:
What is the primary purpose of process costing?Problem 6Q:
Explain conversion costs using an example.Problem 9Q:
How can there be a different number of equivalent units for materials as compared to conversion...Problem 10Q:
Why is the number of equivalent units for materials only sometimes equal to the equivalent units for...Problem 11Q:
What are the four steps involved in determining the cost of inventory transferred from one...Problem 15Q:
March each term with its description.Problem 1EA:
How many units were started into production in a period if there were zero units of beginning work...Problem 2EA:
A company started a new product, and in the first month started 100,000 units. The ending work in...Problem 3EA:
Given the following information, determine the equivalent units of ending work in process for...Problem 4EA:
There were 1,700 units in beginning inventory that were 40% complete with regard to conversion....Problem 5EA:
A company has 1,500 units in ending work in process that are 30% complete after transferring out...Problem 6EA:
There were 2,400 units in ending work in process inventory that were 100% complete with regard to...Problem 7EA:
How many units must be in ending inventory if beginning inventory was 15,000 units, 55,000 Units...Problem 8EA:
How many units must have been completed and transferred if beginning inventory was 75,000 units,...Problem 9EA:
Using the weighted-average method, compute the equivalent units of production if the beginning...Problem 10EA:
Using the weighted-average method, compute the equivalent units of production for a new company that...Problem 11EA:
Mazomanie Farm completed 20,000 units during the quarter and has 2,500 units still in process. The...Problem 12EA:
What are the total costs to account for if a companys beginning inventory had $231,432 in materials,...Problem 13EA:
A company started the month with 8,329 units in work in process inventory. It started 23,142 unit...Problem 14EA:
A production department within a company received materials of $10,000 and conversion costs of...Problem 15EA:
Production data show 35,920 units were transferred out of a stage of production and 6,150 units...Problem 16EA:
Overhead is assigned to the manufacturing department at the rate of $10 per machine hour. There were...Problem 17EA:
Prepare the journal entry to record the factory wages of $28,000 incurred for a single production...Problem 18EA:
Prepare the journal entry to record the transfer of 3,000 units from the packaging department to...Problem 19EA:
Prepare the journal entry to record the sale of 2,000 units that cost $8 per unit and sold for $15...Problem 1EB:
Given the following information, determine the equivalent units of ending work in process for...Problem 2EB:
There were 2.000 units in beginning inventory that were 70% complete with regard to conversion....Problem 3EB:
A company has 100 units in ending work in process that are 40% complete after transferring out 750...Problem 4EB:
There were 1,500 units in ending work in process inventory that were 100% complete with regard to...Problem 5EB:
Using the weighted-average method, compute the equivalent units of production if the beginning...Problem 6EB:
What are the total costs to account for if a companys beginning inventory had $23,432 in materials...Problem 7EB:
A company started the month with 4,519 units in work in process inventory. It started 15,295 units...Problem 8EB:
A production department within a company received materials of $7,000 and conversion costs of $5,000...Problem 9EB:
Production data show 15,200 units were transferred out of a stage of production and 3,500 units...Problem 10EB:
Overhead is assigned to the manufacturing department at the rate of $5 per machine hour. There were...Problem 11EB:
Prepare the journal entry to record the factory wages of $25,000 incurred in the processing...Problem 12EB:
Prepare the journal entry to record the transfer of 3,500 units from the separation department to...Problem 13EB:
Prepare the journal entry to record the sale of 700 units that cost $5 per unit and sold for $15 per...Problem 1PA:
The following product Costs are available for Haworth Company on the production of chairs: direct...Problem 2PA:
The following product costs are available for Arrez Company on the production of DVD cases: direct...Problem 3PA:
Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired...Problem 4PA:
During March, the following costs were charged to the manufacturing department: $14886 for...Problem 5PA:
Materials are added at the beginning of a production process, and ending work in process inventory...Problem 6PA:
Narwhal Swimwear has a beginning work in process inventory of 13,500 units and transferred in...Problem 7PA:
The following data show the units in beginning work in process inventory, the number of units...Problem 8PA:
The finishing department started the month with 700 units in WIP inventory. It received 2.200 units...Problem 9PA:
The packaging department began the month with 500 units that were 100% complete with regard to...Problem 10PA:
Production information shows these costs and units for the smoothing department in August. All...Problem 11PA:
Given the following information, prepare a production report with materials added at the beginning...Problem 12PA:
Complete this production cost report:Problem 13PA:
Selected information from Skylar Studios shows the following: Prepare journal entries to record the...Problem 14PA:
Loanstar had 100 units in beginning inventory before starting 950 units and completing 800 units....Problem 1PB:
The following product costs are available for Stellis Company on the production of erasers: direct...Problem 2PB:
The following product costs are available for Kellee Company on the production of eyeglass frames:...Problem 3PB:
Vexar manufactures nails. Manufacturing is a one-step process where the nails are forged. This is...Problem 4PB:
During March, the following costs were charged to the manufacturing department: $22,500 for...Problem 5PB:
Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units...Problem 6PB:
The following data show the units in beginning work in process inventory, the number of units...Problem 7PB:
The following data show the units in beginning work in process inventory, the number of units...Problem 8PB:
The following data show the units in beginning work in process inventory, the number of units...Problem 9PB:
The finishing department started the month with 600 units in WIP inventory. Lt received 1,500 units...Problem 10PB:
The packaging department began the month with 750 units that were 100% complete with regard to...Problem 11PB:
Production information shows these costs and units for the smoothing department in August. What is...Problem 12PB:
Given the following information, prepare a production report with materials added at the beginning...Problem 13PB:
Selected information from Hernandez Corporation shows the following: Prepare journal entries to...Problem 14PB:
Rexar had 1,000 units in beginning inventory before starting 9.500 units and completing 8,000 units....Browse All Chapters of This Textbook
Chapter 1 - Accounting As A Tool For ManagersChapter 2 - Building Blocks Of Managerial AccountingChapter 3 - Cost-volume-profit AnalysisChapter 4 - Job Order CostingChapter 5 - Process CostingChapter 6 - Activity-based, Variable, And Absorption CostingChapter 7 - BudgetingChapter 8 - Standard Costs And VariancesChapter 9 - Responsibility Accounting And DecentralizationChapter 10 - Short-term Decision Making
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CONCEPTS IN FED TAX 2021 (LL) PKG
21st Edition
ISBN: 9780357532454
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