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The weighted-average process-costing method calculates the equivalent units by: considering only the work done during the current period the units started during the current period minus the units in ending inventory the units started during the current period plus the units in ending inventory the equivalent units completed during the current period plus the equivalent units in ending inventory

What amount of conversion costs are assigned to the ending Work-in-Process account for June? $101,956.64 $141,111.00 $126,450.50 $188,148.00

Operating income can differ materially between the results for the weighted-average and FIFO methods when: direct materials or conversion costs per unit vary significantly from period to period the physical inventory levels of work in process are large relative to the total number of units transferred out Neither of these answers is correct. Both of these answers is correct.

Under the weighted-average method, the stage of completion of beginning work in process: is relevant in determining the equivalent units must be combined with the work done during the current period to determine the equivalent units is irrelevant in determining the equivalent-unit calculation can almost always be determined with a high degree of precision

Injection Molding, Inc., manufactures plastic moldings for car seats. Its costing system utilizes two cost categories, direct materials and conversion costs. Each product must pass through Department A and Department B. Direct materials are added at the beginning of production. Conversion costs are allocated evenly throughout production.            Data for Department A for February 20X5 are:                   Work in process, beginning inventory, 40% converted          200 units                   Units started during February                                                 600 units                   Work in process, ending inventory                                         100 units            Costs for Department A for February 20X5 are:                   Work in process, beginning inventory:                                        Direct materials                                                 $100,000                                        Conversion costs                                                $100,000                   Direct materials costs added during February                     $1,000,000                   Conversion costs added during February                            $1,250,000 What is the unit cost per equivalent unit in Department A? $1,000 $1,750 $3,500 $3,750

In a process-costing system when goods move from department to department, the accounting for such transfers is relatively simple under: standard costing FIFO costing weighted-average costing operations costing

Hudson Dock Company manufactures boat docks on an assembly line. Its standard costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Finishing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production (so they are using WA only WA costs are evenly allocated).            Data for the Assembly Department for May 20X5 are:                   Work in process, beginning inventory:                            70 units                            Direct materials (100% complete)                            Conversion costs (25% complete)                     Units started during May                                                 40 units                     Work in process, ending inventory:                                 10 units                            Direct materials (100% complete)                            Conversion costs (50% complete)            Costs for May:                   Standard costs for Assembly:                            Direct materials                                           $4,000 per unit                            Conversion costs                                       $16,000 per unit                     Work in process, beginning inventory:                            Direct materials                                                    $140,000                            Conversion costs                                                   $260,000 Which of the following journal entries properly records direct materials requisitions for the work-in-process inventory and direct materials variances, assuming that the Assembly Department used 10% less materials than expected? A. Work in Process — Assembly                                         160,000                            Assembly Department Materials Cost Control                               160,000 B. Work in Process — Assembly                                         160,000                            Direct Materials Variance                                                                 16,000                            Assembly Department Materials Cost Control                               144,000 C. Work in Process — Assembly                                         144,000                            Assembly Department Materials Cost Control                               144,000 D. Work in Process — Assembly                                         144,000                            Direct Materials Variances                                                               16,000                            Assembly Department Materials Cost Control                             160,000’

The purpose of the equivalent-unit computation is to: convert completed units into the amount of partially completed output units that could be made with that quantity of input. assist the business in determining ending inventory. convert partially completed units into the amount of completed output units that could be made with that quantity of input. Both b and c are correct.  

Standard costing is popular among companies that: produce masses of similar or identical products manufacture textiles or ceramics produce a product that uses few direct materials items, and has relatively few operational activities All of these answers are correct.  

Activity-based costing has less applicability in a process-costing environment because: the use of activity-based costing makes the computational process more difficult the products tend to be similar and thus use the resources in a similar manner cost control in process costing is achieved by controlling the cost of the various processes rather than the individual activities Both b and c are correct.