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51) If all direct materials added at the end of

Question : 51) If all direct materials added at the end of : 1876972

51) If all direct materials are added at the end of the production process, and the units have made it 50% of the way through the production process, then the percentage completion for direct materials is 50%.

52) If all direct materials are added at the end of the production process, and the units have made it 50% of the way through the production process, then the percentage completion for direct materials is 0%.

53) If conversion costs are added evenly throughout the production process, and the units have made it 50% of the way through the production process, then the percentage completion for conversion costs is 50%.

54) The weighted average and FIFO methods differ only in how they treat beginning inventory.

55) The FIFO method requires that any units in beginning inventory be costed separately from any units started in the current period.

56) The weighted-average method of process costing is simpler than the FIFO method.

57) In process costing, ________ is/are found by taking the number of partially completed physical units and multiplying it by the percentage of the process completed.

A) Cost of Goods Sold

B) equivalent units

C) fixed Manufacturing Overhead costs

D) conversion costs

58) Manufacturing costs are usually combined into two categories in a process costing system. These two categories are

A) direct labor and conversion costs.

B) direct materials and conversion costs.

C) Manufacturing Overhead and conversion costs.

D) direct materials and direct labor.

59) If all direct materials are added at the end of the production process, and the units have made it 50% of the way through the production process, then the percentage completion for direct materials is

A) 50%.

B) 100%.

C) 0%.

D) none of the above.

60) If all direct materials are added at the beginning of the production process, and the units have made it 50% of the way through the production process, then the percentage completion for direct materials is

A) 100%.

B) 0%.

C) 50%.

D) none of the above.

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Accounting 8 Months Ago 11 Views
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