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61) If conversion costs added evenly throughout the production process,

Question : 61) If conversion costs added evenly throughout the production process, : 1876973

61) 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 direct materials is

A) 0%.

B) 100%.

C) 50%.

D) cannot determine

62) 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

A) 0%.

B) 50%.

C) 100%.

D) none of the above.

63) A company uses a process system. The number of equivalent units in ending WIP Inventory regarding direct materials costs and conversion costs is

A) always lower for direct materials.

B) always equal.

C) always lower for conversion costs.

D) none of the above.

64) In a process system, direct labor and Manufacturing Overhead are normally

A) incurred at the end of the process.

B) incurred evenly throughout the process.

C) incurred in full at the beginning of the process.

D) not recorded.

65) Which of the following is a measure of the amount of work done, expressed in complete units of output?

A) Job costing

B) Process costing

C) Conversion costs

D) Equivalent units

66) A business has 175 full-time workers who work 8 hours per day. They have 130 part-time workers who work 4 hours per day. What is the number of full-time equivalent employees?

A) 150

B) 300

C) 238

D) 240

67) The full-time employees at Rocky Corporation work 8 hours per day, while the part-time employees work 6 hours per day. Rocky has 2,250 full-time employees and 900 part-time employees. What is the number of full-time equivalent employees?

A) 2,363

B) 2,925

C) 3,150

D) 2,250

68) Perfect Pigments has 3,500 gallons of paint in WIP Inventory, with 80% of materials already added. What are equivalent units in ending WIP Inventory for materials if the paint is 50% through the process?

A) 2,800

B) 1,750

C) 0

D) 1,050

69) Perfect Pigments has 3,500 gallons of paint in WIP Inventory, with 80% of materials already added. The paint is 50% through the process. Assuming all conversion costs are added evenly throughout the process, what are the equivalent units for conversion costs?

A) 0

B) 1,050

C) 2,800

D) 1,750

70) Color Wheel has 3,500 gallons of paint in WIP Inventory, with 75% of materials already added. What are equivalent units in ending WIP Inventory for materials if the paint is 60% through the process?

A) 2,100

B) 2,625

C) 0

D) 525

Solution
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Accounting 1 Year Ago 18 Views
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