Process Costing
Not what you're looking for?
During May, the number of equivalent full units of materials applied to units produced by Department Q totaled 50,000,
computed as follows: beginning inventory, 7,000 equivalent full units; units started and completed in May, 35,000 equivalent full units; and ending inventory, 8,000 equivalent full units.
1. Refer to the information above. On the basis of this information only:
a. The number of units transferred in May from Department Q to the next process or department was 35,000.
b. There were more units in Department Q's ending inventory than in Department Q's beginning inventory for May.
c. Department Q completed 50,000 units of product during May.
d. Department Q used enough materials during May to produce 50,000 completed units.
2. Refer to the information above. Assuming that the cost of direct materials used by Department Q in May was $210,000, the
materials cost assigned to unfinished units at May 31 would be:
a. $48,000.
b. $63,000.
c. $33,600.
d. Impossible to determine unless we know the percentage of completion for ending inventory units.
Purchase this Solution
Solution Summary
Answers multiple choice questions on Process Costing.
Solution Preview
During May, the number of equivalent full units of materials applied to units produced by Department Q totaled 50,000,
computed as follows: beginning inventory, 7,000 equivalent full units; units started and completed in May, 35,000 equivalent full units; and ending inventory, 8,000 equivalent full units.
1. Refer to the information above. On the basis of this information ...
Purchase this Solution
Free BrainMass Quizzes
Operations Management
This quiz tests a student's knowledge about Operations Management
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media
Managing the Older Worker
This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.