题目内容

In the cost reconciliation report under the weighted-average method, the “Costs to be accounted for” section contains which of the following items?

A. Cost of beginning work in process inventory
B. Cost of ending work in process inventory
Cost of units transferred out
D. Cost of ending finished goods inventory

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All of the following statements are correct when referring to process costing except:

A. Process costing would be appropriate for a jeweler who makes custom jewelry to order.
B. A process costing system has the same basic purposes as a job-order costing system.
C. Units produced are indistinguishable from each other.
D. Costs are accumulated by department.

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A process costing system is employed in those situations where:

A. many different products, jobs, or batches of production are being produced each period.
B. where manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis.
C. a service is performed such as in a law firm or an accounting firm.
D. full or absorption cost approach is not employed.

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Which of the following types of companies would typically use process costing rather than job-order costing?

A small appliance repair shop.
B. A manufacturer of commercial passenger aircraft.
C. A specialty equipment manufacturer.
D. A breakfast cereal manufacturer.

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Carrington Corporation produces canned vegetable soup. The company uses the weighted-average method in its process costing system. The company sold 300,000 units in January. Data concerning inventories follow: Inventory at January 1: Work in process............................................................................ None Finished goods............................................................................. 75,000 units Inventory at January 31: Work in process (75% complete with respect to conversion costs)... 24,000 units Finished goods................................................................................. 60,000 units What were the equivalent units for conversion costs for January?

A. 285,000 units.
B. 303,000 units
C. 300,000 units
D. 309,000 units

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In the cost reconciliation report under the weighted-average method, the “Costs to be accounted for” section contains which of the following items?

A. Cost of beginning work in process inventory B. Cost of ending work in process inventory Cost of units transferred out D. Cost of ending finished goods inventory

All of the following statements are correct when referring to process costing except:

A process costing system is employed in those situations where:

Which of the following types of companies would typically use process costing rather than job-order costing?

A. Cost of beginning work in process inventory
B. Cost of ending work in process inventory
Cost of units transferred out
D. Cost of ending finished goods inventory