Exercise Chapter 21 A company has two processing departments: A and B. Which of the following entries or sets of journal entries would be used to record the transfer between processing departments and from the final processing department to finished goods? Work in Process-Department B XXX Work in Process-Department A XXX Finished Goods XXX A Work in Process-Department B XXX Finished Goods XXX B. Work in Process XXX Work in Process-Department B XXX Work in Process-Department A XXX Cost of Goods Sold XXX Work in Process-Department B XXX Finished Goods XXX Work in Process-Department A XXX Finished Goods XXX D. Work in Precess-Department B XXX 2. A process costing system: 3. 4. A. uses a separate Work in Process account for each processing department. B. uses a single Work in Process account for the entire company. C. uses a separate Work in Process account for each type of product produced. D. does not use a Work in Process account in any form. The cost of beginning inventory under the weighted-average method is: A. added in with current period costs in determining costs per equivalent unit for a given period. B. ignored in determining the costs per equivalent unit for a given period. C. considered separately from costs incurred during the current period. D. subtracted from current period costs in determining costs per equivalent unit for a given period. The following information pertains to Yaseen Company's Grinding Department for the month of April: Units Materials Costs Beginning work in process. 15,000 Started in April... 40,000 Units completed and transferred out.... 42,500. Ending work in process.. 12.500 $5,500 $18,000 All materials are added at the beginning of the process. Using the weighted average method, the cost per equivalent unit for materials is closest to: A. 50.59 B. $0.55 C. 50.45 5. D. $0.43 Humain Company uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 22,000 units in its beginning work in process inventory that were 20% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $23,320, An additional 97,000 units were started into production during the month and 101,000 units were completed in the Welding Department and transferred to the next processing department. There were 18,000 units in the ending work in process inventory of the Welding Department that were 40% complete with respect to conversion costs. A total of $529,380 in conversion costs were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places.) A. $5.300 B. $5,458 C. $4.603 D. $5.108 6. Kasma Company uses the weighted-average method in its process costing system. Operating data for the Painting Department for the month of April appears below: Beginning work in process inventory Units 1,000 Percent Complete with Respect to Conversion 80% Transferred in from the prior department during April... 98,800 Ending work in process inventory. 8,300 90% What were the equivalent units for conversion costs in the Painting Department for April? A. 106,100 B. 91,500 C. 98,970 D. 106,270 7 Ghamdi Company uses the weighted-average method in its process costing system. The company's ending work in process inventory consists of 10,000 units, 100% complete with respect to materials and 70% complete with respect to labor and overhead. If the costs per equivalent unit are $4.50 for the materials and $2.00 for labor and overhead, the cost of the ending work in process inventory account would be: A. $44,500 B. $50,500 C. $59,000 D. $65,000 Please use the following information to answer Questions 8 to 12 Aliaa Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: Materials costs.. Conversion costs. Cost Percent Complete $10,700 $13,900 70% 50% A total of 5,100 units were started and 4,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Materials costs... Conversion costs. $103,700 $180,900 The ending inventory was 75% complete with respect to materials and 10% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places 8. 9. What are the equivalent units for conversion costs for the month in the first processing department? A. 4,400 B. 4,530 C130 D. 5,700 The cost per equivalent unit for materials for the month in the first processing department is closest to: A. $21.284 B. 520.071 C. $19,292 D. $18,191 10. The cost per equivalent unit for conversion costs for the first department for the month is closest to: A. $34.181 B. $39.932 C.543.002 D. $45.154 11. The total cost transferred from the first processing department to the next processing department during the month is closest to A. 5366,430 B. $284,600 C. 5309.200 D. $282.858 12. The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: 13. A. $26,342 B. $62,679 C. $8,357 D. $83,572 Total conversion costs are $197,600. Physical units are 40,000. There are 4,000 units in ending work in process inventory that are 50% complete as to conversion costs. What is the conversion cost per unit? A. $4.94 B. $5.20 C. $4.49 D. $3.65 14.Total materials costs is $100,000. Equivalent units of production are 25,000. Conversion cost per unit equals $6.00. What is the total manufacturing cost per unit? A. $6.00 B. $4.00 C. $7.00 D. $10.00 15. The Labeling Department reports the following information: Units Completed and Transferred Out Beginning Work in Process Inventory Ending Work in Process Inventory Units 20,000 40,000 80,000 What are the total units to be accounted for by the Labeling Department? A. 100,000 ABCD B. C. D. 120,000 60,000 40,000