1. Which agency is least likely to usage a process costing system? a. Paper manufacturer b. Soft drink bottler c. Accounting firm d. Petroleum processor
2. Which characteristic is the very same in both task order costing systems and also procedure costing systems? a. Types of product prices b. Flow of expenses with the accounts c. Number of Work-in-Process Inventory accounts d. Method of document keeping
3. Conversion costs are a. direct materials plus straight labor. b. straight labor plus production overhead. c. straight materials plus manufacturing overhead. d. instraight materials plus instraight labor.

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Use the complying with information for Questions 4-6:Burton Company kind of supplies the weighted-average method in its procedure costing device. The Packaging Department started the month with 200 devices in procedure, started 1,500 systems, and had actually 150 units in procedure at the finish of the period. All products are included at the beginning of the procedure, and conversion costs are incurred uniformly. The devices in procedure at the finish of the month are 20% finish with respect to convariation costs. The department incurred the complying with costs: Beginning WIP Added this month Total Direct Materials $200 $3,200 $3,400 Conversion Costs 500 5,820 6,320 Total $700 $9,020 $9,720 4. How many kind of devices were completed and also transferred out? a. 150 units b. 1,500 systems c. 1,350 units d. 1,550 units5. For convariation prices, the equivalent units of production are a. 1,700 units. b. 1,580 systems. c. 1,500 units. d. 1,550 devices. 6. The expense per equivalent unit for direct materials is a. $2.00. b. $4.00. c. $8.00. d. $14.00.
7. The Assembly Department had 4,500 units of start inventory in September, and also 6,000 units were transferred to it from the Cutting Department. The Assembly Department completed 3,000 systems during the month and also transferred them to the Packaging Department. Determine the full variety of devices to account for by the Assembly Department. a. 3,000 systems b. 4,500 units c. 7,500 systems d. 10,500 units
8. The Mixing Department incurred the following costs during the month: Direct Materials Direct Labor Manufacturing Overhead Alsituated Beginning WIP $50 $25 $80 Added this month 225 150 500 Total $275 $175 $580 What is the journal entry to document the prices incurred in the time of the month?(look at pg 1004)
9. Department 1 completed work on 500 units and also transferred them to Department 2. The price of the units was $750. What is the journal enattempt to record the transfer?(look at page 1005)
10. The manager of Gilbert Company supplied the production price report to compare budgeted prices to actual costs and then based bonuses on the results. This is an instance of making use of the reports to a. prepare financial statements. b. manage costs. c. evaluate performance. d. recognize profitable products.

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11A. Which statement is precise concerning the FIFO method for assigning costs in a procedure costing system? a. FIFO approach assumes the first expenses incurred are transferred out. b. FIFO technique merges prices from prior durations via prices from existing periods. c. FIFO strategy assumes the first expenses incurred are still in procedure. d. FIFO approach treats devices in procedure at the start of the duration in the very same manner as units in procedure at the finish of the duration.
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