Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
a process cost accounting system is most appropriate when
|
similar products are mass produced
|
|
|
in a process cost system
|
a WIP account is maintained for each process
|
|
|
in a process cost system, unit costs are determined using a
|
denominator of units produced during the period
|
|
|
a product requires processing in two departments, the Baking Department and the Packing Department, before it is complete. Costs transferred out of the Baking Department will be transferred to
|
WIP-Packing Department
|
|
|
Barns and Miller Manufacturing is trying to determine the equivalent units for conversion costs with 10,000 units of ending EIP at 80% completion and 28,000 physical units. There are no beginning units in the department. Conversion costs occur evenly throughout the entire production period. What are the equivalent units for conversion costs for the current period
|
26,000
|
|
|
It is necessary to calculate equivalent units of production in a department because
|
some units worked on in the department are not fully complete
|
|
|
in Moyer Company, the Cutting Department had beginning WIP of 6,000 units, transferred out 16,000 units, and had an ending WIP of 3,000 units. How many units were started by Moyer during the month?
|
13,000
|
|
|
If there are no units in process at the beginning of the period, then
|
the units to be accounted for will equal the units transferred out and the units in process at the end of the period
|
|
|
a production cost reports
|
will show quantity and cost data for a production department
|
|
|
in the production cost report, the total
|
physical units accounted for equal the units to be accounted for
|
