1. A process Pteose ?ndicate the onie correct response cost accounting system is
ID: 2437724 • Letter: 1
Question
1. A process Pteose ?ndicate the onie correct response cost accounting system is most appropriate when variety of different types of materials, labor, and overhead ent products are produced, each one requiring different t b. the focus o C. similar ocus of attention is on a particular job or order products are mass produced ual products are custom made to the specification of customers 2. A process scost system would be used for all of the following products excent system a. chemicals b. computer chips. C. motion pictures d. soft drinks 3, product requires processing in two departments, the Baking Department and then the Packaging Department, before it is completed. Costs transferred out of the Baking Department wil b transferred to a. Finished Goods Inventory. b. Cost of Goods Sold Work in Process-Packaging Department c. d. Manufacturing Overhead 4. Cinder Company had the following department information for the month: Total materials costs Equivalent units of materials Total conversion costs $60,000 10,000 $90,000 20,000 Equivalent units of conversion costs How much is the total manufacturing cost per unit? a. $10.50 b. $5.00 c. $4.50 d. $6.00Explanation / Answer
1) A Process Cost Accounting System is Most Appropriate when :-
Answer is C. Similar Products are Mass-Produced
2) A process cost system would be used for all of the following products except :-
Answer is C. Motion Pictures
3) a product requires Processing in two departments, the baking department and then the Packaging
department, before it is completed. Cost transferred out of the banking department will be transferred
to :-
Answer is C. Work in Process - Packaging Department
4) Total Manufacturing Cost Per Unit :-
Material Cost Per Unit = $60000 / 10000 = $6
Conversion Cost Per Unit = $90000 / 20000 = $4.5
Total Manufacturing Cost Per Unit = $6 + $4.5 = $10.50
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