ACCT 344 DeVry Entire Course

8. Question: (TCO 2) Which firm would make extensive use of job-order costing?
9. Question: (TCO 2) ABC Manufacturing Company has the following total job cards. Job A $6,500 Job B $5,630 Job
C $3,825 Job D $3,800 Job E $6,300 Job F $4,200 Jobs A and B were in Finished Goods Inv. at the beginning of the
month. Jobs C and D were in Work-in-Process at the beginning of the month. Jobs E and F were started during the
month. At the end of the month, Jobs A and E were sent to customers. At the end of the month, Jobs C, E, and F were
completed and sent to finished goods. Which is the cost of goods sold for the month?
10. Question: (TCO 2) Action Corporation uses activity-based costing to apply overhead to jobs within a job-order
costing system. The following overhead activities were budgeted for the year.
ACCT 344 DeVry Week 2 Homework
1. Questions: Kali Manufacturing Inc. began the year with the following.
Beginning work-in-process 20,000
20% complete Transferred to finished goods 60,000
Ending inventory 10,000
70% complete
Materials added at the beginning of the process
Required: Calculate the equivalent units for
a. material costs under the weighted average process cost method;
b. conversion costs under the weighted average process cost method;
c. material costs under the FIFO process cost method; and
d. conversion costs under the FIFO process cost method.
2. Questions: Glass Company manufactures a product through a continuous single-step process. All materials are
added at the beginning of processing. Production and cost data for the company for the current month are as
follows…………………………Required Prepare a cost of production report for current month. Use Weighted Average
process costing.
ACCT 344 DeVry Week 2 Quiz
1. Question: (TCO 3) The appropriate cost accounting system to use when inventory items are produced on an
assembly line is
2. Question: (TCO 3) As production occurs, materials, direct labor, and applied manufacturing overhead are recorded
in
3. Question: (TCO 3) “Equivalent units” expresses all activity of the period in terms of
4. Question: (TCO 3) Holly Inc. manufactures dolls. The following data were provided for production results for the
current month. 0 Units, beginning work-in-process 300 Units started ? Units completed 100 Units, ending work-inprocess
(40% complete) Which are the equivalent units?
5. Question: (TCO 3) When products and their costs are moved from one process to the next process, these costs are
referred to as
6. Question: (TCO 3) Keller Inc. manufactures office chairs. The following data were provided for production results for
the current month. 0 Units, beginning work-in-process 6,000 Units started ? Units completed 2,000 Units, ending workin-process
$440,000 Cost of direct materials $64,000 Cost of conversion Ending inventory is 100% complete for
materials and 20% complete for conversion. How many units were started and completed?
7. Question: (TCO 3) The two methods used to determine equivalent units of production are
8. Question: (TCO 3) Abby Corp. adds raw materials to production at the beginning of the process in the Assembly
Dept. Materials data for this department for the current month are as follows.