Quiz Process Costing
Quiz Process Costing
6. Equivalent units for a process costing system using Marlan Manufacturing produces a product that passes
the FIFO method would be equal to: through two processing departments. The units from
the Molding Department are completed in the Assembly Puri Corporation uses the FIFO method in its process
Department. The activity in the Assembly Department costing system. Data concerning the first processing
for the current month is presented below. Marlan uses department for the most recent month are listed below:
the FIFO method in its process costing system. Beginning work in process inventory:
Units in beginning work in process inventory, 400
Units in beginning work in process inventory (materials Materials costs P4,800
0% complete; conversion 25% complete) 8,000 Conversion costs P3,300
Units transferred in from the Molding Department Percentage complete with respect to materials 85%
Percentage complete with respect to conversion 45%
during the month 42,000
Units started into production during the month 5,800
Units completed and transferred to finished goods …. Units transferred to the next department during the month 5,100
38,000 Materials costs added during the month P69,500
Units in ending work in process inventory (materials 0% Conversion costs added during the month P82,300
complete; conversion 40% complete) 12,000 Ending work in process inventory:
Units in ending work in process inventory 1,100
10. The equivalent units (with respect to the Molding Percentage complete with respect to materials 55%
Department's costs) transferred from the Molding Percentage complete with respect to conversion 45%
Department to the Assembly during the month
were: Note: Your answers may differ from those offered
A) 30,000 units below due to rounding error. In all cases, select the
B) 38,000 units answer that is the closest to the answer you computed.
C) 40,800 units To reduce rounding error, carry out all computations to
D) 42,000 units at least three decimal places.
11. The equivalent units for materials for the Assembly 15. What are the equivalent units for materials for the
Department during the month were: month in the first processing department?
A) 30,000 units A) 605
B) 38,000 units B) 6,200
C) 40,800 units C) 4,700
D) 42,000 units D) 5,365
12. The equivalent units for conversion costs for the 16. The cost per equivalent unit for conversion costs for
Assembly Department during the month were: the first department for the month is closest to:
A) 36,800 units A) P15.20
B) 38,000 units B) P18.33
C) 40,800 units C) P15.96
D) 42,800 units D) P16.14
The information below was obtained from the records 17. The total cost transferred from the first processing
of Bapst Company for the month of May. The company department to the next processing department
uses the FIFO method in its process costing system. during the month is closest to:
Units Labor and Overhead A) P159,900
Percent Complete B) P151,800
WIP, May 1 3,000 30% C) P174,549
Started into production 20,000 D) P144,540
WIP, May 31 4,000 40%
Mullins Corporation uses the FIFO method in its process
costing system. Data concerning the first processing
All materials are added at the beginning of the department for the most recent month are listed below:
manufacturing process. Beginning work in process inventory:
Units in beginning work in process inventory 700
13. The equivalent units for material for the month are: Materials costs P11,500
A) 21,600 units Conversion costs . P22,200
B) 22,500 units Percentage complete with respect to materials 75%
C) 16,000 units Percentage complete with respect to conversion 65%
D) 20,000 units Units started into production during the month 8,600
Units transferred to the next department during the month 7,800
Materials costs added during the month P159,300
14. The equivalent units for labor and overhead for the
Conversion costs added during the month P348,500
month are: Ending work in process inventory:
A) 17,600 units Units in ending work in process inventory 1,500
B) 18,500 units Percentage complete with respect to materials 65%
C) 19,700 units Percentage complete with respect to conversion 50%
D) 21,600 units
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 25. The equivalent units for labor and overhead for
at least three decimal places. March, using the weighted-average method, are:
18. What are the equivalent units for materials for the A) 69,600 units
month in the first processing department? B) 67,800 units
A) 975 C) 71,000 units
B) 8,250 D) 69,000 units
C) 9,300
D) 7,100 26. The equivalent units for materials for March, using
the weighted-average method, are:
19. What are the equivalent units for conversion costs A) 69,000 units
for the month in the first processing department? B) 65,000 units
A) 8,095 C) 68,400 units
B) 7,100 D) 67,000 units
C) 9,300
D) 750
20. The cost per equivalent unit for materials for the
month in the first processing department is closest
to:
A) P20.42
B) P21.90
C) P19.31
D) P17.13
21. The cost per equivalent unit for conversion costs for
the first department for the month is closest to:
A) P48.79
B) P45.20
C) P44.68
D) P43.05
22. The cost per equivalent whole unit for the month in
the first processing department is closest to:
A) P62.36
B) P76.27
C) P66.10
D) P58.23