Business
Business, 27.06.2019 20:30, BreBreDoeCCx

Identify the each statement below as either true or false. 1. the cost per equivalent unit is computed as the total costs of a process divided by the number of equivalent units passing through that process. true false 2. service companies are not able to use process costing. true false 3. costs per job are computed in both job order and process costing systems. true false 4. job order and process operations both combine materials, labor, and overhead in producing products or services. true false

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Business, 12.08.2019 17:30, rosehayden21
The following partially completed process cost summary describes the july production activities of ashad company. its production output is sent to its warehouse for shipping. all direct materials are added to products when processing begins. beginning work in process inventory is 20% complete with respect to conversion.equivalent units of productiondirect materialsconversion units transferred out43,000 43,000 units of ending work in process 4,700 2,820 equivalent units of production47,700 45,820 costs per eupdirect materialsconversion costs of beginning work in process$ 28,450 $3,270 costs incurred this period 667,970 271,650 total costs$696,420 $274,920 units in beginning work in process (all completed during july) 4,200 units started this period 43,500 units completed and transferred out 43,000 units in ending work in process 4,700prepare its process cost summary using the weighted-average method. (round "cost per eup" to 2 decimal places.)costs charged to production total costs to account for total costs accounted for *difference due to rounding cost/unit unit reconciliation units to account for total units to account for total units accounted for total units accounted for equivalent units of production (eup)- weighted average methodunits % materials eup—materials % conversion eup—conversionequivalent units of production cost per eup materials conversiontotal costs costs costs ÷ equivalent units of production eup eup cost per equivalent unit of production cost assignment and reconciliation costs transferred out eup cost per eup total cost direct materials conversion total transferred out costs of ending work in process eup cost per eup total cost direct materials conversion total ending work in process total costs accounted for
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Business, 16.08.2019 08:10, cloudFF
Which of the following is true when computing cost per equivalent unit in a fifo process costing system? a. prior period costs are combined with costs incurred in the current period and then divided by the equivalent units of production.b. costs incurred in the current period are divided by the equivalent units of production.c. total cost to account for is divided by the equivalent units of production.d. equivalent units of production are divided by costs incurred in the current period. e. equivalent units of production are divided by cost to account for.
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Business, 20.09.2019 17:30, chamarabrown6529
Atement as true or false. 1. process cost systems are used to apply costs to similar products that are mass-produced in a continuous fashion. select between true and false 2. a process cost system is used when each finished unit is indistinguishable from another. select between true and false 3. companies that produce soft drinks, movies, and computer chips would all use process cost accounting. select between true and false 4. in a process cost system, costs are tracked by individual jobs. select between true and false 5. job order costing and process costing track different manufacturing cost elements. select between true and false 6. both job order costing and process costing account for direct materials, direct labor, and manufacturing overhead. select between true and false 7. costs flow through the accounts in the same basic way for both job order costing and process costing. select between true and false 8. in a process cost system, only one work in process account is used. select between true and false 9. in a process cost system, costs are summarized in a job cost sheet. select between true and false 10. in a process cost system, the unit cost is cost of each job ÷ units produced for the job.
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Business, 10.10.2019 19:00, AskaWaya
How is the cost per equivalent unit computed? a. total equivalent units divided by total costs to account for b. costs added to production during the month divided by equivalent units in ending wip c. total costs to account for divided by total equivalent units d. costs in beginning wip inventory divided by equivalent units in beginning wip
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