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Predetermined overhead rates that rely upon estimated data are often used because actual o
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A、Conversion costs Material G No No
B、Conversion costs Material G No Yes
C、Conversion costs Material G Yes Yes
D、Conversion costs Material G Yes No
A、In a process costing system, there is a work-in-progress account for each processing department.
B、In a process costing system, equivalent units are separately computed for materials and for conversion costs.
C、In a process costing system, overhead can be under- or overapplied, just as in job-order costing.
D、In a process costing system, materials costs are traced to units of products.
A、The flow of costs through the manufacturing accounts is basically the same for process and job-order costing.
B、Direct materials, direct labor and manufacturing overhead are added to Work in Process.
C、When work in process is completed, the costs are transferred to Finished Goods..
D、When finished goods are sold, the costs are transferred to Ending Inventory
Colby Company has a process costing system in which the weighted-average method is used. The company adds all materials at the beginning of the process in the moulding department, which is the first of two stages of its production process. Information concerning the materials used in the moulding department during March is as follows: Materials Units costs Work in progress at March 1 22,000 € 15,480 Units started during March 90,000 € 46,120 Units completed and transferred to next department during March 100,000 What was the materials cost of the work-in-progress inventory at March 31?
A、€ 1,100
B、€ 5,500
C、€ 6,600
D、€ 12,100
A、Direct labor is transferred from the Salaries and Wages Payable account into the manufacturing overhead account
B、Direct labor costs are debited to the appropriate departmental Work in Process account depending upon where the labor was added to the production process.
C、Indirect labor costs are debited to Manufacturing Overhead.
D、Salaries and Wages Payable is credited for the corresponding amounts.
A、Factory equipment depreciation
B、Factory utility expenses
C、Factory equipment rents
D、property taxes and insurance costs
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