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Process Costing Quiz 4 (25 MCQs)

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1. Beginning inventory:200 units300 units transferred in150 units transferred outHow many units in ending inventory?
2. Other name for normal loss is
3. A characteristic of products that are mass-produced in a continuous fashion is that..
4. BONUS!!! Who is the Lab lecturer. Your Cost Accounting?
5. Units in a process that are 70% complete are referred to as:
6. Which is not a similarity between job order costing and process costing?
7. The major benefit of the FIFO method is simplicity.
8. Which of the following businesses is likely to adopt a process costing system?
9. When partially completed units are converted to a comparable number of completed units, they are referred to as?
10. Units were completed this period; 50 units are still in process that are 30% complete. How many total equivalent units were produced?
11. The loss which arises due to abnormal circumstances is _____ loss.
12. In a production cost report, which one of the following sections is not shown under Costs?
13. When manufacturing overhead costs are assigned to production in a process costing system, they are debited to
14. BONUS!!! How old is Ko Hadi?
15. Scrap value of normal loss is _____ to process account.
16. What report shows equivalent units of production, costs, and assignment of costs for a department?
17. There are 1, 000 units in process at the end of the period. They are 40% complete with respect to conversation. Direct materials are added at the end of the process. How many EUP for direct materials?
18. A unit cost calculated in costing system, by assigning total costs incurred to many similar units is categorized as
19. An item of low value incidentally arising in a process is called _____
20. BONUS!!! How much does Ko Hadi weigh?
21. Costs that were incurred in a previous department that are brought into this department as part of a product's cost are
22. BONUS!!!How many ex Ko Hadi?
23. Gloria Company had no beginning work in process. During the period, 16, 000 units were completed, and there were 1, 200 units of ending work in process. How many units were started into production?
24. In a process costing system loss might be:
25. Which of the following is NOT a characteristic of a process costing system?
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