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Chapter 18: Process Costing

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Horngren'S Financial And Managerial Accounting
Pages: 961 - 1027

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82 Questions for Chapter 18: Process Costing

  1. The Packaging Department started the month with 600 units in process, received 1,200 units from the Finishing Department, and transferred 1,500 units to Finished Goods. Direct materials are added at the beginning of the process and conversion costs are incurred evenly. The units still in process at the end of the month are 60% complete for conversion costs. Calculate the number of units still in process at the end of the month and the equivalent units of production. The company uses the weighted-average method.

    Found on Page 1008
  2. The Finishing Department reports the following data for the month:

    Found on Page 1009
  3. Most companies using a process costing systems have to calculate more than one EUP. Why? How many do they have to calculate?

    Found on Page 1006
  4. What is the weighted-average method for process costing systems?

    Found on Page 1006
  5. Miller Company sells several products. Sales reports show that the sales volume of its most popular product has increased the past three quarters while overall profits have decreased. How might production cost reports assist management in making decisions about this product?

    Found on Page 1009
  6. What is the purpose of the Costs Accounted For section of the production cost report?

    Found on Page 1006
  7. Refer to Short Exercise S18A-15. At Spring Fresh, water is added at the beginning of the filtration process. Conversion costs are added evenly throughout the process. Now assume that in February, 130,000 liters were completed and transferred out of the Filtration Department into the Bottling Department. The 70,000 liters remaining in Filtration’s ending Work-in-Process Inventory were 80% of the way through the filtration process. Recall that Spring Fresh has no beginning inventories.

    Found on Page 1010
  8. For each of the following products or services, indicate if the cost would most likely be determined using a job order costing system or a process costing system.

    Found on Page 1010
  9. What are transferred in costs? When do they occur?

    Found on Page 1006
  10. Question: What are the four steps in preparing a production cost report?

    Found on Page 1006

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