Quiz1. (TCO F) Computing unit product costs involves averaging in:
(Points : 5)
2. (TCO F) Process costing would be appropriate for each of the following except: (Points : 5)
custom furniture manufacturing.
3. (TCO F) Unizat Corporation uses the weighted-average method in its process costing system. The following information pertains to one of the company's processing departments for a recent month:
Beginning work in process
Started during the month
Ending work in process
All materials are added at the beginning of the process. The cost per equivalent unit for materials is closest to: (Points : 5)
4. (TCO F) The journal entry to record the incurrence of indirect labor costs is: (Points : 5)
a Wages Payable
b Work In Process
c Manufacturing Overhead
d Wages Payable
Work in Process
5. (TCO F) Stickles Corporation incurred $79,000 of actual Manufacturing Overhead costs during August. During the same period, the Manufacturing Overhead applied to Work in Process was $75,000. The journal entry to record the incurrence of the actual Manufacturing Overhead costs would include a: (Points : 5)
debit to Manufacturing Overhead of $79,000.
credit to Manufacturing Overhead of $79,000.
credit to Work in Process of $75,000.