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The journal entry to record the application of factory overhead to work in process would include a credit to:


A) Work-in-Process.
B) Cost of Goods Sold.
C) Factory Overhead.
D) Materials Inventory.
E) Finished Goods Inventory.

F) A) and D)
G) D) and E)

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Many industries, for example mining and other extractive industries, use process costing to provide information regarding sustainability. Required: Give an example of how a company could use process costing to assist in making decisions regarding sustainability.

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Cost per equivalent unit for materials under the FIFO method is calculated to be (rounded) :


A) $112.103.
B) $49.242.
C) $109.496.
D) $82.757.
E) $60.185.

F) B) and C)
G) All of the above

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Cost per equivalent unit for Material P under the weighted-average method is calculated to be:


A) $5.10.
B) $2.60.
C) $2.50.
D) $2.30.
E) $5.40.

F) A) and B)
G) B) and E)

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Cost per equivalent unit for materials under the weighted-average method is calculated to be:


A) $2.00.
B) $2.40.
C) $3.00.
D) $3.10.
E) $3.20.

F) A) and D)
G) A) and E)

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What are the equivalent units for conversion costs?


A) 1,700 units.
B) 1,800 units.
C) 1,900 units.
D) 2,000 units.

E) A) and D)
F) None of the above

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