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L15.2030 - Cost Accounting (2025/2026)
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Company X uses process costing and has 2 departments. Direct materials are added at the start of the process and conversion costs are added evenly during the process. The company presented the following information regarding department 2 for June:
Costs assigned to:
|
Weighted average
|
FIFO
|
|
Completed and transferred out
|
$133,730
|
$133,320
|
|
EWIP
|
$9,790
|
$10,200
|
|
Based on the information
above, which of the following is TRUE?
Company X uses the FIFO method of process costing. Direct materials are added when the production process is at 30% and conversion costs are added evenly during the process. The company presented the following information related to March:
|
Physical Units
|
Degree of completion
|
Cost
DM
|
Cost
CC
|
BWIP
|
1000
|
40%
|
$5000
|
$8064
|
Started in March
|
5000
|
| ||
Cost/EUP (FIFO)
|
$6
|
$30
|
Compute the cost per EUP
for Conversion costs incurred in February and in March, assuming no spoilage.
Company X owns two brands: A and B. Operating income for each product last year is as follows:
| A | B |
Revenues | $52000 | $60000 |
Operating costs |
|
|
Administrative salaries (fixed cost) | 12000 | 8952 |
Wages (avoidable cost) | 13000 | 38000 |
Supplies (avoidable cost) | 5000 | 11000 |
Depreciation of equipment | 2500 | 6000 |
Allocated corporate overhead | 4000 | 8000 |
|
If the company discontinues product B, one administrative position could be eliminated, saving the company $5000. Assuming no change in the sales of product A, what effect would discontinuing product B have on the company’s operating income?
Company X has two main departments – A and B - and two support departments - HR and Maintenance. The company allocates support department costs in both departments using headcount as a basis for allocation, as per the following data:
|
HR
|
Maintenance
|
Dep A
|
Dep B
|
total cost before allocation $
|
$92911
|
$160000
|
$400000
|
$600000
|
headcount (number of employees)
|
75
|
75
|
225
| |
maintenance hours
|
800
|
|
1290
|
600
|
Compute the costs allocated
by HR to Department B, using direct method and step down method
Which of the following sentences are TRUE?
i. Transferred-in costs are incurred in previous departments and are carried forward to subsequent departments
ii. Transferred-in costs are conversion costs added at the beginning of the process
iii. Transferred-in costs are costs of beginning inventory added at the beginning of the process
iv. Transferred-in costs are treated as a separate direct material added at the beginning of the process
Company X uses WA method in process costing and has 2 departments. This question is related to department 2. Direct materials 1 are added at 40% of the process, Direct Materials 2 are added evenly between 50% and 70% of the process and conversion costs are added evenly during the process. There were 1000 units in the beginning work in process inventory, 50% complete with respect to conversion costs. During this month, 16262 units were started and 10000 were completed and transferred out of the department. EWIP has a degree of completion of 60% with respect to conversion costs. There was no spoilage. The company presented the following information regarding EUP:
|
EUP
| |||
|
Transferred in
|
DM1
|
DM2
|
CC
|
EWIP
|
L
|
M
|
N
|
O
|
Company X produces three products from the same process: A, B and C. Joint product costs are $105029.
| Units | Sales price per barrel at splitoff | Further processing costs per unit | Final sales price per unit | |
| A | 4000 | $30 | $2 | $45 |
| B | 14000 | $15 | $3 | $25 |
| C | 6000 | $45 | $6 | $60 |
What amount of joint
processing cost is allocated to Product C using 3 different methods?
Company X has two main departments – PW and PC - and two support departments - SM and SP. The company is interested in using the reciprocal allocation method. The following data from operations were collected for analysis:
Budgeted manufacturing overhead costs:
- Support Dept SM = $660000
- Support Dept SP = $507729
- Operating Dept PW = $1320000
- Operating Dept PC = $880000
Services provided:
- By SM (budgeted labor-hours):
to
SP = 2200
to
PW = 15200
to
PC = 10000
- By SP (Number of employees serviced):
- SM = 18
- PW = 78
- PC = 50
Which of the following linear equations represents the complete reciprocated cost of the SP department?
Which of the following sentence is TRUE?
Company X uses WA method in process costing and presented the following information:
BWIP = 1500 physical units (20%
completed for CC)
- Units started = 10000 physical units
- Units completed = 6684 physical units
EWIP = 3000 physical units (80%
completed for CC)
- Normal spoilage rate = 10%
- Inspection point = 70%