11 ldr manufacturing produces a pesticide chemical and uses process costing there ar 4311344

11) LDR Manufacturing produces a pesticide chemical and uses process costing.  There are three processing departments-Mixing, Refining, and Packaging.  On January 1, 2012, the first department, Mixing, had a zero beginning balance.  During January, 40,000 liters of chemicals were started into production.  During the month, 32,000 liters were completed, and 8,000 remained in process, partially completed.  In the Mixing Department, all raw materials are added at the beginning of the production process, and conversion costs are applied evenly through the process.

At the end of January, the equivalent unit data for the Mixing Department were as follows:

EQUIVALENT UNITS			Equivalent Units
Units to account for		Transferred In	Direct Mtls Cost	Conversion Cost
Completed	32,000	0	32,000	32,000
End bal WIP	8,000	0	8,000	4,800
	40,000	0	40,000	36,800

In addition to the above, the costs per equivalent unit were $1.20 for direct materials and $5.75 for conversion costs.  Using this data, please calculate the full cost of the ending balance in the Mixing Department.

A) $211,600

B) $48,000

C) $37,200

D) $222,400

12) LDR Manufacturing produces a pesticide chemical and uses process costing.  There are three processing departments-Mixing, Refining, and Packaging.  On January 1, 2012, the first department, Mixing, had a zero beginning balance.  During January, 40,000 liters of chemicals were started into production.  During the month, 32,000 liters were completed, and 8,000 remained in process, partially completed.  In the Mixing Department, all raw materials are added at the beginning of the production process, and conversion costs are applied evenly through the process.

At the end of January, the equivalent unit data for the Mixing Department were as follows:

EQUIVALENT UNITS			Equivalent Units
Units to account for		Transferred In	Direct Mtls Cost	Conversion Cost
Completed	32,000	0	32,000	32,000
End bal WIP	8,000	0	8,000	4,800
	40,000	0	40,000	36,800

In addition to the above, the costs per equivalent unit were $1.20 for direct materials and $5.75 for conversion costs.  Using this data, please calculate the full cost of the units that were transferred out of the Mixing Department and into the Refining Department.

A) $211,600

B) $48,000

C) $222,400

D) $37,200

13) Rankin Food Products produces cane sugar syrup in bulk quantities, and uses process costing.  There are three processing departments-Mixing, Refining, and Packaging. Using process costing analysis, Rankin determined that the cost of the units completed and transferred out of the Mixing Department during the month was $11,000.  Which of the following is the correct journal entry to record the cost of the units completed and transferred out to the next department?

A) Debit $11,000 to Finished goods inventory, credit $11,000 to Work in process – Mixing

B) Debit $11,000 to Work in process — Refining, credit $11,000 to Work in process – Mixing

C) Debit $11,000 to Work in process — Refining, credit $11,000 to Materials inventory

D) Debit $11,000 to Work in process — Mixing, credit $11,000 to Work in process – Refining

14) Rankin Food Products produces cane sugar syrup in bulk quantities, and uses process costing.  There are three processing departments-Mixing, Refining, and Packaging.  On January 1, 2012, the first department, Mixing, had a zero beginning balance.  During January, 80,000 gallons of syrup were started into production.  During the month, 79,100 gallons were completed, and 900 remained in process, partially completed.  During January, the Mixing Department incurred $7,500 of materials costs, $900 direct labor costs, and was allocated $2,500 of manufacturing overhead costs.  Which of the following is the correct journal entry to record the costs added during January to the Mixing Department?

A) Work in process – Mixing	10,900
Accounts payable		10,900

B) Work in process – Mixing	10,900
Materials inventory		7,500
Wages payable		900
Manufacturing overhead		2,500

C) Work in process – Mixing	10,900
Work in process – Refining		10,900

D) Materials inventory	7,500
Wages payable	900
Manufacturing overhead	2,500
Work in process – Mixing		10,900

15) LDR Manufacturing produces a pesticide chemical and uses process costing.  There are three processing departments-Mixing, Refining, and Packaging.  On January 1, 2012, the first department, Mixing, had a zero beginning balance.  During January, 40,000 liters of chemicals were started into production.  During the month, 32,000 liters were completed, and 8,000 remained in process, partially completed.  In the Mixing Department, all raw materials are added at the beginning of the production process, and conversion costs are applied evenly through the process.

During January, the Mixing Department incurred $48,000 in direct materials costs and $211,600 in conversion costs. At the end of the month, the ending inventory in the Mixing Department was 60% complete with respect to conversion costs.  First, calculate the equivalent units, then calculate the cost per equivalent unit, and then calculate the total cost of the product that was remaining in ending inventory at January 31.

The total cost of product in ending inventory was:

A) $211,600.

B) $48,000.

C) $37,200.

D) $222,400.

16) LDR Manufacturing produces a pesticide chemical and uses process costing.  There are three processing departments-Mixing, Refining, and Packaging.  On January 1, 2012, the first department, Mixing, had a zero beginning balance.  During January, 40,000 liters of chemicals were started into production.  During the month, 32,000 liters were completed, and 8,000 remained in process, partially completed.  In the Mixing Department, all raw materials are added at the beginning of the production process, and conversion costs are applied evenly through the process.

During January, the Mixing Department incurred $48,000 in direct materials costs and $211,600 in conversion costs.  At the end of the month, the ending inventory in the Mixing Department was 60% complete with respect to conversion costs.  First, calculate the equivalent units, then calculate the cost per equivalent unit, and then calculate the total cost of the product that was completed and transferred out during January.

The total cost of product transferred out was:

A) $211,600.

B) $48,000.

C) $37,200.

D) $222,400.

17) LDR Manufacturing produces a pesticide chemical and uses process costing.  There are three processing departments-Mixing, Refining, and Packaging.  On January 1, 2012, the Refining Department had 2,000 liters of partially processed product in production.  During January, 32,000 liters were transferred in from the Mixing Department and 29,000 liters completed and transferred out.  At the end of the month, there were 5,000 liters of partially processed product remaining in the Refining Department.  See additional details below.

Refining Department, beginning balance at January 1, 2012

Quantity:2,000 units (partially processed)

Cost:$15,600 of costs transferred in

$1,900 of materials cost

$4,500 of conversion cost

$22,000 total account balance

Costs added during January

Cost of units transferred in:$222,400

Direct materials cost$45,000

Conversion cost$93,750

Refining Department, ending balance at January 31, 2012

Quantity:5,000 units (partially processed)

% completion for materials cost:90%

% completion for conversion cost:75%

Please perform a process costing analysis and answer the following question:

For the Refining Department in the month of January, what was the total number of equivalent units with respect to transferred in costs?

A) 32,000

B) 34,000

C) 29,000

D) 5,000

18) LDR Manufacturing produces a pesticide chemical and uses process costing.  There are three processing departments-Mixing, Refining, and Packaging.  On January 1, 2012, the Refining Department had 2,000 liters of partially processed product in production.  During January, 32,000 liters were transferred in from the Mixing Department and 29,000 liters were completed and transferred out.  At the end of the month, there were 5,000 liters of partially processed product remaining in the Refining Department.  See additional details below.

Refining Department, beginning balance at January 1, 2012

Quantity:2,000 units (partially processed)

Cost:$15,600 of costs transferred in

$1,900 of materials cost

$4,500 of conversion cost

$22,000 total account balance

Costs added during January

Cost of units transferred in:$222,400

Direct materials cost$45,000

Conversion cost$93,750

Refining Department, ending balance at January 31, 2012

Quantity:5,000 units (partially processed)

% completion for materials cost:90%

% completion for conversion cost:75%

Please perform a process costing analysis and answer the following question:

For the Refining Department in the month of January, what was the total number of equivalent units with respect to direct materials costs?

A) 33,500

B) 34,000

C) 29,000

D) 4,500

19) LDR Manufacturing produces a pesticide chemical and uses process costing.  There are three processing departments-Mixing, Refining, and Packaging.  On January 1, 2012, the Refining Department had 2,000 liters of partially processed product in production.  During January, 32,000 liters were transferred in from the Mixing Department and 29,000 liters were completed and transferred out.  At the end of the month, there were 5,000 liters of partially processed product remaining in the Refining Department.  See additional details below.

Refining Department, beginning balance at January 1, 2012

Quantity:2,000 units (partially processed)

Cost:$15,600 of costs transferred in

$1,900 of materials cost

$4,500 of conversion cost

$22,000 total account balance

Costs added during January

Cost of units transferred in:$222,400

Direct materials cost$45,000

Conversion cost$93,750

Refining Department, ending balance at January 31, 2012

Quantity:5,000 units (partially processed)

% completion for materials cost:90%

% completion for conversion cost:75%

Please perform a process costing analysis and answer the following question:

For the Refining Department in the month of January, what was the total number of equivalent units with respect to conversion costs?

A) 3,750

B) 32,750

C) 29,000

D) 4,500

20) LDR Manufacturing produces a pesticide chemical and uses process costing.  There are three processing departments-Mixing, Refining, and Packaging.  On January 1, 2012, the Refining Department had 2,000 liters of partially processed product in production.  During January, 32,000 liters were transferred in from the Mixing Department and 29,000 liters were completed and transferred out.  At the end of the month, there were 5,000 liters of partially processed product remaining in the Refining Department.  See additional details below.

Refining Department, beginning balance at January 1, 2012

Quantity:2,000 units (partially processed)

Cost:$15,600 of costs transferred in

$1,900 of materials cost

$4,500 of conversion cost

$22,000 total account balance

Costs added during January

Cost of units transferred in:$222,400

Direct materials cost$45,000

Conversion cost$93,750

Refining Department, ending balance at January 31, 2012

Quantity:5,000 units (partially processed)

% completion for materials cost:90%

% completion for conversion cost:75%

Please perform a process costing analysis and answer the following question:

For the Refining Department in the month of January, what was cost per equivalent unit with respect to transferred in costs?  (Please round to nearest cent.)

A) $6.54

B) $3.00

C) $1.40

D) $7.00

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