Question 3. Question:( TCO B) Luft Company uses the weightedaverage method in its process costing system. Operating data for the first processing department for the month of June appear below. Units Percent Complete With Respect to Conversion Beginning work in process inventory 11,000 90 % Started in production during June 58,000 Ending work in process inventory 17,000 10 % According to the company’ s records, the conversion cost in beginning work in process inventory was $ 79,893 at the beginning of June. Additional conversion costs of $ 343,830 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month?( Round to three decimal places.) Student Answer: $ 7.891 $ 8.070 $ 5.928 $ 4.584
Question 4. Question:( TCO B) In a job-order costing system, the use of direct materials that have been previously purchased is recorded as a debit to Student Answer: raw materials. finished goods. work in process. manufacturing overhead.
Question 5. Question:( TCO B) During October, Crusan Corporation incurred $ 62,000 of direct labor costs and $ 4,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a Student Answer: debit to work in process of $ 66,000. credit to work in process of $ 66,000. credit to work in process of $ 62,000. debit to work in process of $ 62,000.
Question 6. Question:( TCO B) During February, Degan Inc. transferred $ 60,000 from work in process to finished goods and