Questions to Answer in Process Costing - Process Costing - Exam, Exams for Cost Accounting. Aliah University

Cost Accounting

Description: Questions to Answer in Process Costing, Completed Units, Costs in Beginning Inventory, Labor and Overhead, Average Cost Per Unit, Per Equivalent Whole Unit, Units Completed, Transferred Out, Work Done, Process Costing. This quiz is for Process costing course. It has questions from exercise.
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Questions to answer in process costing

1. How many units did we work on this period? a. How many were left over from last period?

b. How many did we start?

c. How many are left in process at the end of the period?

2. How much work did we do?

a. On the completed units?

b. On the units still left in process?

3. How much money did we spend? a. Costs in beginning inventory?

i. Materials?

ii. Labor and overhead?

b. Costs added this period? i. Materials?

ii. Labor and overhead?

c. How much did we spend in total for:

i. Materials?

ii. Labor and overhead?

4. What was the average cost per unit of work (i.e., per equivalent whole unit): i. For materials?

ii. For labor and overhead?

5. How much did it cost for:

a. The units completed and transferred out?

b. The work done so far on the units still in process?

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