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Unit Manufacturing Company Had No Work in Process at the Beginning

Question 53
Multiple Choice

Unit Manufacturing Company had no work in process at the beginning of a month.At the end of the month,600 units were still in process and were 40% complete.Equivalent production for the month was 5,240 units.How many units were transferred out of production to finished goods during the month? A) 5,240 units. B) 5,000 units. C) 4,760 units. D) 4,400 units.

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Q 54
Equivalent production units may be computed A) for labor only. B) for labor and materials only. C) for labor,materials,and manufacturing overhead. D) for materials and manufacturing overhead only.
Q 55
In a process cost accounting system,the average unit cost of a product is determined by dividing the appropriate costs by A) the number of units placed in production during the period. B) the number of units transferred to another department. C) the equivalent production units. D) the number of units transferred to the finished goods inventory.
Q 56
The source of the cost data that appears in a cost of production report is A) the Finished Goods Inventory account. B) the job order cost sheet. C) the prior period income statement. D) the Work in Process Inventory accounts.
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