WGU D101 COST AND MANAGERIAL ACCOUNTING UNIT 2
PROCESS COSTING QUESTIONS WITH VERIFIED ANSWERS
100% Correct 38
Incorrect 0
1 of 38
Definition
when the work performed on each product that goes through various
work centers is the same.
Give this one a go later!
0/1
What is another name for the "work When process costing is used, the
done" or "work performed" during a work of the period is made up
period under process costing? of three parts
A firm would employ process costing
Process costing is appropriate using five steps, Step 5
Don't know?
, 2 of 38
Term
Of the four steps involved in assigning production costs to products
when using process costing, step 4 is
Give this one a go later!
Compute the total cost of units
Determine the amount of "work
remaining in process
done" (equivalent units of
(ending work-in-process
production)
inventory) at the end of the
during the production period.
production period.
Compute the total and overall
average cost of units completed and
Allocate the total production costs
transferred out (cost of goods
to the equivalent units of
manufactured) during the production
production.
period.
Don't know?
, 3 of 38
Term
0/1
What is another name for the "work done" or "work performed" during
a period under process costing?
Give this one a go later!
Equivalent units of production Partial units of completion
Expense of units of production Efficient units of production
Don't know?
4 of 38
Term
A firm would employ process costing using five steps, Step 5
Give this one a go later!
Calculate the cost of
goods transferred out to Allocate the conversion costs to
the next the units completed and transferred
department during the period. out.
PROCESS COSTING QUESTIONS WITH VERIFIED ANSWERS
100% Correct 38
Incorrect 0
1 of 38
Definition
when the work performed on each product that goes through various
work centers is the same.
Give this one a go later!
0/1
What is another name for the "work When process costing is used, the
done" or "work performed" during a work of the period is made up
period under process costing? of three parts
A firm would employ process costing
Process costing is appropriate using five steps, Step 5
Don't know?
, 2 of 38
Term
Of the four steps involved in assigning production costs to products
when using process costing, step 4 is
Give this one a go later!
Compute the total cost of units
Determine the amount of "work
remaining in process
done" (equivalent units of
(ending work-in-process
production)
inventory) at the end of the
during the production period.
production period.
Compute the total and overall
average cost of units completed and
Allocate the total production costs
transferred out (cost of goods
to the equivalent units of
manufactured) during the production
production.
period.
Don't know?
, 3 of 38
Term
0/1
What is another name for the "work done" or "work performed" during
a period under process costing?
Give this one a go later!
Equivalent units of production Partial units of completion
Expense of units of production Efficient units of production
Don't know?
4 of 38
Term
A firm would employ process costing using five steps, Step 5
Give this one a go later!
Calculate the cost of
goods transferred out to Allocate the conversion costs to
the next the units completed and transferred
department during the period. out.
