A) Which of the following industries would typically usejob order costing, and which would...

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Accounting

A) Which of the following industries would typically usejob order costing, and which would typically use processcosting?
Clothing factories
Accounting consulting firms
Food companies
Shampoo manufacturer
Aircraft manufacturing company
Sports drink manufacturer
B) Fortress Steel Company has two departments, Castingand Rolling. In the Rolling Department, ingots from the CastingDepartment are rolled into steel sheet. The Rolling Departmentreceived 1,200 tons from the Casting Department. During July, theRolling Department completed 1,100 tons, including 150 tons of workin process on July 1.The ending work in process inventory on July31 was 250 tons. How many tons were started and completed duringJuly?
C) The Rolling Department of Fortress Steel Company had150 tons in beginning work in process inventory (25% complete) onJuly 1. During July, 550 tons were completed. The ending work inprocess inventory on July 31 was 250 tons (40% complete). What arethe total equivalent units for direct materials for July ifmaterials are added at the beginning of the process?
D) The Rolling Department of Fortress Ridge SteelCompany had 150 tons in beginning work in process inventory (25%complete) on July 1. During July, 1,100 tons were completed. Theending work in process inventory on July 31 was 250 tons (40%complete). What are the total equivalent units for conversioncosts?
E) The cost of direct materials transferred into theRolling Department of Oak Ridge Steel Company is $510,250. Theconversion cost for the period in the Rolling Department is$143,325. The total equivalent units for direct materials andconversion are 650 tons and 612.50 tons, respectively. Determinethe direct materials and conversion costs per equivalentunit.

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3.9 Ratings (707 Votes)

A Food companies would typically use job order costing as Job order costing system is Used when the different items produced are sufficiently different from each other and has different significant cost Clothing See Answer

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In: AccountingA) Which of the following industries would typically usejob order costing, and which would typically...A) Which of the following industries would typically usejob order costing, and which would typically use processcosting?Clothing factoriesAccounting consulting firmsFood companiesShampoo manufacturerAircraft manufacturing companySports drink manufacturerB) Fortress Steel Company has two departments, Castingand Rolling. In the Rolling Department, ingots from the CastingDepartment are rolled into steel sheet. The Rolling Departmentreceived 1,200 tons from the Casting Department. During July, theRolling Department completed 1,100 tons, including 150 tons of workin process on July 1.The ending work in process inventory on July31 was 250 tons. How many tons were started and completed duringJuly?C) The Rolling Department of Fortress Steel Company had150 tons in beginning work in process inventory (25% complete) onJuly 1. During July, 550 tons were completed. The ending work inprocess inventory on July 31 was 250 tons (40% complete). What arethe total equivalent units for direct materials for July ifmaterials are added at the beginning of the process?D) The Rolling Department of Fortress Ridge SteelCompany had 150 tons in beginning work in process inventory (25%complete) on July 1. During July, 1,100 tons were completed. Theending work in process inventory on July 31 was 250 tons (40%complete). What are the total equivalent units for conversioncosts?E) The cost of direct materials transferred into theRolling Department of Oak Ridge Steel Company is $510,250. Theconversion cost for the period in the Rolling Department is$143,325. The total equivalent units for direct materials andconversion are 650 tons and 612.50 tons, respectively. Determinethe direct materials and conversion costs per equivalentunit.