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Which of the following Journal entries properly records the transfer of $7,000 of manufacturing costs from the Bottling Department to Finished Goods? 13 Multiple Choice 55 book Finished Goods Work in Process-Bottling 17.000 11.000 Cost of Goods sold Work in Process Bottling 17.000 1.000 Work in Process Bottling Finished Goods 7.000 17.000 Work in Process Bottling Cost of Goods Sold 12.000 12.000 The equation for computing equivalent units is 14 Multiple Choice 01:55:35 eBook O [1-(Number of partially completed units X Percentage completion) (1 - (Number of partially completed units + Percentage completion)] Number of partially completed units * Percentage completion Number of partially completed units + Percentage completion Percent Complete Materials Conversion 401 30$ Units 200 6,200 15 Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory 5,800 600 1008 700 100% 608 8015520 BOOK Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials Conversion $ 10,000 $ 15,000 290,000 385,000 $300,000 $400,000 Using the FIFO method, what is the equivalent units of production for conversion? Multiple Choice 5.900 units be 6.200 units Percent complete Materials Conversion 401 300 Units 200 6,200 16 Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory 5,800 600 1008 70 1000 601 OSS. 10 . Milling Department Cost of beginning work in process inventory Costa added during the period Total cost Materials Conversion $ 10,000 $ 15,000 290,000 385,000 $300,000 5 400,000 If the cost per equivalent unit for materials is $48.23 using the weighted average method, then the percent complete with respect to the materials in ending work in process inventory is closest to Multiple Choice 40% 50% 17 Amount Sales $600,000 Contribution margin $360,000 Net operating income $210,000 Per Unit $40 $24 2 01:54:57 What is the amount of variable expenses? eBook Multiple Choice O $200,000 $360,000 O $120,000 O $240.000 Which of the following statements is false? 18 Multiple Choice 8 1544 Book A variable that responds to some causal factor is known as an independent variable. O The least squares regression method computes a regression line that minimizes what is known as the sum of the squared errors Cost behavior is said to be linear whenever a straight line is a reasonable approximation for the relation between cost and activity The high-low method can be used to separate a mixed cost into its variable and fixed elements

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