Plesse seleet the best anewer to eny 1 of the follerwing 6 multiple choice quest
ID: 2574232 • Letter: P
Question
Plesse seleet the best anewer to eny 1 of the follerwing 6 multiple choice questions. Do net answer mole than 3 questions as only your MirS anwers will be graded Recond your answers on the lines provided 1. What is "balanced in the balanced scorecard approach? a The number of defects found on each product b. The number of products produced G. The emphasis on financial and non-financial performance measurements d. The amount of costs allocated to products The Wrapping Department's output during the period consists of 21,000 units completed and transferred out, and 900 units in ending work in process that were 75% complete as to materials and conversion costs. Beginning inventory was 1,200 units that were 30% complete as to materials and conversion costs. Under the FIFO method. what are the equivalent units of production for materials? a. 22,035 b. 21,315 . 21,675 d. 22,515 --3. Kushman Combines, Inc. has $20,000 of ending finished goods inventory as of December 31, 2013. If beginning finished goods inventory was $10,000 and cost of goods sold was $50,000, how much would Kushman report for cost of goods a. $10,000 b. $70,000 c. $40,000 d. $60,000 . The Assembly Department shows the following information Beginning Work in Process Ending Work in Process 20,000 65,000 31,000 Units Transferred Out How many total units are to be acounted for by the Assembly Department? a. 85,000. b. 76,000, . 96,000 d.65,000. 5. Worth Company reported the following year-end information: beginning work in process inventory, $180,000; cost of goods manufactured, $866,000; beginning finished goods inventory, $252,000; ending work in process inventory finished goods inventory, $264,000. Worth Company's cost of goods sold for the year is a. $878,000. b. $854,000 C$602,000 d. $826,000. , $220,000, and ending 6. In the month of June, a department had 20,000 units in beginning work in process that were 70% complete. During June, 90,000 units were transferred into production from another department. At the end of June there were 10,000 units in ending work in process that were 40% complete. Materials are added at the beginning of the process. while conversion costs are incurred uniformly throughout the process. The equivalent units of production for conversion costs for June were a. 90,000 equivalent units. b. 104,000 equivalent units.d. 110,000 equivalent units c. 100,000 equivalent units PAGE 2Explanation / Answer
.1.Balance score card means balance performance evaluation.
Normally setting goals and performance evaluation is done through the financial statements. But there are non-financial measures which are important.
In balanced scorecard , multiple measures, financial and non-financial are used.
Answer:
c.The emphasis on financial and non financial performance measurement
.2.
1200+units introduced=21000+900
Units introduced=20700
Input
Particulars
Output
Materials
1200
Opening WIP
20,700
units introduced
Finished output
Opening WIP
1200
70%
840
Units introduced and completed
19800
100%
19800
Closing WIP
900
75%
675
21900
21900
21315
Equivalent Units of production in materials=21315
Answer: b.21315
.3.Begining Finished goods inventory=$10,000
Cost of goods sold=$50,000
Ending finished goods inventory=$20000
Beginning Finished goods inventory+ cost of goods manufactured=Cost of goods sold+ Ending Inventory
$10,000+Cost of goods manufactured=$50,000+$20,000=$70,000
Cost of goods manufactured=$70,000-$10,000=$60,000
Answer:d. $60,000
.4.Begining work in process(WIP)=20,000
Completed and transferred out=31,000
Units in ending WIP=65,000
20000+units started=31000+65000
Units started=96000-20000=76000
Units to be accounted for=Beginning WIP+ Units started
Units to be accounted for=20000+76000=96,000
Answer:c.96,000
1200+units introduced=21000+900
Units introduced=20700
Input
Particulars
Output
Materials
1200
Opening WIP
20,700
units introduced
Finished output
Opening WIP
1200
70%
840
Units introduced and completed
19800
100%
19800
Closing WIP
900
75%
675
21900
21900
21315