Reference no: EM132493739

Q1. Job order versus process costing

Which of the following industries would typically use job order costing, and which would typically use process costing?

Clothing factories

Accounting consulting firms

Food companies

Shampoo manufacturer

Aircraft manufacturing company

Sports drink manufacturer

Q2 Units to be assigned costs

Fortress Steel Company has two departments, Casting and Rolling. In the Rolling Department, ingots from the Casting Department are rolled into steel sheet. The Rolling Department received 1,200 tons from the Casting Department. During July, the Rolling Department completed 1,100 tons, including 150 tons of work in process on July 1. The ending work in process inventory on July 31 was 250 tons. How many tons were started and completed during July?

Q3. Equivalent units of materials cost

The Rolling Department of Fortress Steel Company had 150 tons in beginning work in process inventory (25% complete) on July 1. During July, 550 tons were completed. The ending work in process inventory on July 31was 250 tons (40% complete). What are the total equivalent units for direct materials for July if materials are added at the beginning of the process?

Q4. Equivalent units of conversion cost

The Rolling Department of Fortress Ridge Steel Company had 150 tons in beginning work in process inventory (25% complete) on July 1. During July, 1,100 tons were completed. The ending work in process inventory on July 31was 250 tons (40% complete). What are the total equivalent units for conversion costs?