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Tiemei L I
Study Guide
Quiz

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Quiz 2 Answer Key (total 10 marks)
Multiple Choice (5, 1 for each)
1. D
2. E
Explanation:
Normal spoilage = 3% × 86,000 units = 2,580 spoiled units
3. A
Explanation:
Total spoilage= (BI 30,000+Started 80,000) – EI 20,000 – good units 86,000 = 4,000 units
Abnormal spoilage = 4,000 units - 2,580 = 1,420 units
4. D
5. B
4-5 explanation:
Completed BI S&C EI FIFO
DM 0 Good units
56,000+SP4000= 60,000 20,000 80,000
CC 30,000*(1-89.5%)
=3,150 Good units
56,000+SP4000= 60,000 20,000*75%
=15,000 78,150
DM CC
Current Period \$ \$160,000 \$120,000
Cost per EU \$2.00 \$1.54
Question2(5)
a.Journalentryforreworkrelatedtoaspecificjob:
WorkinProcessControl(Job#10)220
MaterialsControl(\$245)120
WagesPayable(\$125)60
(Tochargereworkcoststothejob)
b.Journalentryforreworkcommontoalljobs:
MaterialsControl(\$245)120
WagesPayable(\$125)60
c.Journalentryforabnormalrework:
LossfromAbnormalRework 220
MaterialsControl(\$245)120
WagesPayable(\$125)60