Deck 16: Appendix: Process Costing

Question 1

A single plant-wide overhead rate should be used to allocate overhead to the manufacturing process in process costing systems with more than one department.

Answer 1

False

Question 2

Starting 12,000 units in the manufacturing process and completing those units 80% is equivalent to starting and completing the manufacturing process for 9,600 units.

Answer 2

True

Question 3

Equivalent units of production must be calculated individually for direct materials, direct labor, and factory overhead.

Answer 3

False

Question 4

Conversion costs include direct labor and factory overhead.

Question 5

The conversion cost per equivalent unit is always calculated by dividing the conversion costs incurred during the period by the number of equivalent units for conversion costs.

Question 6

Conversion costs are usually assumed to be added evenly throughout the process.

Question 7

The equivalent units of production are calculated by subtracting the number of units in ending work in process from the number of units started during the period.

Question 8

In a process costing system, the number of partially completed units in ending inventory multiplied by the percentage of process complete equals the number of equivalent units in the ending inventory.

Question 9

In a process costing system, the cost per equivalent unit is determined after calculating the number of equivalent units of production.

Question 10

A corporation completed 50,000 finished units during a period and had 16,000 units in ending inventory that were 35% complete; therefore the number of equivalent units was 55,600.

Question 11

Total direct materials cost incurred during the current period was $180,000 and the number of units completed during the current period plus equivalent units in ending work in process inventory was 36,000; therefore, the direct materials cost per equivalent unit for the current period was $5.00.

Question 12

The cost per equivalent unit must be computed for direct materials, conversion costs, and transferred in costs in a subsequent department.

Question 13

In a multi-process costing system, cost of work in process-department 1 is transferred where?

A) To finished goods inventory
B) To cost of goods sold
C) To manufacturing overhead
D) To the next manufacturing process

Question 14

Which of the following companies would use process costing?

A) DBA Management Consultants
B) Special Speedy Printing
C) APlus Advertising
D) PepsiCo, producer of Pepsi products

Question 15

Which of the following is unique to a process costing system?

A) The costs for each process stay with that process until the products are completed and moved to finished goods inventory
B) Direct materials, direct labor, and manufacturing overhead are assigned to the first process only.
C) Each processing department has its own separate work in process inventory account.
D) Each processing department uses the same predetermined overhead application rate.

Question 16

The entry to record a $24,000 transfer from the assembly department to the finishing department would include which of the following?

A) Credit to work in process inventory-assembly
B) Debit to finished goods inventory
C) Debit to cost of goods manufactured
D) Debit to cost of goods sold

Question 17

The Steamboat Company began the month with 2,000 units in work in process which were 25% complete with respect to conversion costs. During the month, 10,000 units were started and the ending work in process consisted of 1,000 units which were 40% complete with respect to conversion costs. What was the number of equivalent units of production for conversion costs?

A) 11,900
B) 9,900
C) 11,400
D) 10,900

Question 18

Special Joe manufactures caffeinated water. Last month's total manufacturing costs were:
$$\begin{array} { | l | r | } \hline \text { Direct materials } & \$ 500,000 \\\hline \text { Direct labor } & \$ 50,000 \\\hline \text { Manufacturing overhead } & \$ 250,000 \\\hline\end{array}$$ What was the conversion cost for Special Joe for last month?

A) $300,000
B) $800,000
C) $250,000
D) $500,000

Question 19

XYZ Company manufactures paint. One of its plants makes a light colored base that can be tinted at the retail store to match any color chosen by the customer. At the end of the current month, XYZ had 5,000 gallons of paint still in process. All of the ingredients had been added to the vats, but they still needed to be mixed and then poured into gallon containers. Each gallon was 75% of the way through the production process and conversion costs are incurred evenly throughout the process. What are the equivalent units of paint ingredients in the ending work in process inventory?

A) 1,250
B) 5,000
C) 0
D) 3,750

Question 20

XYZ Company manufactures paint. One of its plants makes a light colored base that can be tinted at the retail store to match any color chosen by the customer. At the end of the current month, XYZ had 5,000 gallons of paint still in process. All of the ingredients had been added to the vats, but they still needed to be mixed and then poured into gallon containers. Each gallon was 75% of the way through the production process and conversion costs are incurred evenly throughout the process. What are the equivalent units of conversion costs in the ending work in process inventory?

A) 5,000
B) 0
C) 3,750
D) 1,250

Question 21

Which of the following statements is incorrect?

A) The number of equivalent units of production does not have to be the same for direct materials and conversion costs.
B) The number of units that were both started and completed is less than the number of units started when there is ending work in process.
C) The number of units completed is greater than the number of units started when there is beginning work in process and no ending work in process.
D) The equivalent units of production will always be less than the number of units started when there is ending work in process.

Question 22

Assume an ending work in process of inventory of 100 units, 80% complete regarding materials and 30% complete regarding conversion costs. What is the number ofequivalent unit for materials and conversion?

A) 100 units for materials and 100 units for conversion costs.
B) 30 units for materials and 90 units for conversion costs.
C) 80 units for materials and 30 units for conversion costs.
D) 100 units for materials and 70 units for conversion costs.

Question 23

The Made Rite Shoe Corporation uses a process costing system. In the Cutting Department, 4,000 units were started and by the end of the period, all but 400 units had been completed. The 400 units were 80% complete regarding materials and 40% complete regarding conversion costs. Costs added during the current period include $66,640 for materials and $70,312 for conversion. What was the number ofequivalent units of production for direct materials?

A) 3,540
B) 3,900
C) 3,760
D) 3,920

Question 24

The Made Rite Shoe Corporation uses a process costing system. In the Cutting Department, 4,000 units were started and by the end of the period, all but 400 units had been completed. The 400 units were 80% complete regarding materials and 40% complete regarding conversion costs. Costs added during the current period include $66,640 for materials and $70,312 for conversion. What was the number ofequivalent units of production for conversion costs?

A) 3,700
B) 3,760
C) 3,920
D) 3,900

Question 25

The Made Rite Shoe Corporation uses a process costing system. In the Cutting Department, 4,000 units were started and by the end of the period, all but 400 units had been completed. The 400 units were 80% complete regarding materials and 40% complete regarding conversion costs. Costs added during the current period include $66,640 for materials and $70,312 for conversion. What was the cost perequivalent unit of production for direct materials?

A) $16.67
B) $18.51
C) $17.00
D) $18.11

Question 26

The Made Rite Shoe Corporation uses a process costing system. In the Cutting Department, 4,000 units were started and by the end of the period, all but 400 units had been completed. The 400 units were 80% complete regarding materials and 40% complete regarding conversion costs. Costs added during the current period include $66,640 for materials and $70,312 for conversion. What was the cost perequivalent unit of production for conversion costs?

A) $17.00
B) $18.70
C) $17.91
D) $16.91

Question 27

Assuming that there was no beginning work in process inventory, and the ending work in process inventory is 30% complete as to direct materials costs, the number of equivalent units for direct materials costs would be which of the following?

A) Less than the number of units started in production
B) Less than the number of units completed
C) Equal to the number of units started in production
D) Equal to the number of units completed

Question 28

CJ Company reported that during the last month 50,000 units were completed and 3,600 units were in work in process the end of the month. If the ending work in process inventory was 75% complete as to direct materials and 25% complete as to conversion costs, how much would the equivalent units of production for direct materials be for the last month?

A) 50,900
B) 52,700
C) 47,700
D) 45,900

Question 29

CJ Company reported that during the last month 50,000 units were completed and 3,600 units were in work in process at the end of the month. If the ending work in process inventory was 75% complete as to direct materials and 25% complete as to conversion costs, how much would the equivalent units of production for conversion costs be for the last month?

A) 52,700
B) 47,700
C) 45,900
D) 50,900

Question 30

The Rugger Company uses a process costing system. During the period, 1,400 were started and 1,000 units were completed and transferred out. The units at the end of the period were 60% complete regarding materials and 40% complete regarding conversion. The cost of materials added during the current period amounted to $31,930; the conversion costs added during the current period amounted to $34,800. What were the equivalent units of production for materials?

A) 1,240
B) 1,200
C) 1,400
D) 1,320

Question 31

The Rugger Company uses a process costing system. During the period, 1,400 were started and 1,000 units were completed and transferred out. The units at the end of the period were 60% complete regarding materials and 40% complete regarding conversion. The cost of materials added during the current period amounted to $31,930; the conversion costs added during the current period amounted to $34,800. What were the equivalent units of production for conversion costs?

A) 1,160
B) 1,300
C) 1,280
D) 1,320

Question 32

The Rugger Company uses a process costing system. During the period, 1,400 were started and 1,000 units were completed and transferred out. The units at the end of the period were 60% complete regarding materials and 40% complete regarding conversion. The cost of materials added during the current period amounted to $31,930; the conversion costs added during the current period amounted to $34,800. What was the cost per equivalent unit of production for materials?

A) $22.82
B) $24.20
C) $22.50
D) $25.75

Question 33

The Rugger Company uses a process costing system. During the period, 1,400 were started and 1,000 units were completed and transferred out. The units at the end of the period were 60% complete regarding materials and 40% complete regarding conversion. The cost of materials added during the current period amounted to $31,930; the conversion costs added during the current period amounted to $34,800. What was the cost per equivalent unit of production for conversion costs?

A) $30.00
B) $34.80
C) $24.86
D) $23.45

Question 34

Rae Company began the recent month with 3,000 units in their work in process inventory. During the month Rae started 12,000 units into production and ended the month with 2,000 units in their work in process inventory which were 20% complete. Rae's equivalent units of production for conversion costs were 13,400 units for the month. What was the percentage that that beginning work in process had been completed as of the beginning of the month?

A) 60%
B) 40%
C) 20%
D) It can't be determined given the information.

Question 35

A company began its operations by starting 40,000 units in production. During the month, 22,000 were completed and transferred out while the remaining units were 45% complete. How many equivalent units of production were there with respect to conversion costs?

A) 22,000 units
B) 30,100 units
C) 30,000 units
D) 25,600 units

Question 36

The Blue Tide Company manufactures light bulbs in a single process. The following information is available:
$$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. 1 } & 0 \text { units } \\\hline \text { Units started in production } & 14,000 \text { units } \\\hline \text { Units completed and transferred out } & 9,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 5,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 38,500 \\\hline \text { Direct labor } & \$ 13,975 \\\hline \text { Manufacturing overhead } & \$ 8,600 \\\hline\end{array}$$ The ending work in process was 90% complete with respect to direct materials and 40% complete with respect to conversion costs. How much was the total manufacturing costs to account for?

A) $22,575
B) $61,075
C) $38,500
D) $52,475

Question 37

The Blue Tide Company manufactures light bulbs in a single process. The following information is available:
$$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. 1 } & 0 \text { units } \\\hline \text { Units started in production } & 14,000 \text { units } \\\hline \text { Units completed and transferred out } & 9,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 5,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 38,500 \\\hline \text { Direct labor } & \$ 13,975 \\\hline \text { Manufacturing overhead } & \$ 8,600 \\\hline\end{array}$$ The ending work in process was 90% complete with respect to direct materials and 40% complete with respect to conversion costs. What were the equivalent units of production for direct materials?

A) 9,000 units
B) 13,500 units
C) 14,000 units
D) 5,000 units

Question 38

The Blue Tide Company manufactures light bulbs in a single process. The following information is available:
$$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. 1 } & 0 \text { units } \\\hline \text { Units started in production } & 14,000 \text { units } \\\hline \text { Units completed and transferred out } & 9,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 5,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 38,500 \\\hline \text { Direct labor } & \$ 13,975 \\\hline \text { Manufacturing overhead } & \$ 8,600 \\\hline\end{array}$$ The ending work in process was 90% complete with respect to direct materials and 40% complete with respect to conversion costs. What were the equivalent units of production for conversion costs?

A) 3,600 units
B) 9,000 units
C) 11,000 units
D) 2,000 units

Question 39

The USA Company manufactures flags in a single process. The following information has been provided by USA Company:
$$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. 1 } & - 0 - \text { units } \\\hline \text { Units started in production } & 18,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 6,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 213,885 \\\hline \text { Direct labor } & \$ 577,500 \\\hline \text { Manufacturing overhead } & \$ 391,875 \\\hline\end{array}$$ The units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs. What were the equivalent units of production for direct materials?

A) 13,750 units
B) 12,000 units
C) 14,100 units
D) 14,700 units

Question 40

The USA Company manufactures flags in a single process. The following information has been provided by USA Company:
$$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. 1 } & - 0 - \text { units } \\\hline \text { Units started in production } & 18,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 6,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 213,885 \\\hline \text { Direct labor } & \$ 577,500 \\\hline \text { Manufacturing overhead } & \$ 391,875 \\\hline\end{array}$$ The units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs. What were the equivalent units for production for conversion costs?

A) 13,750 units
B) 12,000 units
C) 14,700 units
D) 14,100 units

Question 41

The USA Company manufactures flags in a single process. The following information has been provided by USA Company:
$$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. 1 } & - 0 - \text { units } \\\hline \text { Units started in production } & 18,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 6,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 213,885 \\\hline \text { Direct labor } & \$ 577,500 \\\hline \text { Manufacturing overhead } & \$ 391,875 \\\hline\end{array}$$ The units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs. What was the cost per equivalent unit of production for direct materials?

A) $17.81
B) $14.55
C) $15.00
D) $12.57

Question 42

The USA Company manufactures flags in a single process. The following information has been provided by USA Company:
$$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. 1 } & - 0 - \text { units } \\\hline \text { Units started in production } & 18,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 6,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 213,885 \\\hline \text { Direct labor } & \$ 577,500 \\\hline \text { Manufacturing overhead } & \$ 391,875 \\\hline\end{array}$$ The units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs. What was the cost per equivalent unit of production for conversion costs?

A) $85.50
B) $68.75
C) $42.00
D) $70.50

Question 43

The USA Company manufactures flags in a single process. The following information has been provided by USA Company:
$$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. 1 } & - 0 - \text { units } \\\hline \text { Units started in production } & 18,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 6,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 213,885 \\\hline \text { Direct labor } & \$ 577,500 \\\hline \text { Manufacturing overhead } & \$ 391,875 \\\hline\end{array}$$ The units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs. What was the total cost of the units completed and transferred out?

A) $1,026,000
B) $999,600
C) $427,500
D) $1,183,125

Question 44

The USA Company manufactures flags in a single process. The following information has been provided by USA Company:
$$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. 1 } & - 0 - \text { units } \\\hline \text { Units started in production } & 18,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 6,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 213,885 \\\hline \text { Direct labor } & \$ 577,500 \\\hline \text { Manufacturing overhead } & \$ 391,875 \\\hline\end{array}$$ The units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs. What was the total cost of the ending work in process inventory?

A) $427,500
B) $157,125
C) $183,660
D) $352,500

Question 45

The Nesting Company manufactures birdhouses in a single manufacturing process. The following information has been provided by Nesting Company:
$$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. } 1 & - 0 - \text { units } \\\hline \text { Units started in production } & 14,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 5,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 38,500 \\\hline \text { Direct labor } & \$ 13,975 \\\hline \text { Manufacturing overhead } & \$ 8,600 \\\hline\end{array}$$ The ending work in process was 100% complete with respect to direct materials and 35% complete with respect to conversion costs. What was the cost per equivalent unit of production for direct materials?

A) $7.70
B) $2.75
C) $4.28
D) $3.58

Question 46

The Nesting Company manufactures birdhouses in a single manufacturing process. The following information has been provided by Nesting Company:
$$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. } 1 & - 0 - \text { units } \\\hline \text { Units started in production } & 14,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 5,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 38,500 \\\hline \text { Direct labor } & \$ 13,975 \\\hline \text { Manufacturing overhead } & \$ 8,600 \\\hline\end{array}$$ as 100% complete with respect to direct materials and 35% complete with respect to conversion costs. What was the cost per equivalent unit of production for conversion costs?

A) $2.51
B) $.80
C) $2.10
D) $1.61

Question 47

The Nesting Company manufactures birdhouses in a single manufacturing process. The following information has been provided by Nesting Company:
$$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. } 1 & - 0 - \text { units } \\\hline \text { Units started in production } & 14,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 5,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 38,500 \\\hline \text { Direct labor } & \$ 13,975 \\\hline \text { Manufacturing overhead } & \$ 8,600 \\\hline\end{array}$$ The ending work in process was 100% complete with respect to direct materials and 35% complete with respect to conversion costs. What was the total cost of the units completed and transferred out?

A) $17,025
B) $61,075
C) $43,650
D) $49,075

Question 48

The Nesting Company manufactures birdhouses in a single manufacturing process. The following information has been provided by Nesting Company: $$\begin{array} { | l | l | } \hline \text { Work in process inventory, Jan. } 1 & - 0 - \text { units } \\\hline \text { Units started in production } & 14,000 \text { units } \\\hline \text { Work in process inventory, Dec. } 31 & 5,000 \text { units } \\\hline \text { Production costs: } & \\\hline \text { Direct materials } & \$ 38,500 \\\hline \text { Direct labor } & \$ 13,975 \\\hline \text { Manufacturing overhead } & \$ 8,600 \\\hline\end{array}$$ The ending work in process was 100% complete with respect to direct materials and 35% complete with respect to conversion costs. What was the total cost of the ending work in process inventory?

A) $61,075
B) $17,425
C) $43,650
D) $29,425

Question 49

The Martin Rubber Company produces tires. The following information is available for Martin:
Beginning work in process inventory: 2,000 tires, 100% complete for direct materials, 60% complete for conversion costs, cost of direct materials = $12,000, cost of direct labor and manufacturing overhead allocated = $10,000 Current period activity: 12,600 tires completed, cost of direct materials added = $300,950, cost of direct labor and manufacturing overhead allocated = $232,980 Ending work in process inventory: 4,500 units, 100% complete for direct materials, 40% complete for conversion costs What were the equivalent units of production for conversion costs?

A) 14,400
B) 13,200
C) 15,600
D) 13,600

Question 50

The Martin Rubber Company produces tires. The following information is available for Martin:
Beginning work in process inventory: 2,000 tires, 100% complete for direct materials, 60% complete for conversion costs, cost of direct materials = $12,000, cost of direct labor and manufacturing overhead allocated = $10,000 Current period activity: 12,600 tires completed, cost of direct materials added = $300,950, cost of direct labor and manufacturing overhead allocated = $232,980 Ending work in process inventory: 4,500 units, 100% complete for direct materials, 40% complete for conversion costs What was the conversion cost per equivalent unit of production?

A) $19.33
B) $16.87
C) $14.93
D) $17.65

Question 51

Assume that 12,000 units were in the beginning work in process, 50,000 units were started during the period, 6,000 units were in the ending work in process, and direct materials are added at the beginning of the period. What are the equivalent units of production for direct materials?

A) 50,000
B) 38,000
C) 62,000
D) 56,000

Question 52

Doodle's beginning work in process was 900 units on October 1. 3,200 units were completed during the month of October, and ending work in process was 500 units on October 31. How many units did Doodle start manufacturing during October?

A) 3,200
B) 3,600
C) 3,300
D) 2,800

Question 53

Oggie Company began the recent month with 5,000 units in their work in process inventory which was 70% complete with respect to conversion costs. During the month, Oggie started 18,000 units into production and ended the month with 3,000 units in their work in process inventory. Oggie's equivalent units of production for conversion costs were 22,700 for the month. What was the percentage that ending work in process had been completed?

A) 10%
B) 90%
C) 23%
D) 30%

Question 54

Forsyth Company produces calendars in a one-process department. Materials are introduced at the beginning of the process. Conversion is applied uniformly throughout the process. Data for the current period is as follows:
$$\begin{array} { | l | l | } \hline \text { Beginning work in process inventory (40\% complete) } & 22,500 \text { units } \\\hline \text { Units started in current period } & 130,000 \text { units } \\\hline \text { Ending work in process inventory (60\% complete) } & 28,500 \text { units } \\\hline \text { Costs contained in beginning work in process inventory } & \\\hline \text { Direct materials } & \$ 51,900 \\\hline \text { Conversion } & \$ 20,174 \\\hline \text { Costs added during current period } & \\\hline \text { Direct materials } & \$ 430,000 \\\hline \text { Conversion } & \$ 310,000 \\\hline\end{array}$$ What were the equivalent units of production for direct materials?

A) 141,100
B) 124,000
C) 130,000
D) 152,500

Question 55

Forsyth Company produces calendars in a one-process department. Materials are introduced at the beginning of the process. Conversion is applied uniformly throughout the process. Data for the current $$\begin{array} { | l | l | } \hline \text { Beginning work in process inventory (40\% complete) } & 22,500 \text { units } \\\hline \text { Units started in current period } & 130,000 \text { units } \\\hline \text { Ending work in process inventory (60\% complete) } & 28,500 \text { units } \\\hline \text { Costs contained in beginning work in process inventory } & \\\hline \text { Direct materials } & \$ 51,900 \\\hline \text { Conversion } & \$ 20,174 \\\hline \text { Costs added during current period } & \\\hline \text { Direct materials } & \$ 430,000 \\\hline \text { Conversion } & \$ 310,000 \\\hline\end{array}$$ What were the equivalent units of production for conversion costs?

A) 152,500
B) 141,100
C) 124,000
D) 130,000

Question 56

Forsyth Company produces calendars in a one-process department. Materials are introduced at the beginning of the process. Conversion is applied uniformly throughout the process. Data for the current period is as follows:
$$\begin{array} { | l | l | } \hline \text { Beginning work in process inventory (40\% complete) } & 22,500 \text { units } \\\hline \text { Units started in current period } & 130,000 \text { units } \\\hline \text { Ending work in process inventory (60\% complete) } & 28,500 \text { units } \\\hline \text { Costs contained in beginning work in process inventory } & \\\hline \text { Direct materials } & \$ 51,900 \\\hline \text { Conversion } & \$ 20,174 \\\hline \text { Costs added during current period } & \\\hline \text { Direct materials } & \$ 430,000 \\\hline \text { Conversion } & \$ 310,000 \\\hline\end{array}$$ What was the cost per equivalent unit produced for direct materials?

A) $3.71
B) $2.82
C) $3.16
D) $3.31

Question 57

Forsyth Company produces calendars in a one-process department. Materials are introduced at the beginning of the process. Conversion is applied uniformly throughout the process. Data for the current period is as follows:
$$\begin{array} { | l | l | } \hline \text { Beginning work in process inventory (40\% complete) } & 22,500 \text { units } \\\hline \text { Units started in current period } & 130,000 \text { units } \\\hline \text { Ending work in process inventory (60\% complete) } & 28,500 \text { units } \\\hline \text { Costs contained in beginning work in process inventory } & \\\hline \text { Direct materials } & \$ 51,900 \\\hline \text { Conversion } & \$ 20,174 \\\hline \text { Costs added during current period } & \\\hline \text { Direct materials } & \$ 430,000 \\\hline \text { Conversion } & \$ 310,000 \\\hline\end{array}$$ What was the cost per equivalent unit of production cost for conversion costs?

A) $2.34
B) $2.54
C) $2.20
D) $2.60

Question 58

Forsyth Company produces calendars in a one-process department. Materials are introduced at the beginning of the process. Conversion is applied uniformly throughout the process. Data for the current period is as follows:
$$\begin{array} { | l | l | } \hline \text { Beginning work in process inventory (40\% complete) } & 22,500 \text { units } \\\hline \text { Units started in current period } & 130,000 \text { units } \\\hline \text { Ending work in process inventory (60\% complete) } & 28,500 \text { units } \\\hline \text { Costs contained in beginning work in process inventory } & \\\hline \text { Direct materials } & \$ 51,900 \\\hline \text { Conversion } & \$ 20,174 \\\hline \text { Costs added during current period } & \\\hline \text { Direct materials } & \$ 430,000 \\\hline \text { Conversion } & \$ 310,000 \\\hline\end{array}$$ What is the total cost of the units transferred to finished goods?

A) $740,000
B) $715,000
C) $682,000
D) $650,000

Question 59

Forsyth Company produces calendars in a one-process department. Materials are introduced at the beginning of the process. Conversion is applied uniformly throughout the process. Data for the current period is as follows:
$$\begin{array} { | l | l | } \hline \text { Beginning work in process inventory (40\% complete) } & 22,500 \text { units } \\\hline \text { Units started in current period } & 130,000 \text { units } \\\hline \text { Ending work in process inventory (60\% complete) } & 28,500 \text { units } \\\hline \text { Costs contained in beginning work in process inventory } & \\\hline \text { Direct materials } & \$ 51,900 \\\hline \text { Conversion } & \$ 20,174 \\\hline \text { Costs added during current period } & \\\hline \text { Direct materials } & \$ 430,000 \\\hline \text { Conversion } & \$ 310,000 \\\hline\end{array}$$ What is the total cost of the ending work in process inventory?

A) $72,074
B) $94,050
C) $156,750
D) $130,074

Question 60

Claire Company had 12,000 units in the beginning work in process inventory; Claire started 50,000 units during the period and had 6,000 units in ending inventory. Direct materials are added at the beginning of the period. What were the equivalent units of production for direct materials?

A) 50,000 units
B) 56,000 units
C) 38,000 units
D) 62,000 units

Question 61

Ferrell Glass Company uses a process costing system. The company reported a beginning inventory of 18,000 units that were 40% complete with respect to direct materials. During the month, 90,000 units were started and the ending work in process inventory amounted to 12,000 units that were 20% complete with respect to direct materials. What were the equivalent units of production for direct materials?

A) 90,000 units
B) 87,600 units
C) 98,400 units
D) 91,200 units

Question 62

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:
$\begin{array}{|l|l|}\hline \text { Beginning work in process inventory: } & \\\hline \text { Number of units } & 7,000 \\\hline \text { Transferred-in costs } & \$ 98,000 \\\hline \text { Direct materials (100\% complete) } & \$ 24,500 \\\hline \text { Conversion costs ( } 65 \% \text { complete) } & \$ 22,700 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { March: }\end{array} & \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred-in costs } & \$ 630,000 \\\hline \text { Units completed during March } & 42,000 \\\hline \text { Costs added during March: } & \\\hline \text { Direct materials } & \$ 157,500 \\\hline \text { Conversion costs } & \$ 230,725 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } & 10,000 \\\hline \begin{array}{l}\text { (100\% complete as to direct materials and } 45 \% \text { complete } \\\text { as to conversion costs) }\end{array} & \\\hline\end{array}$ How many physical units did BBC have to account for during March?

A) 59,000
B) 52,000
C) 45,000
D) 42,000

Question 63

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:
$\begin{array}{|l|l|}\hline \text { Beginning work in process inventory: } & \\\hline \text { Number of units } & 7,000 \\\hline \text { Transferred-in costs } & \$ 98,000 \\\hline \text { Direct materials (100\% complete) } & \$ 24,500 \\\hline \text { Conversion costs ( } 65 \% \text { complete) } & \$ 22,700 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { March: }\end{array} & \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred-in costs } & \$ 630,000 \\\hline \text { Units completed during March } & 42,000 \\\hline \text { Costs added during March: } & \\\hline \text { Direct materials } & \$ 157,500 \\\hline \text { Conversion costs } & \$ 230,725 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } & 10,000 \\\hline \begin{array}{l}\text { (100\% complete as to direct materials and } 45 \% \text { complete } \\\text { as to conversion costs) }\end{array} & \\\hline\end{array}$ What were the equivalent units of production for direct materials?

A) 45,000
B) 39,000
C) 42,000
D) 52,000

Question 64

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:
$\begin{array}{|l|l|}\hline \text { Beginning work in process inventory: } & \\\hline \text { Number of units } & 7,000 \\\hline \text { Transferred-in costs } & \$ 98,000 \\\hline \text { Direct materials (100\% complete) } & \$ 24,500 \\\hline \text { Conversion costs ( } 65 \% \text { complete) } & \$ 22,700 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { March: }\end{array} & \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred-in costs } & \$ 630,000 \\\hline \text { Units completed during March } & 42,000 \\\hline \text { Costs added during March: } & \\\hline \text { Direct materials } & \$ 157,500 \\\hline \text { Conversion costs } & \$ 230,725 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } & 10,000 \\\hline \begin{array}{l}\text { (100\% complete as to direct materials and } 45 \% \text { complete } \\\text { as to conversion costs) }\end{array} & \\\hline\end{array}$
What was the total cost of units transferred to finished goods inventory?

A) $963,725
B) $805,000
C) $963,900
D) $1,035,000

Question 65

BBC Corporation manufactures snowboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments at the beginning of the process. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:
$\begin{array}{|l|l|}\hline \text { Beginning work in process inventory: } & \\\hline \text { Number of units } & 7,000 \\\hline \text { Transferred-in costs } & \$ 98,000 \\\hline \text { Direct materials (100\% complete) } & \$ 24,500 \\\hline \text { Conversion costs ( } 65 \% \text { complete) } & \$ 22,700 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { March: }\end{array} & \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred-in costs } & \$ 630,000 \\\hline \text { Units completed during March } & 42,000 \\\hline \text { Costs added during March: } & \\\hline \text { Direct materials } & \$ 157,500 \\\hline \text { Conversion costs } & \$ 230,725 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } & 10,000 \\\hline \begin{array}{l}\text { (100\% complete as to direct materials and } 45 \% \text { complete } \\\text { as to conversion costs) }\end{array} & \\\hline\end{array}$
What was the total cost of ending work in process inventory?

A) $199,525
B) $270,500
C) $219,750
D) $199,750

Question 66

Ferrell Glass Company uses a process costing system. The company reported a beginning inventory of 18,000 units that were 40% complete with respect to direct materials. During the month, 90,000 units were started and ending inventory amounted to 12,000 units that were 100% complete with respect to direct materials. What were the equivalent units of production for direct materials?

A) 109,200
B) 108,000
C) 87,600
D) 92,400

Question 67

SAM Corporation manufactures skateboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:
$\begin{array}{|l|r|}\hline \text { Work in process inventory beginning: } & \\\hline \text { Number of units } & 7,000 \\\hline \text { Transferred-in costs } & \$ 98,000 \\\hline \text { Direct materials }(100 \% \text { complete) } & \$ 24,500 \\\hline \text { Conversion costs }(65 \% \text { complete) } & \$ 22,750 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { March: }\end{array} \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred-in costs } & \$ 630,000 \\\hline \text { Costs added during March: } & \\\hline{\text { Direct materials }} & \$ 155,040 \\\hline{\text { Conversion costs }} & \$ 230,710 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } &10,000 \\\hline \begin{array}{l}\text { (50\% complete as to direct materials and } 40 \% \text { complete as } \\\text { to conversion costs) }\end{array} & \\\hline\end{array}$
What were the equivalent units of production for direct materials?

A) 47,000
B) 45,000
C) 42,000
D) 46,500

Question 68

SAM Corporation manufactures skateboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:
$\begin{array}{|l|r|}\hline \text { Work in process inventory beginning: } & \\\hline \text { Number of units } & 7,000 \\\hline \text { Transferred-in costs } & \$ 98,000 \\\hline \text { Direct materials }(100 \% \text { complete) } & \$ 24,500 \\\hline \text { Conversion costs }(65 \% \text { complete) } & \$ 22,750 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { March: }\end{array} \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred-in costs } & \$ 630,000 \\\hline \text { Costs added during March: } & \\\hline{\text { Direct materials }} & \$ 155,040 \\\hline{\text { Conversion costs }} & \$ 230,710 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } &10,000 \\\hline \begin{array}{l}\text { (50\% complete as to direct materials and } 40 \% \text { complete as } \\\text { to conversion costs) }\end{array} & \\\hline\end{array}$
What were the equivalent units of production for conversion costs?

A) 52,000
B) 42,000
C) 47,000
D) 46,000

Question 69

SAM Corporation manufactures skateboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:
$\begin{array}{|l|r|}\hline \text { Work in process inventory beginning: } & \\\hline \text { Number of units } & 7,000 \\\hline \text { Transferred-in costs } & \$ 98,000 \\\hline \text { Direct materials }(100 \% \text { complete) } & \$ 24,500 \\\hline \text { Conversion costs }(65 \% \text { complete) } & \$ 22,750 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { March: }\end{array} \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred-in costs } & \$ 630,000 \\\hline \text { Costs added during March: } & \\\hline{\text { Direct materials }} & \$ 155,040 \\\hline{\text { Conversion costs }} & \$ 230,710 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } &10,000 \\\hline \begin{array}{l}\text { (50\% complete as to direct materials and } 40 \% \text { complete as } \\\text { to conversion costs) }\end{array} & \\\hline\end{array}$
What would be the total cost of the units transferred to finished goods inventory?

A) $1,032,750
B) $979,860
C) $375,900
D) $803,250

Question 70

SAM Corporation manufactures skateboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:
$\begin{array}{|l|r|}\hline \text { Work in process inventory beginning: } & \\\hline \text { Number of units } & 7,000 \\\hline \text { Transferred-in costs } & \$ 98,000 \\\hline \text { Direct materials }(100 \% \text { complete) } & \$ 24,500 \\\hline \text { Conversion costs }(65 \% \text { complete) } & \$ 22,750 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { March: }\end{array} \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred-in costs } & \$ 630,000 \\\hline \text { Costs added during March: } & \\\hline{\text { Direct materials }} & \$ 155,040 \\\hline{\text { Conversion costs }} & \$ 230,710 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } &10,000 \\\hline \begin{array}{l}\text { (50\% complete as to direct materials and } 40 \% \text { complete as } \\\text { to conversion costs) }\end{array} & \\\hline\end{array}$
What would be the total cost of units in the ending work in process inventory?

A) $103,275
B) $181,140
C) $229,500
D) $175,000

Question 71

SAM Corporation manufactures skateboards using a two-department process. Direct materials are added in both the Assembly and Shaping Departments. Conversion costs are applied uniformly throughout the process. Data for the Shaping Department for the month of March follows:
$\begin{array}{|l|r|}\hline \text { Work in process inventory beginning: } & \\\hline \text { Number of units } & 7,000 \\\hline \text { Transferred-in costs } & \$ 98,000 \\\hline \text { Direct materials }(100 \% \text { complete) } & \$ 24,500 \\\hline \text { Conversion costs }(65 \% \text { complete) } & \$ 22,750 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { March: }\end{array} \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred-in costs } & \$ 630,000 \\\hline \text { Costs added during March: } & \\\hline{\text { Direct materials }} & \$ 155,040 \\\hline{\text { Conversion costs }} & \$ 230,710 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } &10,000 \\\hline \begin{array}{l}\text { (50\% complete as to direct materials and } 40 \% \text { complete as } \\\text { to conversion costs) }\end{array} & \\\hline\end{array}$
What would the journal entry be to record the transfer of product from the Assembly Department to the Shaping Department during March?

A)
$$\begin{array} { | l | l | l | l | } \hline \begin{array} { l } \text { Work in Process Inventory- } \\\text { Shaping }\end{array} & &728,000 \\\hline & \begin{array} { l } \text { Work in Process Inventory- } \\\text { Assembly }\end{array} & &728,000 \\\hline\end{array}$$
B)
$$\begin{array} { | l | l | l | l | } \hline \begin{array} { l } \text { Work in Process Inventory- } \\\text { Assembly }\end{array} & & 728,000 & \\\hline & \begin{array} { l } \text { Work in Process Inventory- } \\\text { Shaping }\end{array} & & 728,000 \\\hline\end{array}$$
C)
$$\begin{array} { | l | l | l | l | } \hline \begin{array} { l } \text { Work in Process Inventory- } \\\text { Shaping }\end{array} & & 630,000 & \\\hline & \begin{array} { l } \text { Work in Process Inventory- } \\\text { Assembly }\end{array} & & 630,000 \\\hline\end{array}$$
D)
$$\begin{array} { | l | l | l | l | } \hline \begin{array} { l } \text { Work in Process Inventory- } \\\text { Assembly }\end{array} & 630,000 & \\\hline & \begin{array} { l } \text { Work in Process Inventory- } \\\text { Shaping }\end{array} & & 630,000 \\\hline\end{array}$$

Question 72

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:
$\begin{array}{|l|r|}\hline \text { Beginning work in process inventory: } & \\\hline \text { Number of units } & 14,000 \\\hline \text { Transferred-in costs } & \$ 78,940 \\\hline \text { Direct materials (100\% complete) } & \$ 22,420 \\\hline {\text { Conversion costs (65\% complete) }} & \$ 21,385 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { April: }\end{array} & \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred in costs } & \$ 540,900 \\\hline \text { Costs added during April: } & \\\hline \text { Direct materials } & \$ 157,500 \\\hline \text { Conversion costs } & \$ 230,837 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } &17,000 \\\hline(100 \% \text { complete as to direct materials and } 45 \% \text { complete } & \\\text { as to conversion costs) } & \\\hline\end{array}$
What was the total number of physical units to account for during April?

A) 59,000
B) 42,000
C) 45,000
D) 52,000

Question 73

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:
$\begin{array}{|l|r|}\hline \text { Beginning work in process inventory: } & \\\hline \text { Number of units } & 14,000 \\\hline \text { Transferred-in costs } & \$ 78,940 \\\hline \text { Direct materials (100\% complete) } & \$ 22,420 \\\hline {\text { Conversion costs (65\% complete) }} & \$ 21,385 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { April: }\end{array} & \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred in costs } & \$ 540,900 \\\hline \text { Costs added during April: } & \\\hline \text { Direct materials } & \$ 157,500 \\\hline \text { Conversion costs } & \$ 230,837 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } &17,000 \\\hline(100 \% \text { complete as to direct materials and } 45 \% \text { complete } & \\\text { as to conversion costs) } & \\\hline\end{array}$ What were the equivalent units of production for direct materials?

A) 45,000
B) 59,000
C) 42,000
D) 38,000

Question 74

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:
$\begin{array}{|l|r|}\hline \text { Beginning work in process inventory: } & \\\hline \text { Number of units } & 14,000 \\\hline \text { Transferred-in costs } & \$ 78,940 \\\hline \text { Direct materials (100\% complete) } & \$ 22,420 \\\hline {\text { Conversion costs (65\% complete) }} & \$ 21,385 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { April: }\end{array} & \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred in costs } & \$ 540,900 \\\hline \text { Costs added during April: } & \\\hline \text { Direct materials } & \$ 157,500 \\\hline \text { Conversion costs } & \$ 230,837 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } &17,000 \\\hline(100 \% \text { complete as to direct materials and } 45 \% \text { complete } & \\\text { as to conversion costs) } & \\\hline\end{array}$ What were the equivalent units of production for conversion costs?

A) 49,650
B) 52,000
C) 42,000
D) 45,450

Question 75

PCS Corporation manufactures clocks using a two-department process. Direct materials are added in both the Assembly and Finishing Departments. Conversion costs are applied uniformly throughout the process. The weighted-average method of process costing is used. Data for the Finishing Department for the month of April follow:
$\begin{array}{|l|r|}\hline \text { Beginning work in process inventory: } & \\\hline \text { Number of units } & 14,000 \\\hline \text { Transferred-in costs } & \$ 78,940 \\\hline \text { Direct materials (100\% complete) } & \$ 22,420 \\\hline {\text { Conversion costs (65\% complete) }} & \$ 21,385 \\\hline \begin{array}{l}\text { Units transferred in from Assembly Department during } \\\text { April: }\end{array} & \\\hline \text { Number of units } & 45,000 \\\hline \text { Transferred in costs } & \$ 540,900 \\\hline \text { Costs added during April: } & \\\hline \text { Direct materials } & \$ 157,500 \\\hline \text { Conversion costs } & \$ 230,837 \\\hline \text { Ending work in process inventory } & \\\hline \text { Number of units } &17,000 \\\hline(100 \% \text { complete as to direct materials and } 45 \% \text { complete } & \\\text { as to conversion costs) } & \\\hline\end{array}$ What was the cost per equivalent unit of production for conversion costs?

A) $4.00
B) $4.28
C) $5.08
D) $3.50

Question 76

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:
$$\begin{array} { | l | r | } \hline \text { Beginning work in process inventory } & 33,500 \text { units } \\\hline \text { Units completed } & 325,000 \text { units } \\\hline \text { Ending work in process inventory } & 58,500 \text { units } \\\hline \text { Cost of direct materials added during the current period } & \$ 962,500 \\\hline \text { Cost of conversion added during the current period } & \$ 714,890 \\\hline \text { Cost of direct materials contained in beginning work in process inventory } & \$ 92,125 \\\hline \text { Cost of conversion contained in beginning work in process inventory } & \$ 51,590 \\\hline\end{array}$$ What was the number of equivalent units of production for direct materials?

A) 324,950
B) 350,000
C) 383,500
D) 325,000

Question 77

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:
$$\begin{array} { | l | r | } \hline \text { Beginning work in process inventory } & 33,500 \text { units } \\\hline \text { Units completed } & 325,000 \text { units } \\\hline \text { Ending work in process inventory } & 58,500 \text { units } \\\hline \text { Cost of direct materials added during the current period } & \$ 962,500 \\\hline \text { Cost of conversion added during the current period } & \$ 714,890 \\\hline \text { Cost of direct materials contained in beginning work in process inventory } & \$ 92,125 \\\hline \text { Cost of conversion contained in beginning work in process inventory } & \$ 51,590 \\\hline\end{array}$$ What were the equivalent units of production for conversion costs?

A) 383,500
B) 325,750
C) 324,950
D) 348,400

Question 78

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:
$$\begin{array} { | l | r | } \hline \text { Beginning work in process inventory } & 33,500 \text { units } \\\hline \text { Units completed } & 325,000 \text { units } \\\hline \text { Ending work in process inventory } & 58,500 \text { units } \\\hline \text { Cost of direct materials added during the current period } & \$ 962,500 \\\hline \text { Cost of conversion added during the current period } & \$ 714,890 \\\hline \text { Cost of direct materials contained in beginning work in process inventory } & \$ 92,125 \\\hline \text { Cost of conversion contained in beginning work in process inventory } & \$ 51,590 \\\hline\end{array}$$ What was the equivalent cost per unit of production for direct materials?

A) $2.75
B) $3.25
C) $3.01
D) $2.20

Question 79

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:
$$\begin{array} { | l | r | } \hline \text { Beginning work in process inventory } & 33,500 \text { units } \\\hline \text { Units completed } & 325,000 \text { units } \\\hline \text { Ending work in process inventory } & 58,500 \text { units } \\\hline \text { Cost of direct materials added during the current period } & \$ 962,500 \\\hline \text { Cost of conversion added during the current period } & \$ 714,890 \\\hline \text { Cost of direct materials contained in beginning work in process inventory } & \$ 92,125 \\\hline \text { Cost of conversion contained in beginning work in process inventory } & \$ 51,590 \\\hline\end{array}$$ What was the equivalent cost per unit of production for conversion costs?

A) $3.25
B) $2.20
C) $2.36
D) $1.86

Question 80

Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:
$$\begin{array} { | l | r | } \hline \text { Beginning work in process inventory } & 33,500 \text { units } \\\hline \text { Units completed } & 325,000 \text { units } \\\hline \text { Ending work in process inventory } & 58,500 \text { units } \\\hline \text { Cost of direct materials added during the current period } & \$ 962,500 \\\hline \text { Cost of conversion added during the current period } & \$ 714,890 \\\hline \text { Cost of direct materials contained in beginning work in process inventory } & \$ 92,125 \\\hline \text { Cost of conversion contained in beginning work in process inventory } & \$ 51,590 \\\hline\end{array}$$ What is the total cost of units transferred to finished goods inventory?

A) $1,608,750
B) $1,823,000
C) $1,769,515
D) $1,660,750