Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
41) In February, one of the processing departments at Wyke Corporation had ending work in
process inventory of $15,000. During the month, $264,000 of costs were added to production and
the cost of units transferred out from the department was $273,000. The company uses the FIFO
method in its process costing system. In the department's cost reconciliation report for February,
the total cost to be accounted for would be:
A) $288,000
B) $576,000
C) $39,000
D) $552,000
42) Malmedy Corporation uses the FIFO method in its process costing system. The following data
pertain to operations in the first processing department for a recent month:
Work in process, beginning:
Units in process
?
Percent complete with respect to materials
75
%
Percent complete with respect to conversion
50
%
Costs in the beginning inventory:
Materials cost
$
2,300
Conversion cost
$
3,600
Units started into production during the month
25,200
Units completed and transferred out during the month
24,000
Costs added to production during the month:
Materials cost
$
98,750
Conversion cost
$
220,500
Work in process, ending:
Units in process
2,000
Percent complete with respect to materials
80
%
Percent complete with respect to conversion
45
%
How many units were in the beginning work in process inventory?
A) 600 units
B) 1,000 units
C) 800 units
D) 1,400 units
43) Malmedy Corporation uses the FIFO method in its process costing system. The following data
pertain to operations in the first processing department for a recent month:
Work in process, beginning:
Units in process
?
Percent complete with respect to materials
75
%
Percent complete with respect to conversion
50
%
Costs in the beginning inventory:
Materials cost
$
2,300
Conversion cost
$
3,600
Units started into production during the month
25,200
Units completed and transferred out during the month
24,000
Costs added to production during the month:
Materials cost
$
98,750
Conversion cost
$
220,500
Work in process, ending:
Units in process
2,000
Percent complete with respect to materials
80
%
Percent complete with respect to conversion
45
%
What was the cost per equivalent unit for materials during the month?
A) $3.95
B) $4.50
C) $2.00
D) $5.00
44) Qu Corporation uses the FIFO method in its process costing system. Data concerning the first
processing department for the most recent month are listed below:
Beginning work in process inventory:
Units in beginning work in process inventory
900
Materials costs
$
9,800
Conversion costs
$
9,200
Percent complete with respect to materials
55
%
Percent complete with respect to conversion
30
%
Units started into production during the month
8,400
Materials costs added during the month
$
130,400
Conversion costs added during the month
$
220,600
Ending work in process inventory:
Units in ending work in process inventory
2,200
Percent complete with respect to materials
65
%
Percent complete with respect to conversion
$
25
%
How many units were started AND completed during the month in the first processing
department?
A) 6,200
B) 8,400
C) 9,300
D) 7,100
45) Qu Corporation uses the FIFO method in its process costing system. Data concerning the first
processing department for the most recent month are listed below:
Beginning work in process inventory:
Units in beginning work in process inventory
900
Materials costs
$
9,800
Conversion costs
$
9,200
Percent complete with respect to materials
55
%
Percent complete with respect to conversion
30
%
Units started into production during the month
8,400
Materials costs added during the month
$
130,400
Conversion costs added during the month
$
220,600
Ending work in process inventory:
Units in ending work in process inventory
2,200
Percent complete with respect to materials
65
%
Percent complete with respect to conversion
$
25
%
The cost per equivalent unit for conversion costs for the first department for the month is closest
to:
A) $29.89
B) $34.07
C) $31.07
D) $31.38
46) Details of the manufacturing activity in Amy Corporation's Assembly Department for the
month of December is given below:
Number
of Units
Labor and Overhead
Percent Complete
Work in process inventory, Dec. 1
10,000
70
%
Started in assembly during the month
80,000
Work in process inventory, Dec. 31
15,000
40
%
All materials are added at the beginning of processing in the Assembly Department.
The equivalent units for labor and overhead for the month, using the FIFO method, is:
A) 90,000
B) 70,000
C) 80,000
D) 74,000
47) Details of the manufacturing activity in Amy Corporation's Assembly Department for the
month of December is given below:
Number
of Units
Labor and Overhead
Percent Complete
Work in process inventory, Dec. 1
10,000
70
%
Started in assembly during the month
80,000
Work in process inventory, Dec. 31
15,000
40
%
All materials are added at the beginning of processing in the Assembly Department.
The equivalent units for material for the month, using the FIFO method, is:
A) 80,000
B) 70,000
C) 74,000
D) 90,000
50
48) Details of the manufacturing activity in Amy Corporation's Assembly Department for the
month of December is given below:
Number
of Units
Labor and Overhead
Percent Complete
Work in process inventory, Dec. 1
10,000
70
%
Started in assembly during the month
80,000
Work in process inventory, Dec. 31
15,000
40
%
All materials are added at the beginning of processing in the Assembly Department.
The equivalent units for labor and overhead for the month, using the weighted-average method, is:
A) 162,000
B) 80,000
C) 81,000
D) 74,000
49) Details of the manufacturing activity in Amy Corporation's Assembly Department for the
51
month of December is given below:
Number
of Units
Labor and Overhead
Percent Complete
Work in process inventory, Dec. 1
10,000
70
%
Started in assembly during the month
80,000
Work in process inventory, Dec. 31
15,000
40
%
All materials are added at the beginning of processing in the Assembly Department.
The equivalent units for materials for the month, using the weighted-average method, is:
A) 81,000
B) 90,000
C) 70,000
D) 80,000
50) Activities in the Sargent Corporation's Assembly Department for the month of March follow:
Percent
Complete
Units
Materials
Conversion
Work-in-process inventory, March 1
7,000
70
%
35
%
Started into production during March
66,000
Work-in-process inventory, March 31
5,000
45
%
30
%
Using the weighted-average method, the equivalent units for materials for March would be:
A) 66,000
B) 68,000
C) 70,250
D) 71,000
51) Activities in the Sargent Corporation's Assembly Department for the month of March follow:
Percent
Complete
Units
Materials
Conversion
Work-in-process inventory, March 1
7,000
70
%
35
%
Started into production during March
66,000
Work-in-process inventory, March 31
5,000
45
%
30
%
Using the weighted-average method, the equivalent units for conversion for March would be:
A) 69,500
B) 68,000
C) 67,500
D) 71,000
52) Activities in the Sargent Corporation's Assembly Department for the month of March follow:
Percent Complete
Units
Materials
Conversion
Work-in-process inventory, March 1
7,000
70
%
35
%
Started into production during March
66,000
Work-in-process inventory, March 31
5,000
45
%
30
%
Using the FIFO method, the equivalent units for materials for March would be:
A) 68,000
B) 65,350
C) 71,000
D) 67,000
53) Activities in the Sargent Corporation's Assembly Department for the month of March follow:
Percent Complete
Units
Materials
Conversion
Work-in-process inventory, March 1
7,000
70
%
35
%
Started into production during March
66,000
Work-in-process inventory, March 31
5,000
45
%
30
%
Using the FIFO method, the equivalent units for conversion for March would be:
A) 62,950
B) 65,050
C) 66,000
D) 67,050
54) Activities in the Saggers Corporation's Assembly Department for the month of March follow:
Percent
Complete
Units
Materials
Conversion
Work-in-process inventory, March 1
6,000
60
%
45
%
Started into production during March
65,000
Work-in-process inventory, March 31
4,000
35
%
20
%
The equivalent units for conversion for March, using the weighted-average method, are:
A) 69,600 units
B) 67,800 units
C) 71,000 units
D) 69,000 units
55) Activities in the Sargent Corporation's Assembly Department for the month of March follow:
Percent Complete
Units
Materials
Conversion
Work-in-process inventory, March 1
6,000
60
%
45
%
Started into production during March
65,000
Work-in-process inventory, March 31
4,000
35
%
20
%
The equivalent units for materials for March, using the weighted-average method, are:
A) 69,000 units
B) 65,000 units
C) 68,400 units
D) 67,000 units
56) Activities in the Sargent Corporation's Assembly Department for the month of March follow:
Percent Complete
Units
Materials
Conversion
Work-in-process inventory, March 1
6,000
60
%
45
%
Started into production during March
65,000
Work-in-process inventory, March 31
4,000
35
%
20
%
The equivalent units for conversion for March, using the FIFO method, are:
A) 63,100 units
B) 65,000 units
C) 62,500 units
D) 65,100 units
57) Activities in the Sargent Corporation's Assembly Department for the month of March follow:
Percent Complete
Units
Materials
Conversion
Work-in-process inventory, March 1
6,000
60
%
45
%
Started into production during March
65,000
Work-in-process inventory, March 31
4,000
35
%
20
%
The equivalent units for materials for March, using the FIFO method, are:
A) 64,800 units
B) 59,800 units
C) 66,000 units
D) 67,200 units
58) Activities in the Challenger Corporation's Assembly Department for the month of March
follow:
Percent Complete
Units
Materials
Conversion
Work-in-process inventory, March 1
5,000
65
%
30
%
Started into production during March
65,000
Work-in-process inventory, March 31
3,000
35
%
25
%
Using the weighted-average method, the equivalent units for materials for March would be:
A) 65,000
B) 67,000
C) 68,050
D) 70,000
