81
72) Mullins 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
700
Materials costs
$
11,500
Conversion costs
$
22,200
Percent complete with respect to materials
75
%
Percent complete with respect to conversion
65
%
Units started into production during the month
8,600
Units transferred to the next department during the month
7,800
Materials costs added during the month
$
159,300
Conversion costs added during the month
$
348,500
Ending work in process inventory:
Units in ending work in process inventory
1,500
Percent complete with respect to materials
65
%
Percent complete with respect to conversion
50
%
The cost per equivalent unit for materials for the month in the first processing department is closest
to:
A) $20.42
B) $21.90
C) $19.31
D) $17.13
73) Mullins 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
700
Materials costs
$
11,500
Conversion costs
$
22,200
Percent complete with respect to materials
75
%
Percent complete with respect to conversion
65
%
Units started into production during the month
8,600
Units transferred to the next department during the month
7,800
Materials costs added during the month
$
159,300
Conversion costs added during the month
$
348,500
Ending work in process inventory:
Units in ending work in process inventory
1,500
Percent complete with respect to materials
65
%
Percent complete with respect to conversion
50
%
The cost per equivalent unit for conversion costs for the first department for the month is closest
to:
A) $48.79
B) $45.20
C) $44.68
D) $43.05
74) Mullins 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
700
Materials costs
$
11,500
Conversion costs
$
22,200
Percent complete with respect to materials
75
%
Percent complete with respect to conversion
65
%
Units started into production during the month
8,600
Units transferred to the next department during the month
7,800
Materials costs added during the month
$
159,300
Conversion costs added during the month
$
348,500
Ending work in process inventory:
Units in ending work in process inventory
1,500
Percent complete with respect to materials
65
%
Percent complete with respect to conversion
50
%
The cost of a completed unit transferred out of the department is closest to:
A) $62.36
B) $76.27
C) $66.10
D) $58.23
75) Mullins 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
700
Materials costs
$
11,500
Conversion costs
$
22,200
Percent complete with respect to materials
75
%
Percent complete with respect to conversion
65
%
Units started into production during the month
8,600
Units transferred to the next department during the month
7,800
Materials costs added during the month
$
159,300
Conversion costs added during the month
$
348,500
Ending work in process inventory:
Units in ending work in process inventory
1,500
Percent complete with respect to materials
65
%
Percent complete with respect to conversion
50
%
The total cost transferred from the first processing department to the next processing department
during the month is closest to:
A) $490,385
B) $579,948
C) $507,800
D) $541,500
To complete beginning work in process:
Units started and completed
Ending work in process:
Materials: 1,500 units × 65%
Conversion: 1,500 units × 50%
Equivalent units of production
76) Mullins 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
700
Materials costs
$
11,500
Conversion costs
$
22,200
Percent complete with respect to materials
75
%
Percent complete with respect to conversion
65
%
Units started into production during the month
8,600
Units transferred to the next department during the month
7,800
Materials costs added during the month
$
159,300
Conversion costs added during the month
$
348,500
Ending work in process inventory:
Units in ending work in process inventory
1,500
Percent complete with respect to materials
65
%
Percent complete with respect to conversion
50
%
The cost of ending work in process inventory in the first processing department according to the
company’s cost system is closest to:
A) $51,115
B) $46,770
C) $93,540
D) $60,801
77) Puri 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
400
Materials costs
$
4,800
Conversion costs
$
3,300
Percent complete with respect to materials
85
%
Percent complete with respect to conversion
45
%
Units started into production during the month
5,800
Units transferred to the next department during the month
5,100
Materials costs added during the month
$
69,500
Conversion costs added during the month
$
82,300
Ending work in process inventory:
Units in ending work in process inventory
1,100
Percent complete with respect to materials
55
%
Percent complete with respect to conversion
45
%
What are the equivalent units for materials for the month in the first processing department?
A) 605
B) 6,200
C) 4,700
D) 5,365
78) Puri 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
400
Materials costs
$
4,800
Conversion costs
$
3,300
Percent complete with respect to materials
85
%
Percent complete with respect to conversion
45
%
Units started into production during the month
5,800
Units transferred to the next department during the month
5,100
Materials costs added during the month
$
69,500
Conversion costs added during the month
$
82,300
Ending work in process inventory:
Units in ending work in process inventory
1,100
Percent complete with respect to materials
55
%
Percent complete with respect to conversion
45
%
The cost per equivalent unit for conversion costs for the first department for the month is closest
to:
A) $15.20
B) $18.33
C) $15.96
D) $16.14
79) Puri 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
400
Materials costs
$
4,800
Conversion costs
$
3,300
Percent complete with respect to materials
85
%
Percent complete with respect to conversion
45
%
Units started into production during the month
5,800
Units transferred to the next department during the month
5,100
Materials costs added during the month
$
69,500
Conversion costs added during the month
$
82,300
Ending work in process inventory:
Units in ending work in process inventory
1,100
Percent complete with respect to materials
55
%
Percent complete with respect to conversion
45
%
The total cost transferred from the first processing department to the next processing department
during the month is closest to:
A) $159,900
B) $151,800
C) $174,549
D) $144,539
To complete beginning work in process:
Units started and completed
Materials: 1,100 units × 55%
Conversion: 1,100 units × 45%
80) The following information relates to the Cutting Department of Kittina Corporation for the
month of February. Kittina uses a FIFO process costing system. All materials at Kittina are added
at the beginning of the production process.
Units
Percent Complete
Conversion costs
Work in process, February 1
18,000
10
%
Units started into production
160,000
Work in process, February 28
7,000
40
%
On February 1, the work in process inventory account contained $55,620 of material cost and
$123,120 of conversion cost. Cost per equivalent unit for February was $3.10 for materials and
$7.50 for conversion costs.
What total amount of cost should be assigned to the units completed and transferred out during
February?
A) $1,814,040
B) $1,743,300
C) $1,922,040
D) $1,812,600
To complete beginning work in process inventory:
0
Units started and completed
Ending work in process:
Materials: 7,000 units × 100%
Conversion: 7,000 units × 40%
Equivalent units of production
81) The following information relates to the Cutting Department of Kittina Corporation for the
month of February. Kittina uses a FIFO process costing system. All materials at Kittina are added
at the beginning of the production process.
Units
Percent Complete
Conversion costs
Work in process, February 1
18,000
10
%
Units started into production
160,000
Work in process, February 28
7,000
40
%
On February 1, the work in process inventory account contained $55,620 of material cost and
$123,120 of conversion cost. Cost per equivalent unit for February was $3.10 for materials and
$7.50 for conversion costs.
What total amount of cost should be assigned to the units in work in process on February 28?
A) $29,680
B) $42,700
C) $44,520
D) $53,200