C) 65,400 materials; 65,800 conversion.
D) 58,400 materials; 56,800 conversion.
E) 65,400 materials; 66,800 conversion.
121) Sparky Corporation uses the FIFO method of process costing. The following information is available
for February in its Molding Department:
Units:
Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to
conversion.
Units started and completed: 110,000.
Units completed and transferred out: 135,000.
Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion.
Costs:
Costs in beginning Work in Process – Direct Materials: $43,000.
Costs in beginning Work in Process – Conversion: $48,850.
Costs incurred in February – Direct Materials: $287,000.
Costs incurred in February – Conversion: $599,150.
Calculate the equivalent units of materials.
A) 110,000 B) 165,000 C) 130,250 D) 144,000 E) 140,000
124
122) Sparky Corporation uses the FIFO method of process costing. The following information is available
for February in its Molding Department:
Units:
Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to
conversion.
Units started and completed: 110,000.
Units completed and transferred out: 135,000.
Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion.
Costs:
Costs in beginning Work in Process – Direct Materials: $43,000.
Costs in beginning Work in Process – Conversion: $48,850.
Costs incurred in February – Direct Materials: $287,000.
Costs incurred in February – Conversion: $599,150.
Calculate the equivalent units of conversion.
A) 144,000 B) 110,000 C) 140,000 D) 130,250 E) 165,000
123) Sparky Corporation uses the FIFO method of process costing. The following information is available
for February in its Molding Department:
Units:
Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to
conversion.
Units started and completed: 110,000.
Units completed and transferred out: 135,000.
Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion.
Costs:
Costs in beginning Work in Process – Direct Materials: $43,000.
Costs in beginning Work in Process – Conversion: $48,850.
Costs incurred in February – Direct Materials: $287,000.
Costs incurred in February – Conversion: $599,150.
Calculate the cost per equivalent unit of materials.
A) $2.36 B) $1.74 C) $2.00 D) $2.05 E) $2.61
132
124) Sparky Corporation uses the FIFO method of process costing. The following information is available
for February in its Molding Department:
Units:
Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to
conversion.
Units started and completed: 110,000.
Units completed and transferred out: 135,000.
Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion.
Costs:
Costs in beginning Work in Process – Direct Materials: $43,000.
Costs in beginning Work in Process – Conversion: $48,850.
Costs incurred in February – Direct Materials: $287,000.
Costs incurred in February – Conversion: $599,150.
Calculate the cost per equivalent unit of conversion.
A) $4.60 B) $5.45 C) $4.16 D) $4.98 E) $4.50
137
125) Richards Corporation uses the FIFO method of process costing. The following information is
available for October in its Fabricating Department:
Units:
Beginning Inventory: 80,000 units, 60% complete as to materials and 20% complete as to
conversion.
Units started and completed: 250,000.
Units completed and transferred out: 330,000.
Ending Inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion.
Costs:
Costs in beginning Work in Process – Direct Materials: $37,200.
Costs in beginning Work in Process – Conversion: $79,700.
Costs incurred in October – Direct Materials: $646,800.
Costs incurred in October – Conversion: $919,300.
Calculate the equivalent units of materials.
A) 333,000 B) 250,000 C) 317,000 D) 342,000 E) 294,000
