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4S-87
21.
Qart Corporation uses the FIFO method in its process costing system. Operating data for
the Cutting Department for the month of March appear below:
Units
Percent Complete with
Respect to Conversion
Beginning work in process
inventory
4,500
20%
Transferred in from the prior
department during March
74,000
Completed and transferred to
the next department during
March
74,500
Ending work in process
inventory
4,000
60%
According to the company’s records, the conversion cost in beginning work in process
inventory was $1,656 at the beginning of March. Additional conversion costs of $129,960
were incurred in the department during the month.
The cost per equivalent unit for conversion costs for March is closest to:
4S-88
4S-89
22.
Index Corporation uses the FIFO method in its process costing system. The first
processing department, the Forming Department, started the month with 17,000 units in
its beginning work in process inventory that were 10% complete with respect to conversion
costs. The conversion cost in this beginning work in process inventory was $9,010. An
additional 76,000 units were started into production during the month and 83,000 units
were completed and transferred to the next processing department. There were 10,000
units in the ending work in process inventory of the Forming Department that were 70%
complete with respect to conversion costs. A total of $445,915 in conversion costs were
incurred in the department during the month.
The cost per equivalent unit for conversion costs for the month is closest to:
4S-90
4S-91
23.
Marten Corporation uses the FIFO method in its process costing system. Operating data
for the Casting Department for the month of September appear below:
Units
Percent Complete with Respect to
Conversion
Beginning work in process inventory
19,000
80%
Transferred in from the prior department
during September
74,000
Ending work in process inventory
17,000
90%
To complete beginning work in process:
Conversion: 19,000 units (100% – 80%)
Units started and completed
According to the company’s records, the conversion cost in beginning work in process
inventory was $83,600 at the beginning of September. Additional conversion costs of
$427,682 were incurred in the department during the month.
The cost per equivalent unit for conversion costs for September is closest to: (Round off
to three decimal places.)
4S-92
4S-93
24.
Ebis Corporation uses the FIFO method in its process costing system. The first processing
department, the Welding Department, started the month with 13,000 units in its beginning
work in process inventory that were 10% complete with respect to conversion costs. The
conversion cost in this beginning work in process inventory was $12,610. An additional
89,000 units were started into production during the month. There were 22,000 units in the
ending work in process inventory of the Welding Department that were 30% complete with
respect to conversion costs. A total of $806,085 in conversion costs were incurred in the
department during the month.
The cost per equivalent unit for conversion costs is closest to:
4S-94
4S-95
25.
Overhill Corporation uses the FIFO method in its process costing system. In the Cutting
Department in June, units were 80% complete with respect to conversion in the beginning
work in process inventory and 25% complete with respect to conversion in the ending work
in process inventory. Other data for the department for June follow:
Units
Conversion
Cost
Beginning work in process inventory
20,000
$40,000
Units started into production, and costs incurred during the
month
150,000
$186,000
Units completed and transferred out
130,000
The cost per equivalent unit for conversion cost is closest to:
4S-97
26.
Williams Corporation uses the FIFO method in its process costing system. The beginning
work in process inventory in a particular department consisted of 10,000 units, 100%
complete with respect to materials and 60% with respect to conversion costs. The total
cost in the beginning work in process inventory was $48,200. During the month, 25,000
units were transferred out of the department. The costs per equivalent unit were
computed to be $3.10 for materials and $4.50 for conversion costs. The total cost of the
units completed and transferred out of the department was:
4S-99
27.
Tarten Corporation uses the FIFO method in its process costing system. Operating data for
the Curing Department for the month of March appear below:
Units
Percent Complete with Respect
to Conversion
Beginning work in process inventory
9,000
10%
Transferred in from the prior department
during March
57,000
Completed and transferred to the next
department during March
65,000
Ending work in process inventory
1,000
70%
To complete beginning work in process:
Conversion: 9,000 units (100% – 10%)
According to the company’s records, the conversion cost in beginning work in process
inventory was $7,470 at the beginning of March. The cost per equivalent unit for
conversion costs for March was $8.20.
How much conversion cost would be assigned to the units completed and transferred out
of the department during March?
4S-101
4S-102
28.
Steven Corporation uses the FIFO method in its process costing system. Department A’s
beginning work in process inventory consisted of 15,000 units, 100% complete with
respect to materials and 40% complete with respect to conversion costs. The total cost of
this inventory was $31,000. A total of 40,000 units were transferred out during the month.
The costs per equivalent unit were computed to be $1.30 for materials and $2.20 for
conversion costs. The cost of the units completed and transferred out was:
4S-103
29.
In November, one of the processing departments at Goodsell Corporation had beginning
work in process inventory of $36,000 and ending work in process inventory of $35,000.
During the month, $427,000 of costs were added to production and the cost of units
transferred out from the department was $428,000. The company uses the FIFO method in
its process costing system. In the department’s cost reconciliation report for November,
the total cost to be accounted for would be:
30.
In October, one of the processing departments at Ridling Corporation had ending work in
process inventory of $39,000. During the month, $252,000 of costs were added to
production and the cost of units transferred out from the department was $235,000. The
company uses the FIFO method in its process costing system. In the department’s cost
reconciliation report for October, the total cost to be accounted for would be:
4S-106
31.
Information about units processed and processing costs incurred during a recent month in
the Refining Department of a manufacturing company follow:
Number of
Units
Percent Completion Conversion
Costs
Beginning work in process
inventory
11,000
35%
Units started into production
120,000
Units completed and transferred
out
114,000
Ending work in process inventory
17,000
30%
The beginning work in process inventory included $11,000 of conversion cost. During the
month, the Department incurred an additional $290,000 in conversion costs.
Assuming that the company uses the weighted-average cost method, what are the
equivalent units for conversion costs for the Blending Department for the month?
Units transferred to the next department
Ending work in process inventory:
