4S-127
4S-128
42.
Higgins Labs Inc., uses a process costing system. The following data are available for one
department for October:
Percent
Complete
Materials
Conversion
Work in process, beginning
60%
30%
Work in process, ending
80%
70%
The department started 45,000 units into production during the month and completed and
transferred 50,000 units to the next department.
Assuming the FIFO method is used, the equivalent units for conversion for October would
be:
Materials
Conversion
To complete beginning work in process inventory:
Units started and completed (50,000 – 10,000)
Ending work in process inventory:
4S-129
43.
Reid Corporation uses a process costing system in which units go through several
departments. In the Cutting Department for June, units in the beginning work in process
inventory were 80% complete with respect to conversion costs. Units in the ending work in
process inventory were 25% complete with respect to conversion costs. Other data for the
department for June are as follows:
Units
Conversion
Cost
Work in process inventory on June 1
15,000
$50,200
Units started into production
145,000
Conversion costs incurred during June
$175,700
Units completed and transferred to the next department during
June
130,000
Assuming that the company uses the FIFO cost method, the cost per equivalent unit for
conversion costs for June is closest to:
44.
Reid Corporation uses a process costing system in which units go through several
departments. In the Cutting Department for June, units in the beginning work in process
inventory were 80% complete with respect to conversion costs. Units in the ending work in
process inventory were 25% complete with respect to conversion costs. Other data for the
department for June are as follows:
Units
Conversion
Cost
Work in process inventory on June 1
15,000
$50,200
Units started into production
145,000
Conversion costs incurred during June
$175,700
Units completed and transferred to the next department during
June
130,000
Assuming that the company uses the weighted-average method, the cost per equivalent
unit for conversion costs for June is closest to:
4S-133
4S-134
45.
The following information was obtained from the records of the first processing
department of Bapst Corporation for the month of May. The company uses the FIFO
method in its process costing system.
Units
Labor and Overhead Percent Complete
Work in process inventory, May 1
3,000
30%
Started into production during the
month
20,000
Work in process inventory, May 31
4,000
40%
To complete beginning work in process inventory:
Units started and completed
Ending work in process inventory:
All materials are added at the beginning of the manufacturing process.
The equivalent units for labor and overhead for the month is:
4S-135
4S-136
46.
The following information was obtained from the records of the first processing
department of Bapst Corporation for the month of May. The company uses the FIFO
method in its process costing system.
Units
Labor and Overhead Percent Complete
Work in process inventory, May 1
3,000
30%
Started into production during the
month
20,000
Work in process inventory, May 31
4,000
40%
Materials
Units started and completed
All materials are added at the beginning of the manufacturing process.
The equivalent units for materials for the month is:
4S-137
47.
Marlan Manufacturing produces a product that passes through two processing
departments. The units from the Molding Department are completed in the Assembly
Department. The activity in the Assembly Department for the current month is presented
below. Marlan uses the FIFO method in its process costing system.
Units in beginning Work In Process inventory
(materials 0% complete; conversion 25% complete)
Units transferred in from the Molding Department during the month
Units completed and transferred to Finished Goods
Units in ending Work In Process inventory
(materials 0% complete; conversion 40% complete)
The equivalent units (with respect to the Molding Department’s costs) transferred from
the Molding Department to the Assembly during the month were:
4S-139
48.
Marlan Manufacturing produces a product that passes through two processing
departments. The units from the Molding Department are completed in the Assembly
Department. The activity in the Assembly Department for the current month is presented
below. Marlan uses the FIFO method in its process costing system.
Units in beginning Work In Process inventory
(materials 0% complete; conversion 25% complete)
Units transferred in from the Molding Department during the month
Units completed and transferred to Finished Goods
Units in ending Work In Process inventory
(materials 0% complete; conversion 40% complete)
To complete beginning work in process
inventory:
The equivalent units for materials for the Assembly Department during the month were:
4S-140
4S-141
49.
Marlan Manufacturing produces a product that passes through two processing
departments. The units from the Molding Department are completed in the Assembly
Department. The activity in the Assembly Department for the current month is presented
below. Marlan uses the FIFO method in its process costing system.
Units in beginning Work In Process inventory
(materials 0% complete; conversion 25% complete)
Units transferred in from the Molding Department during the month
Units completed and transferred to Finished Goods
Units in ending Work In Process inventory
(materials 0% complete; conversion 40% complete)
To complete beginning work in process
inventory:
The equivalent units for conversion costs for the Assembly Department during the month
were:
4S-142
4S-143
50.
Ozogoz 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
500
Materials costs
$8,900
Conversion costs
$3,900
Percent complete with respect to materials
85%
Percent complete with respect to conversion
30%
Units started into production during the month
9,800
Units transferred to the next department during
the month
9,100
Materials costs added during the month
$176,500
Conversion costs added during the month
$223,400
Ending work in process inventory:
Units in ending work in process inventory
1,200
Percent complete with respect to materials
65%
Percent complete with respect to conversion
25%
Note: Your answers may differ from those offered below due to rounding error. In all
cases, select the answer that is the closest to the answer you computed. To reduce
rounding error, carry out all computations to at least three decimal places.
What are the equivalent units for conversion costs for the month in the first processing
department?
4S-144
4S-145
51.
Ozogoz 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
500
Materials costs
$8,900
Conversion costs
$3,900
Percent complete with respect to materials
85%
Percent complete with respect to conversion
30%
Units started into production during the month
9,800
Units transferred to the next department during
the month
9,100
Materials costs added during the month
$176,500
Conversion costs added during the month
$223,400
Ending work in process inventory:
Units in ending work in process inventory
1,200
Percent complete with respect to materials
65%
Percent complete with respect to conversion
25%
Note: Your answers may differ from those offered below due to rounding error. In all
cases, select the answer that is the closest to the answer you computed. To reduce
rounding error, carry out all computations to at least three decimal places.
The cost per equivalent unit for materials for the month in the first processing department
is closest to:
4S-146