Accounting Chapter 4s 6 April One The Processing Departments Salatino

4S-167

4S-168

4S-169

62.

Muzyka 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

300

Materials costs

$5,900

Conversion costs

$3,000

Percent complete with respect to materials

85%

Percent complete with respect to conversion

20%

Units started into production during the month

5,300

Units transferred to the next department during

the month

4,800

Materials costs added during the month

$105,900

Conversion costs added during the month

$225,200

Ending work in process inventory:

Units in ending work in process inventory

800

Percent complete with respect to materials

50%

Percent complete with respect to conversion

40%

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.

The cost of ending work in process inventory in the first processing department according

to the company’s cost system is closest to:

4S-170

4S-171

4S-172

63.

Pushkin 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

200

Materials costs

$3,600

Conversion costs

$1,300

Percent complete with respect to materials

80%

Percent complete with respect to conversion

15%

Units started into production during the month

8,500

Units transferred to the next department during

the month

7,900

Materials costs added during the month

$168,700

Conversion costs added during the month

$337,100

Ending work in process inventory:

Units in ending work in process inventory

800

Percent complete with respect to materials

50%

Percent complete with respect to conversion

30%

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 materials for the month in the first processing

department?

4S-173

4S-174

64.

Pushkin 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

200

Materials costs

$3,600

Conversion costs

$1,300

Percent complete with respect to materials

80%

Percent complete with respect to conversion

15%

Units started into production during the month

8,500

Units transferred to the next department during

the month

7,900

Materials costs added during the month

$168,700

Conversion costs added during the month

$337,100

Ending work in process inventory:

Units in ending work in process inventory

800

Percent complete with respect to materials

50%

Percent complete with respect to conversion

30%

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 conversion costs for the first department for the month is

closest to:

4S-175

4S-176

65.

Pushkin 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

200

Materials costs

$3,600

Conversion costs

$1,300

Percent complete with respect to materials

80%

Percent complete with respect to conversion

15%

Units started into production during the month

8,500

Units transferred to the next department during

the month

7,900

Materials costs added during the month

$168,700

Conversion costs added during the month

$337,100

Ending work in process inventory:

Units in ending work in process inventory

800

Percent complete with respect to materials

50%

Percent complete with respect to conversion

30%

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 total cost transferred from the first processing department to the next processing

department during the month is closest to:

4S-178

4S-179

66.

In April, one of the processing departments at Salatino Corporation had beginning work in

process inventory of $27,000 and ending work in process inventory of $36,000. During the

month, the cost of units transferred out from the department was $261,000. The company

uses the FIFO method in its process costing system.

In the department’s cost reconciliation report for April, the costs added to production in

the department would be:

4S-180

67.

In April, one of the processing departments at Salatino Corporation had beginning work in

process inventory of $27,000 and ending work in process inventory of $36,000. During the

month, the cost of units transferred out from the department was $261,000. The company

uses the FIFO method in its process costing system.

In the department’s cost reconciliation report for April, the total cost accounted for would

be:

Essay Questions

4S-181

68.

Sharp Company has a process costing system. The following data relate to the company’s

Mixing Department for a recent month:

Units

Conversion Percent Complete

Beginning work in process inventory

4,000

70%

Units started into production

30,000

Units completed and transferred out

29,000

Ending work in process inventory

5,000

30%

Ending work in process inventory:

Equivalent units of production

All materials are added at the beginning of the Mixing process.

Required:

a. Compute the equivalent units of production for materials and conversion using the

weighted-average method.

b. Compute the equivalent units of production for materials and conversion using the

FIFO method.

4S-182

4S-183

69.

The following data have been provided by Felux Corporation for the Circuit Prep

Department. The company uses the FIFO method in its process costing.

Units in process, August 1: materials 70% complete, conversion 15% complete

700

Units started into production during August

7,500

Units started and completed during August

5,700

Units completed and transferred to the next department during August

6,400

Units in process, August 31: materials 90% complete, conversion 30% complete

1,800

Units started and completed

Ending work in process:

Required:

Determine the equivalent units of production for the Circuit Prep Department for August

using the FIFO method.

4S-184

4S-185

70.

Toefield Corporation uses the FIFO method in its process costing. The following data

pertain to its Assembly Department for June.

Units in process, June 1: materials 60% complete, conversion 15% complete

800

Units started into production during June

7,600

Units completed and transferred to the next department

6,500

Units in process, June 30: materials 70% complete, conversion 45% complete

1,900

Units started and completed

Ending work in process:

Required:

Determine the equivalent units of production for the Assembly Department for June using

the FIFO method.

4S-186