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32. Landry Co. had the following information for the month of December. All direct materials
were one hundred percent complete, and beginning materials cost $14,000.
Work in Process Inventory
Beginning balance @ 12/1:
240 units, 10% completed
$17,000 Completed 960 units
and transferred them
to finished goods inventory
$168,000
Direct materials 65,000
Direct labor 41,000
Overhead Property taxes 7,000
Depreciation 38,000
Utilities 22,000
Indirect labor 5,000
Ending balance @ 12/31:
360 units, 20% completed
$27,000
Total equivalent units for materials under the FIFO method are calculated to be:
33. Landry Co. had the following information for the month of December. All direct materials
were one hundred percent complete, and beginning materials cost $14,000.
Work in Process Inventory
Beginning balance @ 12/1:
240 units, 10% completed
$17,000 Completed 960 units
and transferred them
to finished goods inventory
$168,000
Direct materials 65,000
Direct labor 41,000
Overhead Property taxes 7,000
Depreciation 38,000
Utilities 22,000
Indirect labor 5,000
Ending balance @ 12/31:
360 units, 20% completed
$27,000
Total equivalent units for conversion under the FIFO method are calculated to be:
34. Landry Co. had the following information for the month of December. All direct materials
were one hundred percent complete, and beginning materials cost $14,000.
Work in Process Inventory
Beginning balance @ 12/1:
240 units, 10% completed
$17,000 Completed 960 units
and transferred them
to finished goods inventory
$168,000
Direct materials 65,000
Direct labor 41,000
Overhead Property taxes 7,000
Depreciation 38,000
Utilities 22,000
Indirect labor 5,000
Ending balance @ 12/31:
360 units, 20% completed
$27,000
Cost per equivalent unit for materials under the FIFO method is calculated to be (rounded):
35. Landry Co. had the following information for the month of December. All direct materials
were one hundred percent complete, and beginning materials cost $14,000.
Work in Process Inventory
Beginning balance @ 12/1:
240 units, 10% completed
$17,000 Completed 960 units
and transferred them
to finished goods inventory
$168,000
Direct materials 65,000
Direct labor 41,000
Overhead Property taxes 7,000
Depreciation 38,000
Utilities 22,000
Indirect labor 5,000
Ending balance @ 12/31:
360 units, 20% completed
$27,000
Cost per equivalent unit for conversion under the FIFO method is calculated to be (rounded):
36. Matrix Inc. calculates cost for an equivalent unit of production using both the weighted-
average and the FIFO methods.
Data for July:
Work-in-process inventory, July 1 (36,000 units):
Direct materials (100% completed) $122,400
Conversion (50% completed) 76,800
Balance in work in process inventory, July 1 $199,200
Units started during July 90,000
Units completed and transferred 102,000
Work-in-process inventory, July 31:
Direct materials (100% completed) 24,000
Conversion (50% completed)
Cost incurred during July:
Direct materials $180,000
Conversion costs 288,000
Total equivalent units for materials under the weighted-average method are calculated to be:
37. Matrix Inc. calculates cost for an equivalent unit of production using both the weighted-
average and the FIFO methods.
Data for July:
Work-in-process inventory, July 1 (36,000 units):
Direct materials (100% completed) $122,400
Conversion (50% completed) 76,800
Balance in work in process inventory, July 1 $199,200
Units started during July 90,000
Units completed and transferred 102,000
Work-in-process inventory, July 31:
Direct materials (100% completed) 24,000
Conversion (50% completed)
Cost incurred during July:
Direct materials $180,000
Conversion costs 288,000
Total equivalent units for conversion under the FIFO method are calculated to be:
38. Matrix Inc. calculates cost for an equivalent unit of production using both the weighted-
average and the FIFO methods.
Data for July:
Work-in-process inventory, July 1 (36,000 units):
Direct materials (100% completed) $122,400
Conversion (50% completed) 76,800
Balance in work in process inventory, July 1 $199,200
Units started during July 90,000
Units completed and transferred 102,000
Work-in-process inventory, July 31:
Direct materials (100% completed) 24,000
Conversion (50% completed)
Cost incurred during July:
Direct materials $180,000
Conversion costs 288,000
Cost per equivalent unit for materials under the weighted-average method is calculated to be:
39. Matrix Inc. calculates cost for an equivalent unit of production using both the weighted-
average and the FIFO methods.
Data for July:
Work-in-process inventory, July 1 (36,000 units):
Direct materials (100% completed) $122,400
Conversion (50% completed) 76,800
Balance in work in process inventory, July 1 $199,200
Units started during July 90,000
Units completed and transferred 102,000
Work-in-process inventory, July 31:
Direct materials (100% completed) 24,000
Conversion (50% completed)
Cost incurred during July:
Direct materials $180,000
Conversion costs 288,000
Cost per equivalent unit for conversion under the FIFO method is calculated to be:
40. Matrix Inc. calculates cost for an equivalent unit of production using both the weighted-
average and the FIFO methods.
Data for July:
Work-in-process inventory, July 1 (36,000 units):
Direct materials (100% completed) $122,400
Conversion (50% completed) 76,800
Balance in work in process inventory, July 1 $199,200
Units started during July 90,000
Units completed and transferred 102,000
Work-in-process inventory, July 31:
Direct materials (100% completed) 24,000
Conversion (50% completed)
Cost incurred during July:
Direct materials $180,000
Conversion costs 288,000
The cost of goods completed and transferred out under the weighted-average method is
calculated to be:
41. The journal entry to record finished product units would include a debit to:
42. The journal entry to record incurred direct labor would include a credit to:
43. Talamoto Co. manufactures a single product that goes through two processes — mixing
and cooking. The following data pertains to the Mixing Department for September.
Work-in-process Inventory Sept. 1 28,000 units
Conversion complete 70%
Work-in-process inventory Sept. 30 16,000 units
Conversion complete 50%
Units started into production in Sept. 72,000
Units completed and transferred out ? units
Costs
Work-in-process inventory Sept.1 $120,000
Material P 110,000
Material Q 165,000
Conversion
Costs added in September
Material P $180,000
Material Q 165,000
Conversion 354,800
Material P is added at the beginning of work in the Mixing Department. Material Q is also added
in the Mixing Department, but not until units of product are forty percent completed with regard
to conversion. Conversion costs are incurred uniformly during the process.
Total equivalent units for Material P under the weighted-average method are calculated to be:
44. Talamoto Co. manufactures a single product that goes through two processes — mixing
and cooking. The following data pertains to the Mixing Department for September.
Work-in-process Inventory Sept. 1 28,000 units
Conversion complete 70%
Work-in-process inventory Sept. 30 16,000 units
Conversion complete 50%
Units started into production in Sept. 72,000
Units completed and transferred out ? units
Costs
Work-in-process inventory Sept.1 $120,000
Material P 110,000
Material Q 165,000
Conversion
Costs added in September
Material P $180,000
Material Q 165,000
Conversion 354,800
Material P is added at the beginning of work in the Mixing Department. Material Q is also added
in the Mixing Department, but not until units of product are forty percent completed with regard
to conversion. Conversion costs are incurred uniformly during the process.
Total equivalent units for Material Q under the weighted-average method are calculated to be:
45. Talamoto Co. manufactures a single product that goes through two processes — mixing
and cooking. The following data pertains to the Mixing Department for September.
Work-in-process Inventory Sept. 1 28,000 units
Conversion complete 70%
Work-in-process inventory Sept. 30 16,000 units
Conversion complete 50%
Units started into production in Sept. 72,000
Units completed and transferred out ? units
Costs
Work-in-process inventory Sept.1 $120,000
Material P 110,000
Material Q 165,000
Conversion
Costs added in September
Material P $180,000
Material Q 165,000
Conversion 354,800
Material P is added at the beginning of work in the Mixing Department. Material Q is also added
in the Mixing Department, but not until units of product are forty percent completed with regard
to conversion. Conversion costs are incurred uniformly during the process.
Total equivalent units for conversion under the weighted-average method are calculated to be:
