Chapter 04 – Appendix A FIFO Method
46. What are the equivalent units for materials for the month in the first processing
department?
Chapter 04 – Appendix A FIFO Method
47. What are the equivalent units for conversion costs for the month in the first processing
department?
Chapter 04 – Appendix A FIFO Method
48. The cost per equivalent unit for materials for the month in the first processing department
is closest to:
Chapter 04 – Appendix A FIFO Method
49. The cost per equivalent unit for conversion costs for the first department for the month is
closest to:
Chapter 04 – Appendix A FIFO Method
50. The cost of a completed unit transferred out of the department is closest to:
51. The total cost transferred from the first processing department to the next processing
department during the month is closest to:
Chapter 04 – Appendix A FIFO Method
Chapter 04 – Appendix A FIFO Method
52. The cost of ending work in process inventory in the first processing department according
to the company’s cost system is closest to:
Chapter 04 – Appendix A FIFO Method
4A-48
Prasad Corporation uses the FIFO method in its process costing system. Data concerning the
first processing department for the most recent month are listed below:
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.
Chapter 04 – Appendix A FIFO Method
53. What are the equivalent units for materials for the month in the first processing
department?
Chapter 04 – Appendix A FIFO Method
54. The cost per equivalent unit for conversion costs for the first department for the month is
closest to:
55. The total cost transferred from the first processing department to the next processing
department during the month is closest to:
Chapter 04 – Appendix A FIFO Method
Chapter 04 – Appendix A FIFO Method
Qdynamic Corporation uses the FIFO method in its process costing system. Data concerning
the first processing department for the most recent month are listed below:
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.
56. How many units were started AND completed during the month in the first processing
department?
Chapter 04 – Appendix A FIFO Method
57. The cost per equivalent unit for conversion costs for the first department for the month is
closest to:
Chapter 04 – Appendix A FIFO Method
4A-54
Nilgiri Corporation uses the FIFO method in its process costing system. Data concerning the
first processing department for the most recent month are listed below:
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.
Chapter 04 – Appendix A FIFO Method
58. What are the equivalent units for materials for the month in the first processing
department?
Chapter 04 – Appendix A FIFO Method
59. The cost per equivalent unit for conversion costs for the first department for the month is
closest to:
Chapter 04 – Appendix A FIFO Method
4A-57
Osborne Corporation uses the FIFO method in its process costing system. Data concerning
the first processing department for the most recent month are listed below:
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.
Chapter 04 – Appendix A FIFO Method
60. What are the equivalent units for conversion costs for the month in the first processing
department?
Chapter 04 – Appendix A FIFO Method
61. The cost per equivalent unit for materials for the month in the first processing department
is closest to:
Chapter 04 – Appendix A FIFO Method
The information below was obtained from the records of one of the departments of Cushing
Company for the month of August. The company uses the FIFO method in its process costing
system.
All materials are added at the beginning of the process.
62. The equivalent units for materials for the month of August are: