Question :
81. A company’s beginning work in process inventory consisted of 20,000 : 1225537
81. A company’s beginning work in process inventory consisted of 20,000 units that were 1/5 complete with respect to direct labor. These beginning units were completed and another 90,000 units were started during the current period. Of those started, 60,000 were finished and the remaining 30,000 were 1/3 complete at the end of the period. Using the weighted-average method, the equivalent units of production with regard to direct labor were:
A. 60,000.
B. 74,000.
C. 76,000.
D. 90,000.
E. 96,000.
82. At the beginning of the recent period, there were 900 units of product in a department, one-third completed. These units were finished and an additional 5,000 units were started and completed during the period. 800 units were still in process at the end of the period, one-fourth completed. Using the weighted average method, the equivalent units produced by the department were:
A. 5,000 units.
B. 5,900 units.
C. 6,100 units.
D. 5,500 units.
E. 6,700 units.
83. A company uses the weighted average method for inventory costing. During a period, Department A finished and transferred 50,000 units to Department B. Also, during the period, 10,000 units were started but brought only to a stage of being 3/5 completed. The number of equivalent units produced by Department A during the period was:
A. 44,000 units.
B. 50,000 units.
C. 54,000 units.
D. 56,000 units.
E. 60,000 units.
84. Medina Corp. uses the weighted average method for inventory costs and had the following information available for the year. The number of units transferred to finished goods during the year is:
A. 3,200 units.
B. 3,000 units.
C. 3,400 units.
D. 3,160 units.
E. 3,500 units.
85. Medina Corp. uses the weighted average method for inventory costs and had the following information available for the year. Equivalent units of production for the year are:
A. 3,200 units.
B. 3,320 units.
C. 3,240 units.
D. 3,520 units.
E. 3,800 units.
86. A company uses a process cost accounting system. Its Sewing Department completed and transferred out 120,000 units during the current period. The ending inventory in the Sewing Department consists of 40,000 units (20% complete with respect to direct materials and 60% complete with respect to direct labor). Overhead is applied on the basis of direct labor.
Determine the equivalent units of production for the Sewing Department for direct materials, direct labor and overhead assuming the weighted average method.
A. 120,000; 120,000; 120,000
B. 120,000; 160,000; 120,000
C. 128,000; 120,000; 120,000
D. 128,000; 144,000; 144,000
E. 128,000; 184,000; 160,000
87. A process cost summary is a managerial accounting report that describes:
A. The costs charged to a department.
B. The equivalent units of production by the department.
C. How the costs were assigned to the output.
D. Physical transfers for a department.
E. All of these.
88. Aniston Enterprises manufactures stylish hats for sophisticated women. All materials are introduced at the beginning of the manufacturing process in the Cutting Department. Conversion costs are incurred uniformly throughout the manufacturing process. As the cutting of material is completed, the pieces are immediately transferred to the Sewing Department. Information for the Cutting Department for the month of May follows.
Goods in Process, May 1 (50,000 units, 100% complete for direct materials, 40% complete with respect to direct labor and overhead (conversion costs); includes $70,500 of direct material cost; $34,050 of conversion costs).
Goods in Process, May 31 (75,000 units, 100% complete for direct materials; 20% complete for conversion costs).
If Aniston Enterprises uses the FIFO method of process costing, compute the cost per equivalent unit for direct materials and conversion costs respectively for May.
A. $1.52; $1.81.
B. $1.50; $1.76.
C. $1.83; $1.72.
D. $1.71; $1.81.
E. $3.30; $3.30.
89. Aniston Enterprises manufactures stylish hats for sophisticated women. All materials are introduced at the beginning of the manufacturing process in the Cutting Department. Conversion costs are incurred uniformly throughout the manufacturing process. As the cutting of material is completed, the pieces are immediately transferred to the Sewing Department. Information for the Cutting Department for the month of May follows.
Goods in Process, May 1 (50,000 units, 100% complete for direct materials, 40% complete with respect to direct labor and overhead; includes $70,500 of direct material cost; $34,050 of conversion costs).
Goods in Process, May 31 (75,000 units, 100% complete for direct materials; 20% complete for conversion costs).
If Aniston Enterprises uses the FIFO method of process costing, compute the equivalent units for materials and conversion costs respectively for May.
A. 225,000; 225,000.
B. 200,000; 195,000
C. 275,000; 200,000
D. 225,000; 195,000
E. 200,000; 200,000
90. The following data are available for a company’s manufacturing activities:
If materials are added when the production process begins and direct labor is applied uniformly throughout the process, what are the equivalent units for direct materials and for direct labor, respectively using the FIFO method of process costing?
A. 16,250; 19,250.
B. 16,250; 21,750.
C. 21,000; 19,250.
D. 19,250; 18,750.
E. 21,000; 22,250.
