Question : 111. The debits to Work in Process–Assembly Department for April, together : 1246755

 

 

111. The debits to Work in Process–Assembly Department for April, together with data concerning production, are as follows: 

April 1, work in process:

 

  Materials cost, 3,000 units

$  7,500

  Conversion costs, 3,000 units,

 

    80% completed

6,000

Materials added during April, 10,000 units

29,000

Conversion costs during April

35,000

Goods finished during April, 11,500 units

—

April 30 work in process, 1,500 units,

 

  60% completed

—

 

 

All direct materials are placed in process at the beginning of the process and the average cost method is used to cost inventories. The materials cost per equivalent unit (to the nearest cent) for April is: A. $2.60B. $2.81C. $3.02D. $2.26

 

112. The debits to Work in Process–Assembly Department for April, together with data concerning production, are as follows: 

April 1, work in process:

 

  Materials cost, 3,000 units

$  7,500

  Conversion costs, 3,000 units,

 

    80% completed

6,000

Materials added during April, 10,000 units

29,000

Conversion costs during April

35,000

Goods finished during April, 11,500 units

—

April 30 work in process, 1,500 units,

 

  60% completed

—

 

 

All direct materials are placed in process at the beginning of the process and the average cost method is used to cost inventories. The conversion cost per equivalent unit (to the nearest cent) for April is: A. $2.70B. $2.53C. $3.31D. $5.60

 

113. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. The number of equivalent units of production for the period for conversion if the average cost method is used to cost inventories was: A. 15,650B. 14,850C. 18,000D. 17,250

 

114. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. The number of equivalent units of production for the period for materials if the average cost method is used to cost inventories was: A. 15,650B. 18,000C. 17,250D. 17,700

 

115. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. If the average cost method is used the material cost per unit (to the nearest cent) would be: A. $2.04B. $1.59C. $1.91D. $2.00

 

116. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. If the average cost method is used the conversion cost per unit (to the nearest cent) would be: A. $3.71B. $2.84C. $2.97D. $3.23

 

117. Company manufactures widgets and they use process costing. The status of their beginning and ending inventory is as follows:

Beg. Inventory

30% of the manufacturing process is complete.

Ending Inventory

55% of the manufacturing process is complete.

 

 

Direct materials are added to the manufacturing process in stages. None are added when production begins. Approximately 1/2 of the materials are added when the product is 25% complete. The other half is added when the product is 50% complete.What % complete are Beginning Inventory and Ending Inventory with respect to Direct materials(DM) and Conversion Costs(CC)?  A. Beg.Inventory DM-50% CC-30%End.Inventory DM-100% CC-55%B. Beg.Inventory DM-50% CC-30%End.Inventory DM-55% CC-55%C. Beg.Inventory DM-30% CC-30%End.Inventory DM-55% CC-55%D. Beg.Inventory DM-50% CC-70%End.Inventory DM-100% CC-45%

 

118. Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July’s activities:

On July 1:

 

Beginning inventories

850 units, 60% complete

Direct materials cost

$5,000

Conversion costs

$4,000

 

 

During July:

 

Number of units started

15,000

Direct materials added

$155,000

Conversion costs added

$83,520

 

 

On July 31:

 

Ending inventories

1,600 units, 40% complete

 

 

Using the FIFO method, the number of units started and completed in July was  A. 14,250B. 15,000C. 13,400D. 15,740

 

119. Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July’s activities:

On July 1:

 

Beginning inventories

850 units, 60% complete

Direct materials cost

$5,000

Conversion costs

$4,000

 

 

During July:

 

Number of units started

15,000

Direct materials added

$155,000

Conversion costs added

$83,520

 

 

On July 31:

 

Ending inventories

1,600 units, 40% complete

 

 

Using the FIFO method, the number of equivalent units of conversion costs was A. 14,400B. 14,380C. 14,550D. 15,850

 

120. Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July’s activities:

On July 1:

 

Beginning inventories

850 units, 60% complete

Direct materials cost

$5,000

Conversion costs

$4,000

 

 

During July:

 

Number of units started

15,000

Direct materials added

$155,000

Conversion costs added

$83,520

 

 

On July 31:

 

Ending inventories

1,600 units, 40% complete

 

 

Using the FIFO method, the cost per equivalent unit for materials used during July was  A. $10.78B. $10.33C. $9.78D. $10.65

121. Using the FIFO method, the cost of goods completed and transferred out during July was (use average cost per unit rounded to four decimal places in computations) A. $227,270 B. $225,060 C. $236,905 D. $228,200