Question : Evans Products uses a process costing system with two processing : 1229526

Evans Products uses a process costing system with two processing departments: the Mixing Department and the Finishing Department. In June, unit costs incurred by the Mixing Department amounted to $4.00 per unit. Unit costs transferred to the finished goods warehouse during the month amounted to $22. Work-in-process inventories are reduced to zero each month.

53. The transfer of 35,000 units to the Finishing Department in June required: 
A. A debit to Finished Goods Inventory of $770,000.
B. A credit to Work-in-Process Inventory, Mixing Department of $770,000.
C. A credit to Work-in-Process Inventory, Finishing Department of $140,000.
D. A debit to Work-in-Process Inventory, Finishing Department of $140,000.

54. The entry to record the sale of 3,500 units in June would include: 
A. A debit to Work-in-Process Inventory, of $77,000.
B. A debit to Finished Goods Inventory of $77,000.
C. A debit to Cost of Goods Sold of $77,000.
D. A credit to Cost of Goods Sold of $77,000.

55. If 80% of all inventory was sold at $32 per unit and 3,500 units were sold, what is the cost of the finished goods inventory at year-end? 
A. $16,800.
B. $77,000.
C. $19,250.
D. $96,250.

56. During July, the equivalent full units of direct materials added to the product worked on by Department A amounted to a total of 90,000 applied as follows: beginning inventory, 20,000 units; units started and completed in July, 60,000 units; and ending inventory, 10,000 units. Assuming that the cost of direct materials requisitioned by the department in July was $135,000; the amount of the materials cost to be assigned to the ending inventory would be: 
A. $16,875.
B. $54,000.
C. $15,000.
D. $18,000.

57. The Finishing Department of Berle Industries works on only one product, and all costs are incurred uniformly while these units remain in the department. On March 1, 6,000 units were in process that were 45% completed. An additional 60,000 units were transferred into the Finishing Department during March. At March 31, there were 25,000 units in process that were 75% completed. Compute the equivalent full units of production for the Finishing Department during March using the FIFO method. 
A. 81,450.
B. 60,000.
C. 57,050.
D. 69,550.

58. Department X of a manufacturing company works on only one product, and all costs are incurred uniformly as the product goes along the assembly line. The 8,000 units in process on December 1 were 60% completed. An additional 50,000 units were placed in production during December. At December 31, the 10,000 units in process were 60% completed. The equivalent full units of production during December amounted to: 
A. 49,200.
B. 60,800.
C. 57,200.
D. 58,800.

Aves Treats, Inc. produces bird seeds. All direct materials used in the production process are added at the beginning of the manufacturing process. Labor and overhead are added evenly thereafter, as each unit is mixed and packaged. Aves Treats uses process costing and had the following unit production information available for the months of June and July;
  
The units remaining in work in process at the end of June were 30% complete. During the month of July, all of the beginning work in process units was completed and the units remaining in work in process at the end of the month were 60% complete.

59. For the month of June, the number of equivalent units of direct materials produced was: 
A. 750.
B. 600.
C. 150.
D. Some other amount.

60. For the month of June, the number of equivalent units of labor and overhead produced was: 
A. 750.
B. 600.
C. 645.
D. 595.

61. For the month of July, the number of equivalent units of direct materials produced was: 
A. 700.
B. 800.
C. 900.
D. 950.

62. For the month of July, the number of equivalent units of labor and overhead produced was: 
A. 830.
B. 320.
C. 955.
D. Some other amount.