Question : 71. The following production data were taken from the records of : 1246778

 

 

71. The following production data were taken from the records of the Finishing Department for June: 

 Inventory in process, 6-1 ( 30% completed)

4,000 units

Completed units during June

71,000 units

Ending inventory (60% complete)

7,000 units

 

 

Determine the number of conversion equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories. A. 74,000 unitsB. 72,400 unitsC. 71,200 unitsD. 4,200 units

 

72. The following production data were taken from the records of the Finishing Department for June: 

 Inventory in process, 6-1 ( 30% completed)

4,000 units

Completed units during June

71,000 units

Ending inventory (60% complete)

7,000 units

 

 

Determine the number of material equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories and materials were added at the beginning of the process. A. 6,700 unitsB. 74,000 unitsC. 78,000 unitsD. 82,000 units

 

73. 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

$  7,200

  Conversion costs, 3,000 units,

 

   60% completed

6,000

Materials added during April, 10,000 units

25,000

Conversion costs during April

35,750

Goods finished during April, 12,000 units

—

April 30 work in process, 1,000 units,

 

  40% completed

—

 

 

All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for April is: A. $2.48B. $2.08C. $2.50D. $5.25

 

74. 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

$  7,200

  Conversion costs, 3,000 units,

 

   40% completed

6,000

Materials added during April, 10,000 units

25,000

Conversion costs during April

30,800

Goods finished during April, 12,000 units

—

April 30 work in process, 1,000 units,

 

  40% completed

—

 

 

All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The conversion cost per equivalent unit for April is: A. $2.48B. $2.75C. $2.50D. $5.25

 

75. Department B had 3,000 units in Work in Process that were 25% completed at the beginning of the period at a cost of $12,500. 13,700 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 1,700 units were 95% 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 first-in, first-out method is used to cost inventories was: A. 14,365B. 13,615C. 12,000D. 15,865

 

76. Department B had 3,000 units in Work in Process that were 25% completed at the beginning of the period at a cost of $12,500. 13,700 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 1,700 units were 95% 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 first-in, first-out method is used to cost inventories was: A. 16,700B. 12,000C. 1,700D. 13,700

 

77. The following unit data were assembled for the assembly process of the Super Co. for the month of June. Direct materials are added at the beginning of the process. Conversion costs are added uniformly over the production process. The company uses the FIFO process. 

 

 

Units

Beginning work in process

 

5,000

 

(60% complete)

 

Units started in September

 

51,000

Ending work in process

 

4,000

 

(30% complete)

 

 

 

 

 

The number of equivalent units produced with respect to conversion costs is: A. 54,200B. 55,200C. 54,200D. 50,200

 

78. The following unit data were assembled for the assembly process of the Super Co. for the month of June. Direct materials are added at the beginning of the process. Conversion costs are added uniformly over the production process. The company uses the FIFO process. 

 

 

Units

Beginning work in process

 

5,000

 

(60% complete)

 

Units started in September

 

51,000

Ending work in process

 

4,000

 

(30% complete)

 

 

 

 

 

The number of equivalent units produced with respect to direct materials costs is: A. 51,000B. 50,000C. 47,000D. 56,000

 

79. Carmelita Inc., has the following information available: 

 

Costs from

Costs from

 

Beginning Inventory

Current Period

 

 

 

Direct materials

$2,500

$22,252

Conversion Costs

  6,200

150,536

 

 

 

At the beginning of the period, there were 500 units in process that were 60 percent complete as to conversion costs and 100 percent complete as to direct materials costs. During the period 4,500 units were started and completed. Ending inventory contained 340 units that were 30 percent complete as to conversion costs and 100 percent complete as to materials costs. (Assume that the company uses the FIFO process cost method.)The equivalent units of production for direct materials and conversion costs, respectively, were A. 5,340 for direct materials and 4,902 for conversion costs.B. 4,840 for direct materials and 4,802 for conversion costs.C. 4,602 for direct materials and 4,802 for conversion costs.D. 4,902 for direct materials and 4,802 for conversion costs.

 

80. Carmelita Inc., has the following information available: 

 

Costs from

Costs from

 

Beginning Inventory

Current Period

 

 

 

Direct materials

$2,500

$22,252

Conversion Costs

  6,200

150,536

 

 

 

At the beginning of the period, there were 500 units in process that were 60 percent complete as to conversion costs and 100 percent complete as to direct materials costs. During the period 4,500 units were started and completed. Ending inventory contained 340 units that were 30 percent complete as to conversion costs and 100 percent complete as to materials costs. (Assume that the company uses the FIFO process cost method.)The cost of completing a unit during the current period was A. $36.19B. $34.88C. $35.95D. $35.89