Question :
71. The following production data were taken from the records of : 1233791
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
58,000 units
Ending inventory (60% complete)
3,000 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. 58,600 unitsB. 57,000 unitsC. 62,600 unitsD. 57,000 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
58,000 units
Ending inventory (60% complete)
3,000 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. 61,000 unitsB. 57,000 unitsC. 59,800 unitsD. 59,200 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 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 2,000 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 first-in, first-out method is used to cost inventories was: A. 15,650B. 14,850C. 18,500D. 15,300
76. Department B had 3,000 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 2,000 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 first-in, first-out method is used to cost inventories was: A. 15,000B. 17,800C. 16,000D. 14,000
77. The following unit data were assembled for the assembly process of the Fine 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 Fine 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. Frank 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. Frank 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 40 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
