71. Which costs should be included in the calculation of the cost per equivalent unit using the weighted-average method of process costing? A. Current period costs onlyB. Current period costs plus those from beginning work-in-process inventoryC. Current period costs less those from beginning work-in-process inventoryD. Current period costs less those from ending work-in-process inventory
72. Rollins Manufacturing uses process costing. The following information was available for the current year:
Number of units in beginning work-in-process inventory
4,000
(30% complete)
Number of units started in the current period
35,000
Number of units in ending work-in-process inventory
3,000
(80% complete)
Refer to the Rollins Manufacturing information above. If Rollins uses the first-in, first-out (FIFO) method, how many total equivalent units were completed in the current period? A. 37,200 equivalent unitsB. 35,600 equivalent unitsC. 41,200 equivalent unitsD. 35,400 equivalent units
73. Rollins Manufacturing uses process costing. The following information was available for the current year:
Number of units in beginning work-in-process inventory
4,000
(30% complete)
Number of units started in the current period
35,000
Number of units in ending work-in-process inventory
3,000
(80% complete)
Refer to the Rollins Manufacturing information above. If Rollins uses the weighted-average method, how many total equivalent units were completed in the current period? A. 37,400 equivalent unitsB. 39,000 equivalent unitsC. 38,800 equivalent unitsD. 38,400 equivalent units
74. Peace Products Inc. uses process costing. The following information was available for the current year:
Number of units
Production Costs
Beginning work-in-process (20% complete)
1,000
$ 5,850
Current period production
40,000
604,500
Ending work-in-process (70% complete)
6,000
Refer to the Peace Products Inc information above. If Peace uses the first-in, first-out (FIFO) method of computing equivalent units and assigning product costs, how many total equivalent units were completed in the current period? A. 40,000 equivalent unitsB. 39,000 equivalent unitsC. 36,600 equivalent unitsD. 45,000 equivalent units
75. Peace Products Inc. uses process costing. The following information was available for the current year:
Number of units
Production Costs
Beginning work-in-process (20% complete)
1,000
$ 5,850
Current period production
40,000
604,500
Ending work-in-process (70% complete)
6,000
Refer to the Peace Products Inc information above. If Peace uses the first-in, first-out (FIFO) method of computing equivalent units and assigning product costs, what is the cost per equivalent unit? (round to nearest penny) A. $15.11B. $13.56C. $15.50D. $15.65
76. Peace Products Inc. uses process costing. The following information was available for the current year:
Number of units
Production Costs
Beginning work-in-process (20% complete)
1,000
$ 5,850
Current period production
40,000
604,500
Ending work-in-process (70% complete)
6,000
Refer to the Peace Products Inc information above. If Peace uses the first-in, first-out (FIFO) method of computing equivalent units and assigning product costs, what is the cost of ending work-in-process inventory? A. $65,100B. $65,730C. $93,000D. $93,900
77. Peace Products Inc. uses process costing. The following information was available for the current year:
Number of units
Production Costs
Beginning work-in-process (20% complete)
1,000
$ 5,850
Current period production
40,000
604,500
Ending work-in-process (70% complete)
6,000
Refer to the Peace Products Inc information above. If Peace uses the first-in, first-out (FIFO) method of computing equivalent units and assigning product costs, what is the cost of goods manufactured for the year? A. $517,350B. $539,400C. $544,620D. $545,250
78. Nunez Products Inc. uses process costing. The following information was available for the current year:
Number of units
Production Costs
Beginning work-in-process (20% complete)
400
$ 640
Current period production
20,000
133,760
Ending work-in-process (40% complete)
6,000
Refer to the Nunez Products Inc.information above. If Nunez uses the first-in, first-out (FIFO) method of computing equivalent units and assigning product costs, what is the cost per equivalent unit? (round to nearest penny) A. $5.89B. $8.00C. $8.12D. $8.04
79. Nunez Products Inc. uses process costing. The following information was available for the current year:
Number of units
Production Costs
Beginning work-in-process (20% complete)
400
$ 640
Current period production
20,000
133,760
Ending work-in-process (40% complete)
6,000
Refer to the Nunez Products Inc.information above. If Nunez uses the weighted-average method of computing equivalent units and assigning product costs, what is the cost per equivalent unit? (round to nearest penny) A. $7.43B. $7.47C. $7.96D. $8.00
80. Delaney Products uses process costing. The following information is available for the current year:
Number of units in beginning work-in-process inventory
3,000 (25% complete)
Number of units started in the current period
50,000
Number of units in ending work-in-process inventory
9,000 (10% complete)
If Delaney has already calculated their cost per equivalent unit to be $18 per unit, what would be the cost of the ending work-in-process inventory assuming they use the weighted-average method? A. $ 29,700B. $ 16,200C. $145,800D. $162,000
81. Bost Products Inc. manufactures plastic products and uses process costing to account for the cost of products manufactured. All product costs are added evenly throughout the production process. The following information was available for the plastic department for the month of December:
Number of units
Production Costs
Beginning work-in-process (60% complete)
20,000
$ 72,000
Current period production
300,000
1,809,000
Ending work-in-process (35% complete)
10,000
Refer to the Bost Products Inc. information above. If Bost uses the first-in, first-out (FIFO) method of computing equivalent units and assigning product costs, what is the cost per equivalent unit? (round to nearest penny) A. $6.24B. $5.81C. $6.00D. $5.94
82. Bost Products Inc. manufactures plastic products and uses process costing to account for the cost of products manufactured. All product costs are added evenly throughout the production process. The following information was available for the plastic department for the month of December:
Number of units
Production Costs
Beginning work-in-process (60% complete)
20,000
$ 72,000
Current period production
300,000
1,809,000
Ending work-in-process (35% complete)
10,000
Refer to the Bost Products Inc. information above. If Bost uses the first-in, first-out (FIFO) method of computing equivalent units and assigning product costs, what is the cost of the ending work-in-process inventory for December? A. $39,000B. $21,000C. $20,335D. $20,790
83. Bost Products Inc. manufactures plastic products and uses process costing to account for the cost of products manufactured. All product costs are added evenly throughout the production process. The following information was available for the plastic department for the month of December:
Number of units
Production Costs
Beginning work-in-process (60% complete)
20,000
$ 72,000
Current period production
300,000
1,809,000
Ending work-in-process (35% complete)
10,000
Refer to the Bost Products Inc. information above. If Bost uses the weighted-average method of computing equivalent units and assigning product costs, what is the cost per equivalent unit for December? A. $6.00B. $5.77C. $5.94D. $6.16
84. Bost Products Inc. manufactures plastic products and uses process costing to account for the cost of products manufactured. All product costs are added evenly throughout the production process. The following information was available for the plastic department for the month of December:
Number of units
Production Costs
Beginning work-in-process (60% complete)
20,000
$ 72,000
Current period production
300,000
1,809,000
Ending work-in-process (35% complete)
10,000
Refer to the Bost Products Inc. information above. If Bost uses the weighted-average method of computing equivalent units and assigning product costs, what is the cost of the ending work-in-process inventory in December? A. $57,700B. $20,195C. $22,435D. $21,000
85. Bost Products Inc. manufactures plastic products and uses process costing to account for the cost of products manufactured. All product costs are added evenly throughout the production process. The following information was available for the plastic department for the month of December:
Number of units
Production Costs
Beginning work-in-process (60% complete)
20,000
$ 72,000
Current period production
300,000
1,809,000
Ending work-in-process (35% complete)
10,000
Refer to the Bost Products Inc. information above. If Bost uses the weighted-average method of computing equivalent units and assigning product costs, what is the cost of goods manufactured in December? A. $1,860,805B. $1,860,000C. $1,877,500D. $1,858,565
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