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6. BoChem Company uses the weighted-average method in its process costing system materials are added at the beginning of the process, and The Assembly Department started the month with 500 units in process period, 40% erred 2,500 units to Finished Goods conversion costs are complete. For conversion costs, the total equivalent units of production are Inventory, and had 150 units in process at the end of the A. 2,150 units B. 2,560 units C. 2,650 units D. 2,850 units 7. To compute equivalent units of production, one must be able to reasonably estimate A physical units started B. physical units started and completed. C. equivalent cost of production. D. the percentage of completion. Questions 8 and 9 use the following data, which has been provided by PC Company: PC Company uses the weighted-average method in its process costing system, in which all materials incurred uniformly. The Painting are added at the beginning of the process, and conversion costs are Department started the month with 800 units in process that were 40% complete, transferred 2.5 units to Finished Goods Inventory, and had 500 units in process at the end of the period, 70% complete. The amount of direct materials cost in beginning inventory was $16,320, and the amount of direct materials cost added this period totaled S121,440. The amount of conversion costs in beginning inventory were $12.720, and the amount of conversion costs added this period totaled $131,870. 8. What is the direct material cost per equivalent unit? (Round to the nearest cent.) A. $45.92 per equivalent unit B. $49.00 per equivalent unit C. $50.73 per equivalent unit D. $55.20 per equivalent unit 9. What is the conversion cost per equivalent unit? (Round to the nearest cent. A. $45.92 per equivalent unit B. $49.00 per equivalent unit C. $50.73 per equivalent unit D. $55.20 per equivalent unit 10. The Blue Corporation started and completed 4,800 units during February.Bl with 700 units in process (40% complete); these units were also completed company ended the month with 400 units in process (80% complete), these not completed during the month. How many units were transferred to Fini during February? A. 4,760 B. 5,100 C. 5,460 D. 5,500
Expert Answer
| 6) | Equivalent units | ||||||||
| units | % | Conversion | |||||||
| transferred to finished goods | 2,500 | 100% | 2,500 | ||||||
| ending WIP | 150 | 40% | 60 | ||||||
| Equivalent units | 2,560 | ||||||||
| option B is the answer | |||||||||
| 7) | D) percentage of completion | ||||||||
| 8) | units | % | materials | ||||||
| transferred to finished goods | 2,500 | 100% | 2,500 | ||||||
| ending WIP | 500 | 100% | 500 | ||||||
| Equivalent units | 3,000 | ||||||||
| Cost per Equivalent units | |||||||||
| beginning Work in process | 16,320 | ||||||||
| cost added during the year | 121,440 | ||||||||
| total cost | 137,760 | ||||||||
| Equivalent units | 3000 | ||||||||
| Cost per Equivalent units | 45.92 | ||||||||
| option A $45.92 is the answer | |||||||||
| 9) | units | % | conversion | ||||||
| transferred to finished goods | 2,500 | 100% | 2,500 | ||||||
| ending WIP | 500 | 70% | 350 | ||||||
| Equivalent units | 2,850 | ||||||||
| Cost per Equivalent units | |||||||||
| beginning Work in process | 12,720 | ||||||||
| cost added during the year | 131,870 | ||||||||
| total cost | 144,590 | ||||||||
| Equivalent units | 2,850 | ||||||||
| Cost per Equivalent units | 50.73333 | ||||||||
| option C $50.73 is the answer | |||||||||
| 10) | Beginning WIP | 700 | finished & transferred | 5,100 | |||||
| Started during the year | 4,800 | ending WIP | 400 | ||||||
| units to be accounted | 5500 | units accounted for | 5,500 | ||||||
| option B 5,100 | |||||||||
