Deck 9: Fifo Method

Question 1

In November,one of the processing departments at Rullo Corporation had beginning work in process inventory of $23,000 and ending work in process inventory of $32,000.During the month,$267,000 of costs were added to production and the cost of units transferred out from the department was $258,000.The company uses the FIFO method in its process costing system.In the department's cost reconciliation report for November,the total cost to be accounted for would be:

A)$580,000
B)$557,000
C)$290,000
D)$55,000

Answer 1

$290,000

Question 2

Winkle Company uses the FIFO method in its process costing system.At the beginning of March,the work in process inventory in the Blending Processing Center consisted of 5,000 units,90% complete with respect to conversion costs.At the end of the month,the work in process inventory consisted of 2,000 units that were 60% complete with respect to conversion costs.If 10,000 units were transferred to the next processing center during the month,the equivalent units for conversion costs were:

A)6,700 units
B)11,700 units
C)10,300 units
D)13,000 units

Answer 2

A

Question 3

When comparing the two process costing methods for the same company,equivalent units computed under the FIFO method will always be less than or equal to equivalent units computed under the weighted-average method.

Answer 3

True

Question 4

Malaviya Corporation uses the FIFO method in its process costing system.Operating data for the Casting Department for the month of September appear below: $\begin{array}{lrc}&&\text { Percent Complete with}\\&\text { Units }&\text { Respect to Conversion}\\\text { Beginning work in process inventory.... } & 17,000 & 40 \% \\\text { Transferred in from the prior department } & & \\\text { during September....................... } & 72,000 \\\text { Ending work in process inventory ......... } & 18,000 & 30 \%\end{array}$ According to the company's records,the conversion cost in beginning work in process inventory was $63,104 at the beginning of September.Additional conversion costs of $654,240 were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for September? (Round off to three decimal places. )

A)$8.060
B)$9.280
C)$9.087
D)$9.400

Question 5

The cost per equivalent unit for conversion costs will always be the same under both the FIFO and the weighted-average methods if there is no beginning work in process inventory.

Question 6

Galli Corporation uses the FIFO method in its process costing system.The Grinding Department started the month with 10,000 units in its beginning work in process inventory that were 30% complete with respect to conversion costs.An additional 73,000 units were transferred in from the prior department during the month to begin processing in the Grinding Department.During the month 66,000 units were completed in the Grinding Department and transferred to the next processing department.There were 17,000 units in the ending work in process inventory of the Grinding Department that were 40% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Grinding Department for the month?

A)69,800
B)80,000
C)72,800
D)66,000

Question 7

Ozdemir Company uses the FIFO method in its process costing system.Operating data for the Brazing Department for the month of November appear below: $\begin{array}{lrc}&&\text { Percent Complete with}\\&\text { Units }&\text { Respect to Conversion}\\\text { Beginning work in process inventory.... } &2,600 & 90 \% \\\text { Transferred in from the prior department } & & \\\text { during November....................... } & 56,800 \\\text { Completed and transferred to the next}\\\text { department during November}&57,500\\\text { Ending work in process inventory ......... } & 1,900& 80 \%\end{array}$
What were the equivalent units for conversion costs in the Brazing Department for November?

A)57,500
B)56,680
C)56,100
D)59,020

Question 8

Kets Corporation uses the FIFO method in its process costing system.Operating data for the Enameling Department for the month of May appear below: $\begin{array}{lrc}&&\text { Percent Complete with}\\&\text { Units }&\text { Respect to Conversion}\\\text { Beginning work in process inventory.... } & 6,100 & 10 \% \\\text { Transferred in from the prior department } & & \\\text { during May....................... } & 82,500 \\\text { Ending work in process inventory ......... } & 8,000 & 40 \%\end{array}$
What were the equivalent units for conversion costs in the Enameling Department for May?

A)83,190
B)80,600
C)83,800
D)84,400

Question 9

All production costs have been steadily rising in the Donner Company for several periods.The company maintains large work in process inventories.Donner Company's cost per equivalent unit computed using the FIFO method would be:

A)the same as that computed under the weighted-average method.
B)higher than that computed under the weighted-average method.
C)lower than that computed under the weighted-average method.
D)could be lower than,the same as,or higher than that computed under the weighted-average method.

Question 10

In the cost reconciliation report,the costs accounted for equals the cost of ending work in process inventory plus the costs added during the period.

Question 11

Roger Company uses the FIFO method in its process costing system.The following data are taken from the accounting records of a particular department for June: $\begin{array}{llcc} \text { Beginning work in process inventory: } &\\ \text { Cost......................................................} &\$17,500\\ \text { Units.....................................................} &20,000& \text { units}\\ \text { Percentage completion: } &\\ \text { Materials.............................................. } &100\%\\ \text { Conversion.......................................... } &60\%\\ \text { Units completed and transferred out.... } &75,000& \text { units}\\ \text { Cost per equivalent unit: } &\\ \text { Material.............................................. } &\$1.75\\ \text { Conversion......................................... } &\$0.50\\\end{array}$ The cost of the 75,000 units transferred out of the department during June is:

A)$151,250
B)$145,250
C)$131,500
D)$168,750

Question 12

Freisn Corporation uses the FIFO method in its process costing system.Department A is the first processing department the company's production process.The following information pertains to conversion costs in June for that department: $\begin{array}{llcc}& \text {Units }\\ \text { Work in process, beginning ( \( 40 \% \) complete)..................... } &20,000\\ \text { Started in June.................................................................} &160,000\\ \text { Completed in June and transferred to the next processing } &\\ \text { department...................................................................... } &170,000\\ \text {Work in process, ending ( \( 60 \% \) complete)......................... } &10,000\\\end{array}$
The equivalent units for conversion costs are:

A)160,000
B)168,000
C)180,000
D)176,000

Question 13

Ismail Corporation uses the FIFO method in its process costing system.The first processing department,the Forming Department,started the month with 21,000 units in its beginning work in process inventory that were 10% complete with respect to conversion costs.The conversion cost in this beginning work in process inventory was $6,090.An additional 98,000 units were started into production during the month and 95,000 units were completed and transferred to the next processing department.There were 24,000 units in the ending work in process inventory of the Forming Department that were 30% complete with respect to conversion costs.A total of $269,269 in conversion costs were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places. )

A)$2.900
B)$2.748
C)$2.690
D)$2.314

Question 14

Under the FIFO process costing method,the equivalent units of production relate only to work done during the current period.

Question 15

Quill Corporation uses the FIFO method in its process costing system.Operating data for the Cutting Department for the month of March appear below: $\begin{array}{lrc}&&\text { Percent Complete with}\\&\text { Units }&\text { Respect to Conversion}\\\text { Beginning work in process inventory.... } & 6,500 & 10 \% \\\text { Transferred in from the prior department } & & \\\text { during March....................... } & 50,000 \\\text { Completed and transferred to the next}\\\text { department during March}&54,500\\\text { Ending work in process inventory ......... } & 2,00& 80 \%\end{array}$ According to the company's records,the conversion cost in beginning work in process inventory was $5,018 at the beginning of March.Additional conversion costs of $420,644 were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for March? (Round off to three decimal places. )

A)$8.413
B)$7.586
C)$7.534
D)$7.720

Question 16

Capul Company uses the FIFO method in its process costing system.The Assembly Department started the month with 5,000 units in its beginning work in process inventory that were 50% complete with respect to conversion costs.An additional 74,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department.There were 15,000 units in the ending work in process inventory of the Assembly Department that were 60% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Assembly Department for the month?

A)84,000
B)70,500
C)73,000
D)64,000

Question 17

The cost per equivalent unit under the FIFO method of process costing is equal to the cost of beginning work in process inventory plus the costs added during the period,all divided by the equivalent units of production for the period.

Question 18

Mukluk Company uses the FIFO method in its process costing system.The conversion cost for the month of April is $5.00 per equivalent unit and the material cost is $2.90 per equivalent unit.At the beginning of the month,1,000 units were in process that were 100% complete with respect to materials and 30% complete with respect to conversion,with a total cost at that point of $2,400.If these units are fully complete by the end of the month,their total cost will be:

A)$3,500
B)$3,900
C)$5,900
D)$8,000

Question 19

Tenicheff Corporation uses the FIFO method in its process costing system.Operating data for the Curing Department for the month of March appear below: $\begin{array}{lrc}&&\text { Percent Complete with}\\&\text { Units }&\text { Respect to Conversion}\\\text { Beginning work in process inventory.... } & 8,200 & 50 \% \\\text { Transferred in from the prior department } & & \\\text { during March...................................... } & 49,000 \\\text { Completed and transferred to the next}\\\text { department during March.....................}&56,200\\\text { Ending work in process inventory ......... } & 1,000& 40 \%\end{array}$
According to the company's records,the conversion cost in beginning work in process inventory was $10,250 at the beginning of March.The cost per equivalent unit for conversion costs for March was $2.40. How much conversion cost would be assigned to the units completed and transferred out of the department during March?

A)$134,880
B)$117,600
C)$135,290
D)$125,040

Question 20

Edward Company uses the FIFO method in its process costing system.The first processing department,the Welding Department,started the month with 10,000 units in its beginning work in process inventory that were 40% complete with respect to conversion costs.The conversion cost in this beginning work in process inventory was $12,800.An additional 94,000 units were started into production during the month.There were 14,000 units in the ending work in process inventory of the Welding Department that were 80% complete with respect to conversion costs.A total of $286,740 in conversion costs were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs? (Round off to three decimal places. )

A)$2.880
B)$3.200
C)$2.950
D)$3.050

Question 21

Kimbeth Manufacturing makes Dust Density Sensors (DDS),a safety device for the mining industry.The company uses a process costing system and has only a single processing department.The following information pertains to operations for the month of May: $\begin{array}{lr}&\text { Units }\\\text { Beginning work in process inventory } . . \ldots \ldots . & 16,000 \\\text { Started into production during May ......... } & 100,000 \\\text { Completed during May } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 92,000 \\\text { Ending work in process inventory } \ldots \ldots \ldots \ldots \ldots . & 24,000\end{array}$ The beginning work in process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs.The ending work in process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs.The costs were as follows: $\begin{array} { l r r } & \text { Materials } & \text { Conversion } \\\text { Beginning work in process inventory ....... } & \$ 54,560 & \$ 35,560 \\\text { Costs incurred during May................. } & \$ 468,000 & \$ 574,040\end{array}$

-Using the FIFO method,the total cost of units in the ending work in process inventory is closest to:

A)$153,200
B)$154,800
C)$155,300
D)$157,000

Question 22

Moulgadi Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text {Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory.............. } &700\\ \text { Materials costs............................................................ } &\$10,900\\ \text { Conversion costs........................................................ } &\$4,600\\ \text { Percent complete with respect to materials................ } &65\%\\ \text {Percent complete with respect to conversion............... } &15\%\\ \text { Units started into production during the month......... } &9,700\\ \text {Units transferred to the next department during the } &\\ \text {month........................................................................ } &8,800\\ \text {Materials costs added during the month.................... } &\$204,900\\ \text {Conversion costs added during the month................ } &\$362,600\\ \text { Ending work in process inventory: } &\\ \text {Units in ending work in process inventory................ } &1,600\\ \text {Percent complete with respect to materials.............. } &65\%\\ \text {Percent complete with respect to conversion............ } &55\%\\\end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-The cost of a completed unit transferred out of the department is closest to:

A)$63.28
B)$59.70
C)$56.06
D)$71.98

Question 23

Kimbeth Manufacturing makes Dust Density Sensors (DDS),a safety device for the mining industry.The company uses a process costing system and has only a single processing department.The following information pertains to operations for the month of May: $\begin{array}{lr}&\text { Units }\\\text { Beginning work in process inventory } . . \ldots \ldots . & 16,000 \\\text { Started into production during May ......... } & 100,000 \\\text { Completed during May } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 92,000 \\\text { Ending work in process inventory } \ldots \ldots \ldots \ldots \ldots . & 24,000\end{array}$ The beginning work in process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs.The ending work in process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs.The costs were as follows: $\begin{array} { l r r } & \text { Materials } & \text { Conversion } \\\text { Beginning work in process inventory ....... } & \$ 54,560 & \$ 35,560 \\\text { Costs incurred during May................. } & \$ 468,000 & \$ 574,040\end{array}$

-Using the FIFO method,the equivalent units for May for conversion costs are:

A)85,600 units
B)88,800 units
C)95,200 units
D)98,400 units

Question 24

Moulgadi Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text {Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory.............. } &700\\ \text { Materials costs............................................................ } &\$10,900\\ \text { Conversion costs........................................................ } &\$4,600\\ \text { Percent complete with respect to materials................ } &65\%\\ \text {Percent complete with respect to conversion............... } &15\%\\ \text { Units started into production during the month......... } &9,700\\ \text {Units transferred to the next department during the } &\\ \text {month........................................................................ } &8,800\\ \text {Materials costs added during the month.................... } &\$204,900\\ \text {Conversion costs added during the month................ } &\$362,600\\ \text { Ending work in process inventory: } &\\ \text {Units in ending work in process inventory................ } &1,600\\ \text {Percent complete with respect to materials.............. } &65\%\\ \text {Percent complete with respect to conversion............ } &55\%\\\end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-The cost per equivalent unit for conversion costs for the first department for the month is closest to:

A)$37.87
B)$39.76
C)$43.81
D)$41.20

Question 25

Details of the manufacturing activity in Amy Company's Assembly Department for the month of December are given below: $\begin{array}{lcc}& \text {Number}& \text { Labor and Overhead }\\& \text {of Units }& \text {Percent Complete}\\\text { Work in process inventory, Dec.1.................. } & 10,000 & 70 \% \\\text { Started in assembly during the month........... } & 80,000 & \\\text { Work in process inventory, Dec.31................ }& 15,000 & 40 \%\end{array}$
All materials are added at the beginning of processing in the Assembly Department.

-The equivalent units for labor and overhead for the month,using the FIFO method,is:

A)90,000
B)70,000
C)80,000
D)74,000

Question 26

Kimbeth Manufacturing makes Dust Density Sensors (DDS),a safety device for the mining industry.The company uses a process costing system and has only a single processing department.The following information pertains to operations for the month of May: $\begin{array}{lr}&\text { Units }\\\text { Beginning work in process inventory } . . \ldots \ldots . & 16,000 \\\text { Started into production during May ......... } & 100,000 \\\text { Completed during May } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 92,000 \\\text { Ending work in process inventory } \ldots \ldots \ldots \ldots \ldots . & 24,000\end{array}$ The beginning work in process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs.The ending work in process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs.The costs were as follows: $\begin{array} { l r r } & \text { Materials } & \text { Conversion } \\\text { Beginning work in process inventory ....... } & \$ 54,560 & \$ 35,560 \\\text { Costs incurred during May................. } & \$ 468,000 & \$ 574,040\end{array}$

-Using the weighted-average method,the cost per equivalent unit of materials for May is closest to:

A)$4.12
B)$4.50
C)$4.60
D)$5.03

Question 27

Kimbeth Manufacturing makes Dust Density Sensors (DDS),a safety device for the mining industry.The company uses a process costing system and has only a single processing department.The following information pertains to operations for the month of May: $\begin{array}{lr}&\text { Units }\\\text { Beginning work in process inventory } . . \ldots \ldots . & 16,000 \\\text { Started into production during May ......... } & 100,000 \\\text { Completed during May } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 92,000 \\\text { Ending work in process inventory } \ldots \ldots \ldots \ldots \ldots . & 24,000\end{array}$ The beginning work in process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs.The ending work in process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs.The costs were as follows: $\begin{array} { l r r } & \text { Materials } & \text { Conversion } \\\text { Beginning work in process inventory ....... } & \$ 54,560 & \$ 35,560 \\\text { Costs incurred during May................. } & \$ 468,000 & \$ 574,040\end{array}$

-Assuming that Cherrington Company uses the weighted-average method,what is the cost per equivalent unit for conversion costs for May to the nearest whole cent?

A)$4.19
B)$4.00
C)$3.64
D)$3.83

Question 28

Kimbeth Manufacturing makes Dust Density Sensors (DDS),a safety device for the mining industry.The company uses a process costing system and has only a single processing department.The following information pertains to operations for the month of May: $\begin{array}{lr}&\text { Units }\\\text { Beginning work in process inventory } . . \ldots \ldots . & 16,000 \\\text { Started into production during May ......... } & 100,000 \\\text { Completed during May } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 92,000 \\\text { Ending work in process inventory } \ldots \ldots \ldots \ldots \ldots . & 24,000\end{array}$ The beginning work in process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs.The ending work in process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs.The costs were as follows: $\begin{array} { l r r } & \text { Materials } & \text { Conversion } \\\text { Beginning work in process inventory ....... } & \$ 54,560 & \$ 35,560 \\\text { Costs incurred during May................. } & \$ 468,000 & \$ 574,040\end{array}$

-Assuming that Cherrington Company uses the FIFO method,what is the cost per equivalent unit for conversion costs for May to the nearest cent?

A)$4.31
B)$3.49
C)$4.29
D)$4.11

Question 29

In September,one of the processing departments at Becka Corporation had ending work in process inventory of $23,000.During the month,$362,000 of costs were added to production and the cost of units transferred out from the department was $372,000.The company uses the FIFO method in its process costing system.In the department's cost reconciliation report for September,the total cost accounted for would be:

A)$56,000
B)$395,000
C)$790,000
D)$757,000

Question 30

Kimbeth Manufacturing makes Dust Density Sensors (DDS),a safety device for the mining industry.The company uses a process costing system and has only a single processing department.The following information pertains to operations for the month of May: $\begin{array}{lr}&\text { Units }\\\text { Beginning work in process inventory } . . \ldots \ldots . & 16,000 \\\text { Started into production during May ......... } & 100,000 \\\text { Completed during May } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 92,000 \\\text { Ending work in process inventory } \ldots \ldots \ldots \ldots \ldots . & 24,000\end{array}$ The beginning work in process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs.The ending work in process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs.The costs were as follows: $\begin{array} { l r r } & \text { Materials } & \text { Conversion } \\\text { Beginning work in process inventory ....... } & \$ 54,560 & \$ 35,560 \\\text { Costs incurred during May................. } & \$ 468,000 & \$ 574,040\end{array}$

-Using the FIFO method,the cost per equivalent unit of conversion cost for May is closest to:

A)$5.65
B)$5.83
C)$6.00
D)$6.20

Question 31

Details of the manufacturing activity in Amy Company's Assembly Department for the month of December are given below: $\begin{array}{lcc}& \text {Number}& \text { Labor and Overhead }\\& \text {of Units }& \text {Percent Complete}\\\text { Work in process inventory, Dec.1.................. } & 10,000 & 70 \% \\\text { Started in assembly during the month........... } & 80,000 & \\\text { Work in process inventory, Dec.31................ }& 15,000 & 40 \%\end{array}$
All materials are added at the beginning of processing in the Assembly Department.

-The equivalent units for material for the month,using the FIFO method,is:

A)80,000
B)70,000
C)74,000
D)90,000

Question 32

Moulgadi Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text {Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory.............. } &700\\ \text { Materials costs............................................................ } &\$10,900\\ \text { Conversion costs........................................................ } &\$4,600\\ \text { Percent complete with respect to materials................ } &65\%\\ \text {Percent complete with respect to conversion............... } &15\%\\ \text { Units started into production during the month......... } &9,700\\ \text {Units transferred to the next department during the } &\\ \text {month........................................................................ } &8,800\\ \text {Materials costs added during the month.................... } &\$204,900\\ \text {Conversion costs added during the month................ } &\$362,600\\ \text { Ending work in process inventory: } &\\ \text {Units in ending work in process inventory................ } &1,600\\ \text {Percent complete with respect to materials.............. } &65\%\\ \text {Percent complete with respect to conversion............ } &55\%\\\end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-What are the equivalent units for conversion costs for the month in the first processing department?

A)880
B)10,400
C)9,575
D)8,100

Question 33

Moulgadi Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text {Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory.............. } &700\\ \text { Materials costs............................................................ } &\$10,900\\ \text { Conversion costs........................................................ } &\$4,600\\ \text { Percent complete with respect to materials................ } &65\%\\ \text {Percent complete with respect to conversion............... } &15\%\\ \text { Units started into production during the month......... } &9,700\\ \text {Units transferred to the next department during the } &\\ \text {month........................................................................ } &8,800\\ \text {Materials costs added during the month.................... } &\$204,900\\ \text {Conversion costs added during the month................ } &\$362,600\\ \text { Ending work in process inventory: } &\\ \text {Units in ending work in process inventory................ } &1,600\\ \text {Percent complete with respect to materials.............. } &65\%\\ \text {Percent complete with respect to conversion............ } &55\%\\\end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-The cost per equivalent unit for materials for the month in the first processing department is closest to:

A)$23.28
B)$21.83
C)$23.96
D)$19.70

Question 34

Moulgadi Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text {Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory.............. } &700\\ \text { Materials costs............................................................ } &\$10,900\\ \text { Conversion costs........................................................ } &\$4,600\\ \text { Percent complete with respect to materials................ } &65\%\\ \text {Percent complete with respect to conversion............... } &15\%\\ \text { Units started into production during the month......... } &9,700\\ \text {Units transferred to the next department during the } &\\ \text {month........................................................................ } &8,800\\ \text {Materials costs added during the month.................... } &\$204,900\\ \text {Conversion costs added during the month................ } &\$362,600\\ \text { Ending work in process inventory: } &\\ \text {Units in ending work in process inventory................ } &1,600\\ \text {Percent complete with respect to materials.............. } &65\%\\ \text {Percent complete with respect to conversion............ } &55\%\\\end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-What are the equivalent units for materials for the month in the first processing department?

A)1,040
B)9,385
C)10,400
D)8,100

Question 35

Details of the manufacturing activity in Amy Company's Assembly Department for the month of December are given below: $\begin{array}{lcc}& \text {Number}& \text { Labor and Overhead }\\& \text {of Units }& \text {Percent Complete}\\\text { Work in process inventory, Dec.1.................. } & 10,000 & 70 \% \\\text { Started in assembly during the month........... } & 80,000 & \\\text { Work in process inventory, Dec.31................ }& 15,000 & 40 \%\end{array}$
All materials are added at the beginning of processing in the Assembly Department.

-The equivalent units for material for the month,using the weighted-average method,is:

A)81,000
B)90,000
C)70,000
D)80,000

Question 36

Kimbeth Manufacturing makes Dust Density Sensors (DDS),a safety device for the mining industry.The company uses a process costing system and has only a single processing department.The following information pertains to operations for the month of May: $\begin{array}{lr}&\text { Units }\\\text { Beginning work in process inventory } . . \ldots \ldots . & 16,000 \\\text { Started into production during May ......... } & 100,000 \\\text { Completed during May } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 92,000 \\\text { Ending work in process inventory } \ldots \ldots \ldots \ldots \ldots . & 24,000\end{array}$ The beginning work in process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs.The ending work in process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs.The costs were as follows: $\begin{array} { l r r } & \text { Materials } & \text { Conversion } \\\text { Beginning work in process inventory ....... } & \$ 54,560 & \$ 35,560 \\\text { Costs incurred during May................. } & \$ 468,000 & \$ 574,040\end{array}$

-Using the FIFO method,the cost per equivalent unit of materials for May is closest to:

A)$4.12
B)$4.50
C)$4.60
D)$4.80

Question 37

Details of the manufacturing activity in Amy Company's Assembly Department for the month of December are given below: $\begin{array}{lcc}& \text {Number}& \text { Labor and Overhead }\\& \text {of Units }& \text {Percent Complete}\\\text { Work in process inventory, Dec.1.................. } & 10,000 & 70 \% \\\text { Started in assembly during the month........... } & 80,000 & \\\text { Work in process inventory, Dec.31................ }& 15,000 & 40 \%\end{array}$
All materials are added at the beginning of processing in the Assembly Department.

-The equivalent units for labor and overhead for the month,using the weighted-average method,is:

A)162,000
B)80,000
C)81,000
D)74,000

Question 38

Kimbeth Manufacturing makes Dust Density Sensors (DDS),a safety device for the mining industry.The company uses a process costing system and has only a single processing department.The following information pertains to operations for the month of May: $\begin{array}{lr}&\text { Units }\\\text { Beginning work in process inventory } . . \ldots \ldots . & 16,000 \\\text { Started into production during May ......... } & 100,000 \\\text { Completed during May } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 92,000 \\\text { Ending work in process inventory } \ldots \ldots \ldots \ldots \ldots . & 24,000\end{array}$ The beginning work in process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs.The ending work in process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs.The costs were as follows: $\begin{array} { l r r } & \text { Materials } & \text { Conversion } \\\text { Beginning work in process inventory ....... } & \$ 54,560 & \$ 35,560 \\\text { Costs incurred during May................. } & \$ 468,000 & \$ 574,040\end{array}$

-Using the weighted-average method,the total cost of the units in ending work in process inventory is closest to:

A)$156,960
B)$86,400
C)$153,960
D)$154,800

Question 39

Kimbeth Manufacturing makes Dust Density Sensors (DDS),a safety device for the mining industry.The company uses a process costing system and has only a single processing department.The following information pertains to operations for the month of May: $\begin{array}{lr}&\text { Units }\\\text { Beginning work in process inventory } . . \ldots \ldots . & 16,000 \\\text { Started into production during May ......... } & 100,000 \\\text { Completed during May } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 92,000 \\\text { Ending work in process inventory } \ldots \ldots \ldots \ldots \ldots . & 24,000\end{array}$ The beginning work in process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs.The ending work in process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs.The costs were as follows: $\begin{array} { l r r } & \text { Materials } & \text { Conversion } \\\text { Beginning work in process inventory ....... } & \$ 54,560 & \$ 35,560 \\\text { Costs incurred during May................. } & \$ 468,000 & \$ 574,040\end{array}$

-Using the weighted-average method,the cost per equivalent unit of conversion cost for May is closest to:

A)$5.65
B)$5.83
C)$6.00
D)$6.41

Question 40

Kimbeth Manufacturing makes Dust Density Sensors (DDS),a safety device for the mining industry.The company uses a process costing system and has only a single processing department.The following information pertains to operations for the month of May: $\begin{array}{lr}&\text { Units }\\\text { Beginning work in process inventory } . . \ldots \ldots . & 16,000 \\\text { Started into production during May ......... } & 100,000 \\\text { Completed during May } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 92,000 \\\text { Ending work in process inventory } \ldots \ldots \ldots \ldots \ldots . & 24,000\end{array}$ The beginning work in process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs.The ending work in process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs.The costs were as follows: $\begin{array} { l r r } & \text { Materials } & \text { Conversion } \\\text { Beginning work in process inventory ....... } & \$ 54,560 & \$ 35,560 \\\text { Costs incurred during May................. } & \$ 468,000 & \$ 574,040\end{array}$

-Using the FIFO method,the equivalent units for May for materials are:

A)82,400 units
B)104,000 units
C)107,200 units
D)108,000 units

Question 41

The following information relates to the Mixing Department of Zaglav Products Company for the month of June.Zaglav uses a FIFO process costing system. $\text {Work in process, beginning (June 1):}$
$\begin{array}{llcc} \text {Units in process........................................................... } &8,000\\ \text { Percent complete with respect to materials................. } &100\%\\ \text { Percent complete with respect to conversion............... } &75\%\\ \text {Units completed and transferred out during June........ } &84,000\\\end{array}$


$\text {Work in process, ending (June 30):}$
$\begin{array}{llcc} \text {Units in process................................................. } &3,000\\ \text { Percent complete with respect to materials......} &100\%\\ \text { Percent complete with respect to conversion.... } &10\%\\\end{array}$

-What are the Mixing Department's equivalent units related to conversion costs for June?

A)78,300
B)81,300
C)82,300
D)84,700

Question 42

Noda Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text { Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory..............} &300\\ \text { Materials costs........................................................... } &\$3,000\\ \text { Conversion costs........................................................ } &\$5,500\\ \text { Percent complete with respect to materials................ } &85\%\\ \text { Percent complete with respect to conversion..............} &60\%\\ \text { Units started into production during the....................} &6,900\\ \text { Units transferred to the next department during the } &\\ \text { month....................................................................... } &3,600\\ \text {Materials costs added during the month.................... } &\$70,400\\ \text {Conversion costs added during the month................. } &\$179,200\\ \text { Ending work in process inventory: } &\\\text { Units in ending work in process inventory................ } &900\\ \text { Percent complete with respect to materials.............. } &70\%\\ \text { Percent complete with respect to conversion............ } &55\%\\ \end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-What are the equivalent units for materials for the month in the first processing department?

A)630
B)6,675
C)7,200
D)6,000

Question 43

Damesin Inc.uses the FIFO method in its process costing system.The following data concern the operations of the company's first processing department for a recent month. Required:
Using the FIFO method:
a.Determine the equivalent units of production for materials and conversion costs.
b.Determine the cost per equivalent unit for materials and conversion costs.
c.Determine the cost of ending work in process inventory.
d.Determine the cost of units transferred out of the department during the month.

Question 44

Pratt Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text {Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory.............. } &400\\ \text { Materials costs............................................................ } &\$6,000\\ \text { Conversion costs........................................................ } &\$10,600\\ \text { Percent complete with respect to materials................ } &70\%\\ \text {Percent complete with respect to conversion............... } &55\%\\ \text { Units started into production during the month......... } &9,900\\ \text {Units transferred to the next department during the } &\\ \text {month........................................................................ } &9,300\\ \text {Materials costs added during the month.................... } &\$200,700\\ \text {Conversion costs added during the month................ } &\$435,200\\ \text { Ending work in process inventory: } &\\ \text {Units in ending work in process inventory................ } &1,000\\ \text {Percent complete with respect to materials.............. } &55\%\\ \text {Percent complete with respect to conversion............ } &25\%\\\end{array}$

Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-The total cost transferred from the first processing department to the next processing department during the month is closest to:

A)$629,304
B)$652,500
C)$635,900
D)$696,455

Question 45

Pratt Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text {Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory.............. } &400\\ \text { Materials costs............................................................ } &\$6,000\\ \text { Conversion costs........................................................ } &\$10,600\\ \text { Percent complete with respect to materials................ } &70\%\\ \text {Percent complete with respect to conversion............... } &55\%\\ \text { Units started into production during the month......... } &9,900\\ \text {Units transferred to the next department during the } &\\ \text {month........................................................................ } &9,300\\ \text {Materials costs added during the month.................... } &\$200,700\\ \text {Conversion costs added during the month................ } &\$435,200\\ \text { Ending work in process inventory: } &\\ \text {Units in ending work in process inventory................ } &1,000\\ \text {Percent complete with respect to materials.............. } &55\%\\ \text {Percent complete with respect to conversion............ } &25\%\\\end{array}$

Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-What are the equivalent units for materials for the month in the first processing department?

A)10,300
B)550
C)9,570
D)8,900

Question 46

In July,one of the processing departments at Keen Corporation had beginning work in process inventory of $19,000 and ending work in process inventory of $18,000.During the month,the cost of units transferred out from the department was $216,000.The company uses the FIFO method in its process costing system.
In the department's cost reconciliation report for July,the costs added to production in the department would be:

A)$217,000
B)$198,000
C)$197,000
D)$215,000

Question 47

Epstein Inc.uses the FIFO method in its process costing system.The following data concern the operations of the company's first processing department for a recent month. Required:
Using the FIFO method:
a.Determine the equivalent units of production for materials and conversion costs.
b.Determine the cost per equivalent unit for materials and conversion costs.
c.Determine the cost of ending work in process inventory.
d.Determine the cost of units transferred out of the department during the month.

Question 48

Osman Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text { Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory..............} &500\\ \text { Materials costs........................................................... } &\$10,000\\ \text { Conversion costs........................................................ } &\$10,500\\ \text { Percent complete with respect to materials................ } &70\%\\ \text { Percent complete with respect to conversion..............} &65\%\\ \text { Units started into production during the....................} &9,500\\ \text { Units transferred to the next department during the } &\\ \text { month....................................................................... } &8,600\\ \text {Materials costs added during the month.................... } &\$239,700\\ \text {Conversion costs added during the month................. } &\$261,500\\ \text { Ending work in process inventory: } &\\\text { Units in ending work in process inventory................ } &1,400\\ \text { Percent complete with respect to materials.............. } &55\%\\ \text { Percent complete with respect to conversion............ } &40\%\\\end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-What are the equivalent units for conversion costs for the month in the first processing department?

A)8,100
B)560
C)8,835
D)10,000

Question 49

Moulgadi Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text {Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory.............. } &700\\ \text { Materials costs............................................................ } &\$10,900\\ \text { Conversion costs........................................................ } &\$4,600\\ \text { Percent complete with respect to materials................ } &65\%\\ \text {Percent complete with respect to conversion............... } &15\%\\ \text { Units started into production during the month......... } &9,700\\ \text {Units transferred to the next department during the } &\\ \text {month........................................................................ } &8,800\\ \text {Materials costs added during the month.................... } &\$204,900\\ \text {Conversion costs added during the month................ } &\$362,600\\ \text { Ending work in process inventory: } &\\ \text {Units in ending work in process inventory................ } &1,600\\ \text {Percent complete with respect to materials.............. } &65\%\\ \text {Percent complete with respect to conversion............ } &55\%\\\end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-The total cost transferred from the first processing department to the next processing department during the month is closest to:

A)$526,967
B)$583,000
C)$620,901
D)$567,500

Question 50

Moulgadi Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text {Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory.............. } &700\\ \text { Materials costs............................................................ } &\$10,900\\ \text { Conversion costs........................................................ } &\$4,600\\ \text { Percent complete with respect to materials................ } &65\%\\ \text {Percent complete with respect to conversion............... } &15\%\\ \text { Units started into production during the month......... } &9,700\\ \text {Units transferred to the next department during the } &\\ \text {month........................................................................ } &8,800\\ \text {Materials costs added during the month.................... } &\$204,900\\ \text {Conversion costs added during the month................ } &\$362,600\\ \text { Ending work in process inventory: } &\\ \text {Units in ending work in process inventory................ } &1,600\\ \text {Percent complete with respect to materials.............. } &65\%\\ \text {Percent complete with respect to conversion............ } &55\%\\\end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to:

A)$95,523
B)$56,031
C)$52,538
D)$62,090

Question 51

Qtech Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text {Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory.............. } &600\\ \text { Materials costs............................................................ } &\$3,200\\ \text { Conversion costs........................................................ } &\$2,200\\ \text { Percent complete with respect to materials................ } &50\%\\ \text {Percent complete with respect to conversion............... } &10\%\\ \text { Units started into production during the month......... } &8,900\\ \text {Materials costs added during the month.................... } &\$76,100\\ \text {Conversion costs added during the month................ } &\$281,200\\ \text { Ending work in process inventory: } &\\ \text {Units in ending work in process inventory................ } &1,400\\ \text {Percent complete with respect to materials.............. } &75\%\\ \text {Percent complete with respect to conversion............ } &55\%\\\end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-The cost per equivalent unit for conversion costs for the first department for the month is closest to:

A)$34.72
B)$33.52
C)$36.67
D)$31.92

Question 52

Noda Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text { Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory..............} &300\\ \text { Materials costs........................................................... } &\$3,000\\ \text { Conversion costs........................................................ } &\$5,500\\ \text { Percent complete with respect to materials................ } &85\%\\ \text { Percent complete with respect to conversion..............} &60\%\\ \text { Units started into production during the....................} &6,900\\ \text { Units transferred to the next department during the } &\\ \text { month....................................................................... } &3,600\\ \text {Materials costs added during the month.................... } &\$70,400\\ \text {Conversion costs added during the month................. } &\$179,200\\ \text { Ending work in process inventory: } &\\\text { Units in ending work in process inventory................ } &900\\ \text { Percent complete with respect to materials.............. } &70\%\\ \text { Percent complete with respect to conversion............ } &55\%\\ \end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-The cost per equivalent unit for conversion costs for the first department for the month is closest to:

A)$30.56
B)$27.92
C)$28.44
D)$27.09

Question 53

In July,one of the processing departments at Keen Corporation had beginning work in process inventory of $19,000 and ending work in process inventory of $18,000.During the month,the cost of units transferred out from the department was $216,000.The company uses the FIFO method in its process costing system.
In the department's cost reconciliation report for July,the total cost accounted for would be:

A)$37,000
B)$449,000
C)$234,000
D)$468,000

Question 54

Osman Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text { Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory..............} &500\\ \text { Materials costs........................................................... } &\$10,000\\ \text { Conversion costs........................................................ } &\$10,500\\ \text { Percent complete with respect to materials................ } &70\%\\ \text { Percent complete with respect to conversion..............} &65\%\\ \text { Units started into production during the....................} &9,500\\ \text { Units transferred to the next department during the } &\\ \text { month....................................................................... } &8,600\\ \text {Materials costs added during the month.................... } &\$239,700\\ \text {Conversion costs added during the month................. } &\$261,500\\ \text { Ending work in process inventory: } &\\\text { Units in ending work in process inventory................ } &1,400\\ \text { Percent complete with respect to materials.............. } &55\%\\ \text { Percent complete with respect to conversion............ } &40\%\\\end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-The cost per equivalent unit for materials for the month in the first processing department is closest to:

A)$28.57
B)$26.57
C)$27.87
D)$23.97

Question 55

Pratt Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text {Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory.............. } &400\\ \text { Materials costs............................................................ } &\$6,000\\ \text { Conversion costs........................................................ } &\$10,600\\ \text { Percent complete with respect to materials................ } &70\%\\ \text {Percent complete with respect to conversion............... } &55\%\\ \text { Units started into production during the month......... } &9,900\\ \text {Units transferred to the next department during the } &\\ \text {month........................................................................ } &9,300\\ \text {Materials costs added during the month.................... } &\$200,700\\ \text {Conversion costs added during the month................ } &\$435,200\\ \text { Ending work in process inventory: } &\\ \text {Units in ending work in process inventory................ } &1,000\\ \text {Percent complete with respect to materials.............. } &55\%\\ \text {Percent complete with respect to conversion............ } &25\%\\\end{array}$

Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-The cost per equivalent unit for conversion costs for the first department for the month is closest to:

A)$48.18
B)$46.80
C)$48.98
D)$46.65

Question 56

In January,one of the processing departments at Sessum Corporation had beginning work in process inventory of $17,000.During the month,$172,000 of costs were added to production and the cost of units transferred out from the department was $178,000.The company uses the FIFO method in its process costing system.
In the department's cost reconciliation report for January,the total cost to be accounted for would be:

A)$361,000
B)$189,000
C)$28,000
D)$378,000

Question 57

In January,one of the processing departments at Sessum Corporation had beginning work in process inventory of $17,000.During the month,$172,000 of costs were added to production and the cost of units transferred out from the department was $178,000.The company uses the FIFO method in its process costing system.
In the department's cost reconciliation report for January,the cost of ending work in process inventory would be:

A)$17,000
B)$5,000
C)$11,000
D)$23,000

Question 58

Qtech Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: $\begin{array}{llcc} \text {Beginning work in process inventory: } &\\ \text { Units in beginning work in process inventory.............. } &600\\ \text { Materials costs............................................................ } &\$3,200\\ \text { Conversion costs........................................................ } &\$2,200\\ \text { Percent complete with respect to materials................ } &50\%\\ \text {Percent complete with respect to conversion............... } &10\%\\ \text { Units started into production during the month......... } &8,900\\ \text {Materials costs added during the month.................... } &\$76,100\\ \text {Conversion costs added during the month................ } &\$281,200\\ \text { Ending work in process inventory: } &\\ \text {Units in ending work in process inventory................ } &1,400\\ \text {Percent complete with respect to materials.............. } &75\%\\ \text {Percent complete with respect to conversion............ } &55\%\\\end{array}$
Note: Your answers may differ from those offered below due to rounding error.In all cases,select the answer that is the closest to the answer you computed.To reduce rounding error,carry out all computations to at least three decimal places.

-How many units were started AND completed during the month in the first processing department?

A)8,900
B)9,500
C)8,100
D)7,500

Question 59

Sharp Company has a process costing system.The following data relate to the company's Mixing Department for a recent month: All materials are added at the beginning of the Mixing process.
Required:
a.Compute the equivalent units of production for materials using the FIFO method.
b.Compute the equivalent units of production for conversion using the FIFO method.
c.Compute the equivalent units of production for materials using the weighted-average method.
d.Compute the equivalent units of production for conversion using the weighted-average method.

Question 60

The following information relates to the Mixing Department of Zaglav Products Company for the month of June.Zaglav uses a FIFO process costing system. $\text {Work in process, beginning (June 1):}$
$\begin{array}{llcc} \text {Units in process........................................................... } &8,000\\ \text { Percent complete with respect to materials................. } &100\%\\ \text { Percent complete with respect to conversion............... } &75\%\\ \text {Units completed and transferred out during June........ } &84,000\\\end{array}$


$\text {Work in process, ending (June 30):}$
$\begin{array}{llcc} \text {Units in process................................................. } &3,000\\ \text { Percent complete with respect to materials......} &100\%\\ \text { Percent complete with respect to conversion.... } &10\%\\\end{array}$

-What are the Mixing Department's equivalent units related to materials for June?

A)76,000
B)79,000
C)87,000
D)84,000

Question 61

Auguste Corporation uses the FIFO method in its process costing.The following data pertain to its Assembly Department for October. Required:
Compute the equivalent units of production for both materials and conversion costs for the Assembly Department for October using the FIFO method.

Question 62

In October,one of the processing departments at Julian Corporation had ending work in process inventory of $14,000.During the month,$240,000 of costs were added to production and the cost of units transferred out from the department was $248,000.The company uses the FIFO method in its process costing system.
Required:
Construct a cost reconciliation report for the department for the month of October.

Question 63

Lasswell Corporation uses the FIFO method in its process costing.The following data pertain to its Assembly Department for May. Required:
Determine the equivalent units of production for the Assembly Department for May using the FIFO method.

Question 64

The following data have been provided by Leon Corporation for the Circuit Prep Department.The company uses the FIFO method in its process costing. Required:
Determine the equivalent units of production for the Circuit Prep Department for December using the FIFO method.

Question 65

In October,one of the processing departments at Gascon Corporation had beginning work in process inventory of $10,000 and ending work in process inventory of $16,000.During the month,$100,000 of costs were added to production and the cost of units transferred out from the department was $94,000.The company uses the FIFO method in its process costing system.
Required:
Construct a cost reconciliation report for the department for the month of October.

Question 66

In August,one of the processing departments at Marchese Corporation had beginning work in process inventory of $34,000 and ending work in process inventory of $35,000.During the month,$401,000 of costs were added to production.The company uses the FIFO method in its process costing system.
Required:
Construct a cost reconciliation report for the department for the month of August.

Question 67

The following data has been provided by Leser Inc. ,a company that uses the FIFO method in its process costing system.The data concern the company's Shaping Department for the month of June. Required:
Determine the cost of ending work in process inventory and the cost of the units transferred out of the department during June using the FIFO method.

Question 68

Ahler Corporation uses the FIFO method in its process costing.The following data concern the company's Assembly Department for the month of October. Required:
Compute the costs per equivalent unit for the Assembly Department for October using the FIFO method.

Question 69

Rabin Corporation uses the FIFO method in its process costing.The following data concern the company's Mixing Department for the month of August. Required:
Compute the cost per equivalent unit for materials and conversion for the Mixing Department for August using the FIFO method.

Question 70

Bufford Corporation uses the FIFO method in its process costing system.The following data concern the company's Assembly Department for the month of September. Required:
Determine the cost of ending work in process inventory and the cost of units transferred out of the department during September using the FIFO method.

Question 71

Fryer Inc.uses the FIFO method in its process costing system.The following data concern the operations of the company's first processing department for a recent month. Required:
Using the FIFO method,determine the equivalent units of production for materials and conversion costs.

Question 72

The following data pertain to the Milling Department of Herd Corporation for September.The company uses the FIFO method in its process costing. Required:
Compute the equivalent units of production for both materials and conversion costs for the Milling Department for September using the FIFO method.