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1. The Rugger company uses a process costing system. During the period, 500 units were inbeginning inventory, 1,400 were started and 1,000 units were completed and transferred out.The beginning work in process was 20 % complete and the ending work in process units were60% complete. Materials started at the beginning of the process and conversion costs are addedevenly throughout production. Beginning WIP had $8,950 of materials costs and $860 ofconversion costs. The cost of materials added during the current period amounted to $29,050;the conversion costs added during the current period amounted to $34,560. What was the costper equivalent unit of production for conversion costs, using the weighted-average method?A. $20B. $23C. $20.75D. $242. Assume an ending work in process of inventory of 100 units, 80% complete regarding materialsand 30% complete regarding conversion costs. What is the number of equivalent unit formaterials and conversion, assuming the FIFO method is used?A. 30 units for materials and 90 units for conversion costsB. 80 units for materials and 30 units for conversion costs.C. 100 units for materials and 100 units for conversion costs.D. 100 units for materials and 70 units for conversion costs.3. Winter Corporation uses a process costing system. Materials are added at the beginning of theprocess while conversion costs are incurred uniformly throughout the process. Work in processinventory at the beginning of the period is 70 % complete and 40 % complete at the end of theperiod. Additional data is as follows:Beginning work in process inventory33,500 unitsUnits Completed325,000 unitsEnding Work in process inventory58,500 unitsCost of direct materials added during the current period$962,500Cost of conversion added during the current period$714,890Cost of direct materials contained in beginning work in process inventory$72,950Cost of conversion contained in beginning work in process inventory$69,010Assuming Winter uses the FIFO method, what is the total cost of the ending work in processinventory?A. $1,608.750B. $1,606,995C. $212,355D. $210,6004. Forsyth Company produces calendars in a one-process department. Materials are introduced atthe beginning of the process. Conversion is applied uniformly throughout the process. Data forthe current period is as follows:Beginning work in process inventory (40% complete)22,500 unitsUnits started in current period130,000 unitsEnding work in process inventory (60% complete)28,500 unitsCosts contained in beginning work in process inventoryDirect Materials$44,850Conversion$23,156Costs added during current periodDirect materials$312,000Conversion$422,720Assuming Forsyth uses the FIFO method, what were the equivalent units of production forconversion costs?A 132,100B. 152,500C. 130,000D. 141,100Assuming Forsyth uses the FIFO method, what was the cost per equivalent unit produced fordirect materials?A. $3.16B. $3.20C. $2.34D. $2.405. The blue tide company manufactures light bulbs in a single process. The following information isavailable:Work in process inventory, Jan. 12,000 unitsUnits started in production12,000 unitsunits completed and transferred out9,000 unitswork in process inventory, Dec. 315,000 unitsProduction costsDirect Materials$38,250Direct Labor$14,000Manufacturing overhead$8,560Materials are added at the end of the process. The beginning work in process was 70 % completeand had $2,250 of materials costs and $9,340 of conversion costs. The ending work in processwas 40% complete. Assuming the FIFO method was used, what was the cost per equivalent unitsof production for material costs?A. $2.90B. $4.50C. $2.35D. $4.256. Assuming that there was no beginning work in process inventory, and the ending work in processinventory is 30% complete as to direct materials costs, the number of equivalent units for directmaterials costs would be which of the following assuming the FIFO method?A. Less than the number of units started in production.B. Less than the number of units completed.C. Equal to the number of units completed.D. Equal to the number of units started in production.7. PCS Corporation manufactures clocks using a two-department process. Direct materials areadded in both the assembly and finishing departments. Conversion costs are applied uniformlythroughout the process. The FIFO method of process costing is used. Data for the finishingdepartment for the month of April follow:Beginning work in process inventoryNumber of units14,000Transferred-in costs$142,500Direct materials (100% complete)$44,950conversion costs (60% complete)$39,135Units transferred in from Assembly-department during April:Number of units45,000Transferred in costs$477,000Costs added during April:Direct materials$135,000Conversion Costs$212,850Ending work in process inventoryNumber of units17,000(100% complete as to direct materials and 30% complete as to conversion costs)What was the cost transferred from the Finishing department in April?A. $257,635B. $793,800C. $259,250D. 792,185What were the equivalent units of production for direct materials?A. 59,000B. 45,000C. 38,700D. 47,1008. The USA company manufactures flags in a single process. The following information has beenprovided by USA company:Work in process inventory. Jan, 15,000 unitsUnits started in production18,000 unitsWork in process inventory, Dec. 316,000 unitsProduction Costs:Direct Materials$213,850Direct labor$570,425Manufacturing overhead$400,000The beginning units still in process are 30% complete with respect to direct materials and 40%complete with respect to conversion costs and had $22,550 of materials costs and $108,725 ofconversion costs. The ending units still in process are 45% complete with respect to directmaterials and 35% complete with respect to conversion costs. Assuming the FIFO method wasused, what was the cost per equivalent unit of production for direct materials?A. $56.50B. $12C. $56.75D.$11.75Assuming the FIFO method was used, what were the equivalent units of production for directmaterials?A. 17,100 unitsB. 19,100 unitsC. 19,700 unitsD. 18,200 units9. The Made Rite Shoe Corporation uses a process costing system. In the cutting department, therewas no beginning inventory. 4,000 units were started during the period and by the end of theperiod, all but 400 units had been completed. The 400 units were 80% complete regardingmaterials and 40% complete regarding conversion costs. Costs added during the current periodinclude $66,640 for materials and $70,312 for conversion. What was the number of equivalentunits of production for conversion costs assuming the FIFO method?A. 3,700B. 3,760C. 3,900D. 3,920What was the number of equivalent units of production for direct materials, assuming the FIFOmethod?A. 3,540B. 3,900C 3,920D. 3,76010. XYZ company manufactures paint. One of its plants makes a light colored base that can be tintedat the retail store to match any color chosen by the customer. At the end of the current month,XYZ had 5,000 gallons of paint still in process. All of the ingredients had been added to the vats,but they still needed to be mixed and then poured into gallon containers. Each gallon was 75% ofthe way through the production process and conversion costs are incurred evenly throughoutthe process. What are the equivalent units of conversion costs in the ending work in processinventory, assuming the FIFO method is used?A. 3,750B. 5,000C. 1,250D.0
