1.

2.

Kimbeth Manufacturing uses a process cost system to manufacture dust density sensors for the mining industry. The following information pertains to operations for the month of May. The beginning inventory was 60% complete for materials and 20% complete for conversion costs. The ending inventory was 90% complete for materials and 40% complete for conversion costs. Costs pertaining to the month of May are: - Beginning inventory costs are: materials, $54,560; direct labor, $20,320; and factory overhead, $15,240. - Costs incurred during May are: materials used, $468,000; direct labor, $182,880; and factory overhead, $391,160. Using the first-in, first-out (FIFO) method, the equivalent unit conversion cost for May is: $6.24. $1.86. $5.83. $6.20. Adam Corporation manufactures computer tables and has the following budgeted indirect manufacturing cost information for next year: If Adam uses the step-down method, beginning with the Systems Department, to allocate support department costs to production departments, the total overhead (rounded to the nearest dollar) for the Machining Department to allocate to its products would be: $395,000 $445,389 $442,053. $425,000