1 Ibarra Corporation uses the FIFO method in its process costing system. The first processing department, the Forming Department, started the month with 16,400 units in its beginning work in process inventory that were 20% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $23,250. An additional 101,000 units were started into production during the month and 104,000 units were completed and transferred to the next processing department. There were 13,400 units in the ending work in process inventory of the Forming Department that were 30% complete with respect to conversion costs. A total of $597,123 in conversion costs were incurred in the department during the month. The cost per equivalent unit for conversion costs for the month is closest to:

Multiple Choice

• $5.22
• $5.90
• $5.92
• $5.70

2 Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 16,500 units, 100% complete with respect to materials cost and 40% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $24,600. A total of 50,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.30 for materials and $3.00 for conversion costs. The total cost of the units completed and transferred out of the department was:

Multiple Choice

• $215,000
• $155,000
• $206,150
• $184,700

3 In June, one of the processing departments at Furbush Corporation had ending work in process inventory of $12,200. During the month, $406,000 of costs were added to production and the cost of units transferred out from the department was $428,000.

In the department's cost reconciliation report for January, the cost of beginning work in process inventory for the department would be:

Multiple Choice

• $415,800
• $34,200
• $9,800
• $393,800