1. The following table was taken from Firm X's Production Cost Report: Completed and transferred out units 51,000 Ending work-in-process equivalent units 6,700 Beginning work-in-process equivalent units 10,700 What is the number of FIFO equivalent units?

Multiple Choice 47,000. 57,700. 55,000. 44,300. 61,700.

2.

Split Company produces three products X, Y, and Z from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split-off. Joint production costs for the year were $120,000. Sales values and costs needed to evaluate Split's production policy follow.

Product	Units Produced	Sales Value at Split Off	If Processed Further
			Sales Value	Additional Costs
x	6,000	$ 40,000	$ 80,000	$ 1,200
y	3,000	15,000	40,000	3,000
z	1,000	16,000	30,000	1,500

The amount of joint costs allocated to product Y using the physical measure method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):

Multiple Choice

• $12,000.

• $32,000.

• $36,000.

• $48,000.

• $72,000.

3. Split Company produces three products X, Y, and Z from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split-off. Joint production costs for the year were $120,000. Sales values and costs needed to evaluate Split's production policy follow.

Product	Units Produced	Sales Value at Split Off	If Processed Further
			Sales Value	Additional Costs
x	6,000	$ 40,000	$ 80,000	$ 1,200
y	3,000	15,000	40,000	3,000
z	1,000	16,000	30,000	1,500

The amount of joint costs allocated to product Y using the sales value at split-off method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):

Multiple Choice

• $20,341.

• $25,352.

• $27,042.

• $33,687.

• $67,606.

4.

Split Company produces three products X, Y, and Z from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split-off. Joint production costs for the year were $158,000. Sales values and costs needed to evaluate Split's production policy follow.

Product	Units Produced	Sales Value at Split Off	If Processed Further
			Sales Value	Additional Costs
x	10,000	$ 49,500	$ 127,500	$ 10,700
y	5,000	43,500	68,500	22,000
z	10,000	54,000	68,000	30,000

The amount of joint costs allocated to product Z using the physical measure method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):

Multiple Choice

• $63,200.

• $27,600.

• $31,600.

• $94,800.

• $73,200.