1.) The Miracle Company had 20,000 units in process on December 31, 2016 which was 80% complete as to materials but only 40% complete as to conversion costs. The company's records show 40,000 units were transferred to the Finished Goods Inventory during January 2017. On January 31, 2017, 15,000 units were on hand which were 30% complete as to conversion costs and 60% complete as to materials. What are the equivalent units of production for the conversion costs in January, assuming Miracle uses first-in, first-out (FIFO)?

a.) 34,000.

b.) 35,000.

c.) 36,500.

d.) 41,500.

2.) The Townson Manufacturing Company has gathered the following information for the month of September:

6,000 units in the beginning Work-in-Process Inventory (75% complete as to materials, 1/3 complete with respect to the conversion costs).

60,000 units were started into production.

50,000 units were completed and transferred to the next department.

The ending Work-in-Process Inventory is complete as to materials but only 3/8 complete with respect to conversion costs.

What are the equivalent units of production (EUP) for materials in the month of September assuming Townson uses weighted-average process costing?

a.) 52,000

b.) 64,500

c.) 66,000

d.) 61,500

3.) Haberdashery Company has a beginning Work-in-Process Inventory of 25,000 units (40% complete). During the period, 110,000 units were started and the ending Work-in-Process Inventory consisted of 20,000 units (80% complete). What are the equivalent units for conversion costs using weighted-average process costing?

a.) 110,000.

b.) 115,000.

c.) 121,000.

d.) 131,000.

4.) The Lakeside Company uses a weighted-average process costing system. The following data are available:

Beginning inventory		-0-
Units started in production		20,000
Units finished during the period		16,000
Units in process at the end of the period (complete as to materials, complete as to labor and overhead)		4,000
Cost of materials used	$	35,200
Labor and overhead costs	$	37,400

Equivalent units of production for material are:

a.) 16,000.

b.) 17,000.

c.) 19,000.

d.) 20,000.

5.) The Lakeside Company uses a weighted-average process costing system. The following data are available:

Beginning inventory		-0-
Units started in production		20,000
Units finished during the period		16,000
Units in process at the end of the period (complete as to materials, complete as to labor and overhead)		4,000
Cost of materials used	$	35,200
Labor and overhead costs	$	37,400

Equivalent units of production for labor and overhead are:

a.) 16,000.

b.) 17,000.

c.) 19,000.

d.) 20,000.

6.) The Lakeside Company uses a weighted-average process costing system. The following data are available:

Beginning inventory		-0-
Units started in production		20,000
Units finished during the period		16,000
Units in process at the end of the period (complete as to materials, complete as to labor and overhead)		4,000
Cost of materials used	$	35,200
Labor and overhead costs	$	37,400

Unit cost of material is:

a.) $2.20.

b.) $2.07.

c.) $1.85.

d.) $1.76.

7.) The Lakeside Company uses a weighted-average process costing system. The following data are available:

Beginning inventory		-0-
Units started in production		20,000
Units finished during the period		16,000
Units in process at the end of the period (complete as to materials, complete as to labor and overhead)		4,000
Cost of materials used	$	35,200
Labor and overhead costs	$	37,400

Unit cost of labor and overhead is:

a.) $2.34.

b.) $2.20.

c.) $1.97.

d.) $1.87.

8.) The Lakeside Company uses a weighted-average process costing system. The following data are available:

Beginning inventory		-0-
Units started in production		20,000
Units finished during the period		16,000
Units in process at the end of the period (complete as to materials, complete as to labor and overhead)		4,000
Cost of materials used	$	35,200
Labor and overhead costs	$	37,400

Total cost of the 4,000 units of the ending inventory:

a.) $15,840.

b.) $14,520.

c.) $9,240.

d.) $8,910.

9.) The Finishing Department had 5,000 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to materials and 30% complete as to conversion costs. 15,000 units were received from the previous department. The ending Work-in-Process Inventory consisted of 2,000 units which were 50% complete as to materials and 30% complete as to conversion costs. The Finishing Department uses first-in, first-out (FIFO) process costing.

How many units were started and completed during the period?

a.) 12,000.

b.) 13,000.

c.) 18,000.

d.) 20,000.