10-11

QUESTION 10 Jet Products had no units in process at the beginning of the year. Jet uses process costing and has calculated 45,000 total equivalent units completed during the year. If there were 53,000 units started in the current period and 10,000 units in ending work-in-process, what percentage complete were the ending inventory units? 22% 85% Cannot be determined from the information given. 20% 50% QUESTION 11 In its initial year of operation, Monty Manufacturing started and completed 4,000 identical widgets and had 1,000 widgets that were 40% complete in work-in-process at the end of the year. Total production costs for the year were $55,000. What is the cost per equivalent unit? O $11.00 O $12.50 O $11.96 O $13.75