Question
15. Brand Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in
15. Brand Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 18,800 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $2.95 for materials and $4.45 for labor and overhead, the total cost assigned to the ending work in process inventory was:
Multiple Choice
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$139,120
$83,472
$88,924
$105,656
16. Brand Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the departments operations in January.
| Units |
| Percent Complete with Respect to Conversion | ||||
Beginning work in process inventory |
| 7,800 |
|
|
| 10 | % |
Transferred in from the prior department during January |
| 65,000 |
|
|
|
|
|
Completed and transferred to the next department during January |
| 64,800 |
|
|
|
|
|
Ending work in process inventory |
| 8,000 |
|
|
| 80 | % |
|
The Molding Departments cost per equivalent unit for conversion cost for January was $3.20. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January?
Multiple Choice
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$22,107.70
$25,600.00
$20,480.00
$5,120.00
17. Brand Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 16,000 units, 100% complete with respect to materials cost and 30% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $24,400. A total of 49,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.20 for materials and $4.00 for conversion costs. The total cost of the units completed and transferred out of the department was:
Multiple Choice
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$254,800
$260,000
$196,000
$240,800
18. In July, one of the processing departments at Brand Corporation had beginning work in process inventory of $14,000 and ending work in process inventory of $19,000. During the month, the cost of units transferred out from the department was $149,000. In the department's cost reconciliation report for July, the total cost to be accounted for under the weighted-average method would be:
Multiple Choice
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$33,000
$120,000
$133,000
$168,000
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