15) If a department has beginning inventory of 2,000 units, 23,000 units are started into production, and ending inventory is 1,500 units. What are the units completed and transferred out during the period? a)26,500 b)25,000 c)23,500 d)1,500

16) In a process costing system with two work in process departments, the journal entry to transfer from department A to department B would be a)debit WIP department A, credit WIP department B b)debit WIP department B, credit WIP department A c)debit Finished Goods Inventory, credit WIP department B d)debit WIP department B, credit Finished Goods Inventory 17) Which of the following is the best explanation of why it is necessary to calculate equivalent units of production in a process costing environment? a) In most manufacturing environments, it is not possible to conduct a physical count of units. b) Companies often use a combination of a process costing and job order costing systems. c) In most cases, there is no difference between physical units and equivalent units of production. d) All of the work to make a unit 100% complete and ready to move to the next stage of production or to finished goods inventory may not have been completed in a single time period.

18) A company uses the weighted average method for process inventory costing. At the end of the period, 25,000 units were in the ending Work in Process inventory and they are 100% complete for materials and 80% complete for conversion. The equivalent costs per unit are materials $5.25 and conversion $6.65. Compute the total cost that would be assigned to the ending Work in Process inventory for the period. a) $238,000 b) $264,250 c) $271,250 d) $297,500