33 CHAPTER 17 MULTIPLE CHOICE QUESTIONS 1. Examples of products or operations for which process costing system would probably be appropriate include (a) aircraft production (b) building construction (c) flour milling (d) book publishing 2. Solenoid Company's Process S completed and transferred out 4,200 units during March and contained costs and 100% complete as to material costs. There was no beginning inventory in process. Compute the equivalent units for conversion costs and for material costs. (Note: Since no beginning WIP, FIFO and Weighted Average would give identical results.) (a) 4.760 units for conversion costs, 4,760 units for material costs (b) 4,440 units for conversion costs, 5.000 units for material costs (c) 4,440 units for conversion costs, 4,440 units for material costs (d) 4.760 units for conversion costs, 5.000 units for material costs 3. Amos Company's Process H completed and transferred out 2,300 units during April and contained an ending inventory of 200 units of work in process, which were 30% complete as to conversion costs and 100% complete as to material costs. There was no beginning inventory in process. The month's charges were $9,440 for conversion costs and $6,250 for material costs. Compute the cost of work transferred out: (a) $16.250 (b) $8,510 $15,690 (d) $14,950 4. Ocean Product's Process J completed and transferred out 1,700 units during May and contained an ending inventory of 300 units of work in process, which were 70% complete as to conversion costs and 100% complete as to material costs. There was no beginning inventory in process. The month's charges were $6,685 for conversion costs and $6,400 for material costs. Compute the cost of the ending inventory. (c) $2,010 (d) $13,085 (a) $1,695 (b) $11,390 5. Walton, Incorporated, had 8,000 units of work in process in Department A on October 1. These unit were 60% complete as to conversion costs. Materials are added in the beginning of the process. During the month of October, 34,000 units were started and 36,000 units completed. Walton had 6,000 units of work in process on October 31. These units were 80% complete as to conversion cos By how much did the equivalent units for the month of October using the weighted average metho exceed the equivalent units for the month of October using the first-in, first-out method? (a) (b) (C) (d) Materials Conversion Costs 0 3,200 0 4,800 8,000 3,200 8,000 4,800