41. Which of the following costs incurred by a paper manufacturer would be included in the group of costs referred to as conversion costs? a. assembly labor's wages b. administrative salaries c. raw lumber d. accounting department costs 42. In the manufacture of 8,000 units of a product, direct materials cost incurred was $154,600, direct labor cost incurred was $84,000, and applied factory overhead was $45,500. What is the total conversion cost? a. $238,600 b. $284,100 c. $154,600 d. $129,500 43. Department S had 500 units 60% completed in process at the beginning of the period; 9,000 units completed during the period; and 600 units 30% completed at the end of the period. What was the number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories? Assume the completion percentage applies to both direct materials and conversion cost. a. 9,300 b. 8,700 c. 8,880 d. 9,000 44. The following production data were taken from the records of the Finishing Department for June: Inventory in process, June 1 (30% completed) 4,000 units Completed units during June 65,000 units Ending inventory (60% complete) 7,000 units What is the number of conversion equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories? a. 70,400 units b. 4,200 units c. 68,000 units d. 66,200 units 45. The following production data were taken from the records of the Finishing Department for June: Inventory in process, June 1 (30% completed) 4,000 units Completed units during June 65,000 units Ending inventory (60% complete) 7,000 units What is the number of material equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories and materials were added at the beginning of the process? a. 7,000 units b. 76,000 units c. 68,000 units d. 72,000 units 46. Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from current Period Direct materials 2,000 $ 22,252 Conversion costs 6,200 150,536 At the beginning of the period, there were 500 units in process that were 60% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,500 units were started and completed. Ending inventory contained 340 units that were 30% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process cost method. The equivalent units of production for direct materials and conversion costs, respectively, were a. 5,340 for direct materials and 4,902 for conversion costs b. 4,602 for direct materials and 4,802 for conversion costs c. 4,840 for direct materials and 4,802 for conversion costs d. 4,902 for direct materials and 4,802 for conversion costs 47. Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from current Period Direct materials 2,000 $ 22,252 Conversion costs 6,200 150,536 At the beginning of the period, there were 500 units in process that were 60% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,500 units were started and completed. Ending inventory contained 340 units that were 30% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process cost method. The cost of completing a unit during the current period was a. $36.19 b. $35.95 c. $34.88 d. $35.89 48. Equivalent production units are generally determined for a. direct materials only b. conversion costs only c. direct materials and direct labor costs only d. direct materials and conversion costs 49. Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $55,000, $65,000, and $80,000, respectively. In addition, work in process at the beginning of the period for Department 1 totaled $75,000, and work in process at the end of the period totaled $60,000. The journal entry to record the flow of costs into Department 1 during the period for direct materials is a. Work in ProcessDepartment 1100,000 Materials100,000 b. Materials55,000 Work in ProcessDepartment 155,000 c. Materials100,000 Work in ProcessDepartment 1100,000 d. Work in ProcessDepartment 155,000 Materials55,000 50. Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $55,000, $65,000, and $80,000, respectively. In addition, work in process at the beginning of the period for Department 1 totaled $75,000, and work in process at the end of the period totaled $60,000. The journal entry to record the flow of costs from Department 1 into Department 2 is a. Work in ProcessDepartment 2375,000 Work in ProcessDepartment 1375,000 b. Work in ProcessDepartment 2330,000 Work in ProcessDepartment 1330,000 c. Work in ProcessDepartment 2215,000 Work in ProcessDepartment 1215,000 d. Work in ProcessDepartment 2390,000 Work in ProcessDepartment 1390,000