49) On January 1, 2015, Frederic Manufacturing had a beginning balance in Work-in-Process Inventory of $160,000 and a beginning balance in Finished Goods Inventory of $20,000. During the year, Frederic incurred manufacturing costs of $200,000. During the year, the following transactions occurred Job C-6 ob C-63 was completed for a total cost of $180,000 and was sold for $210,000. Job C-64 was completed for a total cost $80,000 but was not sold as of year-end. 2 was completed for a total cost of $140,000 and was sold for $155,000. The Manufacturing Overhead account had an unadjusted credit balance of $24,000, and was cleared to zero at year-end. What was the final balance in the Cost of Goods Sold account? B) $296,000 credit balance D) $341,000 debit balance A) $341,000 credit balance C) $296,000 debit balance h of the following describes the allocation base for allocating manufacturing overhead costs? A) the main element that causes direct costs B) the percentage used to allocate direct labor to Work in Process C) the primary cost driver of indirect manufacturing costs D) the estimated base amount of manufacturing overhead costs in a year 50) Whic 51) A production cost report aids in preparing an income statement by A) providing data for various inventory accounts B) providing data for period costs incurred during the period C) providing data for cost of goods sold during the period D) providing data for revenues generated during the period 52) processing departments-Mixing, Refining, and Packaging. On January 1, 2014, the first department Mixing-had no beginning inventory. During January, 40,000 fl. oz. of chemicals were started in production. Of these, 32,000 fl. oz. were completed and 8,000 fl. oz. remained in process. Mixing Department, all direct materials are added at the beginning of the production process and conversion costs are applied evenly through the process. 52) LDR Manufacturing produces a chemical pesticide and uses process costing. There are three In the At the end of the month, LDR calculated equivalent units in the Mixing Department as showrn below: EQUIVALENT UNITS Units to account for Completed End bal. WIP Equivalent Units Direct Materials CostConversion Cost 32,000 4,800 36,800 32,000 32,000 40,000 40,000 * % of completion for direct materials costs: 100% % of completion for conversion costs: 60% Du ring January, the Mixing Department incurred $48,000 in direct materials costs and $211,600 in conversion costs. How much was the cost per equivalent unit for materials and for conversi costs? (Use the weighted average method and round your answer to the nearest cent) A) $1.20 for materials and $6.61 for conversion B) $6.00 for materials and $5.29 for conversion C) $1.50 for materials and $6.61 for conversion D) $1.20 for materials and $5.75 for conversion 49) On January 1, 2015, Frederic Manufacturing had a beginning balance in Work-in-Process Inventory of $160,000 and a beginning balance in Finished Goods Inventory of $20,000. During the year, Frederic incurred manufacturing costs of $200,000. During the year, the following transactions occurred Job C-6 ob C-63 was completed for a total cost of $180,000 and was sold for $210,000. Job C-64 was completed for a total cost $80,000 but was not sold as of year-end. 2 was completed for a total cost of $140,000 and was sold for $155,000. The Manufacturing Overhead account had an unadjusted credit balance of $24,000, and was cleared to zero at year-end. What was the final balance in the Cost of Goods Sold account? B) $296,000 credit balance D) $341,000 debit balance A) $341,000 credit balance C) $296,000 debit balance h of the following describes the allocation base for allocating manufacturing overhead costs? A) the main element that causes direct costs B) the percentage used to allocate direct labor to Work in Process C) the primary cost driver of indirect manufacturing costs D) the estimated base amount of manufacturing overhead costs in a year 50) Whic 51) A production cost report aids in preparing an income statement by A) providing data for various inventory accounts B) providing data for period costs incurred during the period C) providing data for cost of goods sold during the period D) providing data for revenues generated during the period 52) processing departments-Mixing, Refining, and Packaging. On January 1, 2014, the first department Mixing-had no beginning inventory. During January, 40,000 fl. oz. of chemicals were started in production. Of these, 32,000 fl. oz. were completed and 8,000 fl. oz. remained in process. Mixing Department, all direct materials are added at the beginning of the production process and conversion costs are applied evenly through the process. 52) LDR Manufacturing produces a chemical pesticide and uses process costing. There are three In the At the end of the month, LDR calculated equivalent units in the Mixing Department as showrn below: EQUIVALENT UNITS Units to account for Completed End bal. WIP Equivalent Units Direct Materials CostConversion Cost 32,000 4,800 36,800 32,000 32,000 40,000 40,000 * % of completion for direct materials costs: 100% % of completion for conversion costs: 60% Du ring January, the Mixing Department incurred $48,000 in direct materials costs and $211,600 in conversion costs. How much was the cost per equivalent unit for materials and for conversi costs? (Use the weighted average method and round your answer to the nearest cent) A) $1.20 for materials and $6.61 for conversion B) $6.00 for materials and $5.29 for conversion C) $1.50 for materials and $6.61 for conversion D) $1.20 for materials and $5.75 for conversion