6. A company's file of job cost sheets for jobs that are completed but not yet sold equals the balance in the Work in Process Inventory account.

True or False?

7.

At the beginning of the month, the Drawing Department of Red Bush Manufacturing had 20,000 units in inventory, 70% complete as to materials, and 20% complete as to conversion. During the month the department started 115,000 units and transferred 120,000 units to the next manufacturing department. At the end of the month, the department had 15,000 units in inventory, 40% complete as to materials and 10% complete as to conversion. If Red Bush Manufacturing uses the weighted average method of process costing, compute the equivalent units for materials and conversion respectively for the Painting Department.

Multiple Choice

• 126,000 materials; 117,500 conversion.

• 112,000 materials; 117,500 conversion.

• 126,000 materials; 121,500 conversion.

• 121,500 materials; 126,000 conversion.

• 112,000 materials; 121,500 conversion.