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17 1 CHAPTER 18 MULTIPLE CHOICE QUESTIONS Which of the following statements is true? (a) Normal spoilage is a period cost and is expensed (b) In process costing, normal spoilage is included in the equivalent unit calculations, but abnormal spoilage is not (e) In process costing using FIFO, all spoiled units are valued at current costs, even though some of the spoiled units may have been in beginning inventory (d) Normal spoilage consists of goods with a minor flaw, whereas abnormal spoilage is when the product has a major flaw. 2. Which of the following statements is false? (a) Abnormal spoilage is a period cost and is expensed in the period detected. (b) If the inspection point is at the end of the process then no normal spoilage costs are assigned to ending work-in-process inventory. (c) The equivalent units assigned to spoiled units depends on when the units are inspected and not on when the units may have actually spoiled. (d) Abnormal spoilage is assigned to units in ending work in process if these units have passed the inspection point. 3. Compute abnormal spoilage (in units) given the following facts: Normal spoilage is 5% of good output, inspection is at the end of the process, 500 good units are transferred out, 100 units are still in ending inventory, and 40 units are spoiled. (a) 15 units (b) 25 units (c) 30 units (d) 40 units 4. Compute equivalent units using weighted average for conversion costs given the following facts: Normal spoilage is 5% of good output, inspection is in the middle of the process, 500 good units are transferred out, 100 units in ending inventory (75% complete), and 40 units are spoiled: (a) 575 units (b) 595 units (c) 615 units (d) 640 units 5. Toadstone Co. transferred 400 units from Department A to Department B. In Department A, normal spoilage totaled 50 units and abnormal spoilage totaled 30 units. Spoilage is detected at the end of the process. If the per-unit conversion cost was $10 per unit the total conversion costs of the units transferred to Department B using the weighted average method would be? (a) $4,000 (b) $4,300 (c) $4,500 (d) $4,800