Assume the following information: Percent Complete Materials Conversion 408 30$ Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory Units 200 6,200 5,800 600 1008 606 1008 30$ Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials $ 10,000 290,000 $300,000 Conversion $ 15,000 388,000 $403,000 Using the weighted-average method, the total cost of ending work in process inventory reported on the cost reconciliation report is closest to: Multiple Choice $30.902 $29,662 Assume the following information: Percent Complete Materials Conversion 408 300 Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory Units 200 6,200 5,800 600 1008 203 1008 708 Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials Conversion $ 10,000 $ 15,000 290,000 386,000 $300,000 $401,000 Using the weighted average method, the total cost of the units completed and transferred out that would be reported on the cost reconciliation report is closest to: Multiple Choice 5565770 6970 Assume the following information: Percent Complete Materials Conversion 408 308 Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory Units 200 6,200 5,800 600 100% 28 100% 608 Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials $ 10,000 290,000 $300,000 Conversion $ 15,000 385,000 $400,000 If the cost per equivalent unit for materials is $48.23 using the welghted-average method, then the percent complete with respect to the materials in ending work in process inventory is closest to: Multiple Choice 60% SON Assume a company uses the weight-average method in its process costing. Its Work in Process T-account for the Refining Department for August is: August 1 balance ? Materials Direct labor Overhead August 31 balance Work in Process Refining Department 62,000 Completed and transferred to Finished Goods 310,000 72,000 181,000 The August 1 work in process inventory consisted of 6,000 units with $49,500 in materials cost and $12,500 in conversion cost. The August 1 work in process inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 48,000 units were started into production. The August 31 work in process inventory consisted of 8,000 units that were 100% with respect to materials and 60% complete with respect to conversion The cost per equivalent unit for materials is closest to: Multiple Choice $7.96 56.66 $9.46 Assume the following information: Percent Complete Materials Conversion 408 308 Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory Units 200 6,200 5,800 1008 28 600 1008 608 Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials Conversion $ 10,000 $ 15,000 290,000 385,000 $300,000 $400,000 If the cost per equivalent unit for materials is $47.23 using the FIFO method, then the percent complete with respect to the materials in ending work in process inventory is closest to: Multiple Choice 40% SON Assume the following information: Percent Complete Materials Conversion 408 30$ Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory Units 200 6,200 5,800 600 1008 606 1008 30$ Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials $ 10,000 290,000 $300,000 Conversion $ 15,000 388,000 $403,000 Using the weighted-average method, the total cost of ending work in process inventory reported on the cost reconciliation report is closest to: Multiple Choice $30.902 $29,662 Assume the following information: Percent Complete Materials Conversion 408 300 Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory Units 200 6,200 5,800 600 1008 203 1008 708 Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials Conversion $ 10,000 $ 15,000 290,000 386,000 $300,000 $401,000 Using the weighted average method, the total cost of the units completed and transferred out that would be reported on the cost reconciliation report is closest to: Multiple Choice 5565770 6970 Assume the following information: Percent Complete Materials Conversion 408 308 Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory Units 200 6,200 5,800 600 100% 28 100% 608 Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials $ 10,000 290,000 $300,000 Conversion $ 15,000 385,000 $400,000 If the cost per equivalent unit for materials is $48.23 using the welghted-average method, then the percent complete with respect to the materials in ending work in process inventory is closest to: Multiple Choice 60% SON Assume a company uses the weight-average method in its process costing. Its Work in Process T-account for the Refining Department for August is: August 1 balance ? Materials Direct labor Overhead August 31 balance Work in Process Refining Department 62,000 Completed and transferred to Finished Goods 310,000 72,000 181,000 The August 1 work in process inventory consisted of 6,000 units with $49,500 in materials cost and $12,500 in conversion cost. The August 1 work in process inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 48,000 units were started into production. The August 31 work in process inventory consisted of 8,000 units that were 100% with respect to materials and 60% complete with respect to conversion The cost per equivalent unit for materials is closest to: Multiple Choice $7.96 56.66 $9.46 Assume the following information: Percent Complete Materials Conversion 408 308 Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory Units 200 6,200 5,800 1008 28 600 1008 608 Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials Conversion $ 10,000 $ 15,000 290,000 385,000 $300,000 $400,000 If the cost per equivalent unit for materials is $47.23 using the FIFO method, then the percent complete with respect to the materials in ending work in process inventory is closest to: Multiple Choice 40% SON