1. Assume the following information:

Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory30045%30%Units started into production during March6,000Units completed during March and transferred to

the next department5,800100%100%Ending work in process inventory50060%40%

Using the weighted-average method, what is the equivalent units of production for materials?

Multiple Choice

• 6,300 units
• 5,965 units
• 6,000 units
• 6,100 units

2.Assume the following information:

Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory30045%30%Units started into production during March6,000Units completed during March and transferred to

the next department5,800100%100%Ending work in process inventory50060%40%

Using the FIFO method, what is the equivalent units of production for conversion?

Multiple Choice

• 5,910 units
• 5,965 units
• 5,935 units
• 6,100 units

3.Assume the following information:

Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory30045%30%Units started into production during March6,000Units completed during March and transferred to

the next department5,800100%100%Ending work in process inventory500?%40%

If the equivalent units of production for materials is 6,100 using the weighted-average method, then what is the ending work in process inventory percent complete with respect to materials?

Multiple Choice

• 60%
• 40%
• 30%
• 25%

4.Assume the following information:

Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory30045%30%Units started into production during March6,000Units completed during March and transferred to

the next department?100%100%Ending work in process inventory50060%40%

If the equivalent units of production for materials is 6,100 using the weighted-average method, then how many units were completed during March and transferred to the next department?

Multiple Choice

• 6,000 units
• 6,200 units
• 5,600 units
• 5,800 units

5.Assume the following information for the Milling Department:

Milling DepartmentUnitsBeginning work in process inventory300Units started into production during March6,000Units completed during the period and transferred to the next

department5,800Ending work in process inventory500

Using the FIFO method, how many units were started and completed during the period?

Multiple Choice

• 6,300 units
• 5,500 units
• 5,800 units
• 5,300 units

6.Assume the following information appears in the Milling Department's cost reconciliation report:

Milling DepartmentMaterialsCost of ending work in process inventory$20,000Costs added to production during the period$650,000Cost of the units transferred out$645,000

What is the cost of the units in the Milling Department's beginning work in process inventory?

Garrison 17e Rechecks 2020-06-25

Multiple Choice

• $5,000
• $35,000
• $15,000
• $25,000

7.Assume the following information:

Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory20040%30%Units started into production during March6,200Units completed during the period and transferred to

the next department5,800100%100%Ending work in process inventory600?%60%

Milling DepartmentMaterialsConversionCost of beginning work in process inventory$10,000$15,000Costs added during the period290,000385,000Total cost$300,000$400,000

If the equivalent units of production for materials is 6,220 units using the weighted-average method, then what is the percent complete for the materials in ending work in process inventory?

Multiple Choice

• 40%
• 50%
• 60%
• 70%

8.Assume a company provided the following information:

Service DepartmentsOperating DepartmentsCafeteriaJanitorialLabTechDepartmental costs$200,000$140,000$2,320,000$950,000Number of employees10204060Square feet of space occupied3,0002,00011,0009,000

If the company (1) uses the step-down method (beginning with the Cafeteria) to allocate service department costs to operating departments, (2) allocates Cafeteria costs based on the number of employees, and (3) allocates Janitorial costs based on square feet of space of occupied, then the total service department costs allocated to the Lab Department is closest to:

Multiple Choice

• $168,000.
• $162,000.
• $158,000.
• $172,000.

9.Assume the following information:

Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory20040%30%Units started into production during March6,200Units completed during the period and transferred to

the next department5,800100%100%Ending work in process inventory60070%60%

Milling DepartmentMaterialsConversionCost of beginning work in process inventory$10,000$15,000Costs added during the period290,000385,000Total cost$300,000$400,000

Using the FIFO method, what is the equivalent units of production for conversion?

Multiple Choice

• 5,900 units
• 6,200 units
• 6,300 units
• 6,100 units

10.Assume the following information:

Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory20040%30%Units started into production during March6,200Units completed during the period and transferred to

the next department5,800100%100%Ending work in process inventory60070%?%

Milling DepartmentMaterialsConversionCost of beginning work in process inventory$10,000$15,000Costs added during the period290,000385,000Total cost$300,000$400,000

If the equivalent units of production for conversion is 6,100 units using the FIFO method, then what is the percent complete for the ending work in process inventory with respect to conversion?

Multiple Choice

• 70%
• 60%
• 50%
• 40%

11.Assume the following information:

Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory20040%30%Units started into production during March6,200Units completed during the period and transferred to

the next department5,800100%100%Ending work in process inventory60070%60%

Milling DepartmentMaterialsConversionCost of beginning work in process inventory$10,000$15,000Costs added during the period290,000385,000Total cost$300,000$400,000

Using the FIFO method, the cost per equivalent unit for materials is closest to:

Garrison 17e Rechecks 2020-06-25

Multiple Choice

• $48.86.
• $46.15.
• $49.93.
• $47.23.

12.Assume the following information:

Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory20040%30%Units started into production during March6,200Units completed during the period and transferred to

the next department?100%100%Ending work in process inventory60070%60%

Milling DepartmentMaterialsConversionCost of beginning work in process inventory$10,000$15,000Costs added during the period290,000385,000Total cost$300,000$400,000

If the cost per equivalent unit for materials is $47.23 using the FIFO method, then the number of units completed during the period and transferred to the next department is closest to:

Garrison 17e Rechecks 2020-06-25

Multiple Choice

• 5,400 units.
• 5,800 units.
• 5,200 units.
• 5,600 units.

13.Assume the following information:

Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory20040%30%Units started into production during March6,200Units completed during the period and transferred to

the next department5,800100%100%Ending work in process inventory60070%60%

Milling DepartmentMaterialsConversionCost of beginning work in process inventory$10,000$15,000Costs added during the period290,000385,000Total cost$300,000$400,000

Using the FIFO method, the total cost of the units completed during the period and transferred out to the next department with respect to materials is closest to:

Multiple Choice

• $280,156.
• $278,943.
• $277,654.
• $283,388.

14.Assume a company uses the FIFO method in its process costing. Its Work in Process T-account for the Refining Department for August is:

Work in Process: Refining DepartmentAugust 1 balance62,000Completed and transferred

to Finished Goods?Materials495,000Direct labor72,000Overhead181,000August 31 balance?

The August 1 work in process inventory consisted of 6,000 units with $40,000 in materials cost and $22,000 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.

What is the equivalent units of production for conversion?

Multiple Choice

• 46,400 units
• 48,400 units
• 44,800 units
• 46,800 units

15.Assume a company uses the FIFO method in its process costing. Its Work in Process T-account for the Refining Department for August is:

Work in Process: Refining DepartmentAugust 1 balance62,000Completed and transferred

to Finished Goods?Materials495,000Direct labor72,000Overhead181,000August 31 balance?

The August 1 work in process inventory consisted of 6,000 units with $40,000 in materials cost and $22,000 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.

What is the cost per equivalent unit for conversion?

Multiple Choice

• $5.75
• $5.35
• $5.23
• $4.73