Chapter 5 Class Exercise 1. The system normally used to assign costs to goods that are 2. State University has 1,000 full-time faculty and 500 part-t steps is known as: to goods that are mass-produced in a continuous sequence of a courses per year and a part-time faculty member teaches four equivalent units of faculty? ytime faculty. A full-time faculty member teaches courses per year. What is the number of store to match atures paint. One of its plants makes a light colored base that can be tinted at At the end of the current month, XYZ had 3. XYZCo mpany the retail store to match any color chosen by the customer 5,000 gallons of paint still in process. All of the ingredients to the e vats, but they still needed to be mixed and then poured into gallon contalmer. ely throughout the the production process and conversion costs are i equivalent units of paint ingredients in the ending work in process inventory gallon containers. Each gallon was 75% of the way through Use the following information answer questions 4 throughs and conversions costs are At Davide Corporation, direct materials are added at the beginning of the process uniformly applied. Other details include: WIP beginning(60% for conversion) Units started 114.500 units 111.700 units $22,300 S19.700 Units completed and transferred out WIP ending (30% for conversion WIP direct materials nning WIP conversion costs Costs of materials added Costs of conversion added What are the total equivalent units for direct materials? What are the total equivalent units for conversion costs? What is the cost per equivalent unit for direct materials? What is the cost per equivalent unit for conversion costs? 4. 5. 6. 7. 8. What is the total cost of units completed and transferred out? 9. What is the total cost of units remaining in ending WIP