Exam 2

QUESTION 1 During January, the production department of a process operations system completed and transferred to finished goods a total of 78,000 units. At the end of January 9,000 additional units were in process in the production department and were 65% complete with respect to conversion. The beginning inventory included conversion cost of $37,100 and the production department incurred conversion costs of $294,300 during January. Compute the cost per equivalent unit for conversion for the department using the weighted average method O $3.95 O $3.51 W $6.34. $3.77 O $4.25 QUESTION 2 Compute the conversion cout per equivalent unit for the Production department using the weighted average method Units Direct Materials Percent Complete Conversion Percent Complete Beginning work in process inventory 37.000 100% 40% Units started and completed 100,000 Units completed and transferred out 146,000 Ending work in process inventory 19.000 100% GON Production cost information for the Production department follows Beginning work in process Direct materials $112.500 Conversion 126,000 $238,500 Costs added this period Direct materials $ 272,000 Conversion 382.650 5654650 5344 52.48 $90 $290 $1.74 QUESTION 3 Bryant Manufacturing produces its product in two sequential processing departments. During October, the first process finished and transferred 300,000 units of its product to the second process. Of these units, 60,000 were in process at the beginning of the month and 240,000 were started and completed during the month. At month-end, 40,000 units were in process. Using the FIFO method, compute the number of equivalent units of production for direct materials for the first process for October assuming that beginning work in process inventory is 30% complete for direct materials cost and ending inventory is 80% complete for direct materials cost. O 266,000 O 290,000 O 350,000 O 374,000 O 314,000