Question 13 9 pts V&V Manufacturing Corporation uses weighted-average process costing for the month of April, it reports beginning WIP-Assembly Inventory of 700 units. It transfers in 3,000 units from WIP- Preparation, and reports ending WIP-Assembly Inventory of 900 units (80% complete with respect to direct materials, 50% complete with respect to conversion costs). The company reports beginning inventory costs of $100,000 and $150,000 for direct materials and conversion costs, respectively. It reports current period manufacturing costs of $620,000 for direct materials and $710,000 for conversion cost. Using the above information, answer the following questions: A) What are TOTAL equivalent units with respect to direct materials? Select) B) What are TOTAL equivalent units with respect to conversion costs? [ Select) C) What are costs per equivalent unit with respect to direct materials? [Select] Question 12 9 pts Grasso Corporation reported information regarding three jobs for the month of June; the information is as follows: Job Job X1 Job X2 Job 25 Beginning of Month Status In Process In Process In Process End of Month Status Completed, Sold Completed, Not Sold In Process Total Allocated Costs $153,000 $241,000 $78,000 Actual Manufacturing Overhead was $90,000 for the month of June, of which $74,000 had been applied to the three jobs (the total allocated costs above include the applied overhead). Using the above information, answer the following questions: A) If Grasso Corporation allocates over or underapplied overhead directly to Cost of Goods Sold, what is total cost of Goods Sold for the period? Select) B) If Grasso Corporation allocates over or underapplied overhead directly to Cost of Goods Sold, what is the total cost of Goods Manufactured for the period? (Select) C) If Grasso Corporation allocates over or underapplied overhead to the individual jobs proportionally based on the total costs previously allocated to each job, what is the ending balance of the Work in Process Inventory account? Select Question 11 9 pts Twice on Sundays Enterprises uses a predetermined overhead rate to apply overhead and uses direct labor costs as its allocation base. Estimated overhead costs for the period are $600,000, estimated direct labor hours are 100.000, estimated direct labor costs are $750,000. Actual direct labor costs are $800,000, and actual overhead is $610,000. Over or underapplied overhead is allocated to Cost of Goods Sold. Using the above information, answer the following questions: A) To calculate the rate of predetermined overhead, what formula should the company use? [Select] B) How much overhead is initially applied to the Work-in-Process Inventory account? [ Select C) Cost of Goods Manufactured is $1,500,000. The Finished Goods Inventory account has a beginning balance of $100,000 and an ending balance of $120,000. What is Cost of Goods Sold? [Select]
