Higgins Labs Inc., uses a process costing system. The following data are available for one department for October:

		Percent Complete
	Units	Materials	Conversion
Work in process, beginning	10,000	60%	30%
Work in process, ending	5,000	80%	70%

The department started 45,000 units into production during the month and completed and transferred 50,000 units to the next department. Assuming the weighted-average method is used, the equivalent units for conversion for October would be:

55,000 units

50,000 units

53,500 units

56,500 units

Higgins Labs Inc., uses a process costing system. The following data are available for one department for October:

		Percent Complete
	Units	Materials	Conversion
Work in process, beginning	10,000	60%	30%
Work in process, ending	5,000	80%	70%

The department started 45,000 units into production during the month and completed and transferred 50,000 units to the next department. Assuming the FIFO method is used, the equivalent units for conversion for October would be:

50,500 units

50,000 units

44,500 units

48,000 units

Reid Corporation uses a process costing system in which units go through several departments. In the Cutting Department for June, units in the beginning work in process inventory were 80% complete with respect to conversion costs. Units in the ending work in process inventory were 25% complete with respect to conversion costs. Other data for the department for June are as follows:

	Units	Conversion Cost
Work in process inventory on June 1	15,000	$50,200
Units started into production	145,000
Conversion costs incurred during June		$175,700
Units completed and transferred to the next department during June	130,000

Assuming that the company uses the FIFO cost method, the cost per equivalent unit for conversion costs for June is closest to:

$1.80

$1.40

$1.64

$1.35

Ozogoz Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory	500
Materials costs	$8,900
Conversion costs	$3,900
Percent complete with respect to materials	85%
Percent complete with respect to conversion	30%
Units started into production during the month	9,800
Units transferred to the next department during the month	9,100
Materials costs added during the month	$176,500
Conversion costs added during the month	$223,400
Ending work in process inventory:
Units in ending work in process inventory	1,200
Percent complete with respect to materials	65%
Percent complete with respect to conversion	25%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. What are the equivalent units for conversion costs for the month in the first processing department?

9,250

10,300

300

8,600

14 MC Qu. 40 Higgins Labs Inc., uses a. Higgins Labs Inc, uses a process costing system. The following data are available for one department for October Percent Complete Units Materials 10,000 60% 30% Work In process, beginning Work In process, ending 5,000 80% 70% The department started 45,000 units into production during the month and completed and transferred 50,000 units to the next department. Assuming the weighted-average method is used, the equivalent units for conversion for October would be: 55,000 units 50,000 units 53,500 units O 56.500 units 15. MC Qu. 42 Higgins Labs Inc., uses a process Higgins Labs Inc, uses a process costing system. The following data are available for one department for October Percent Complete Work In process, beginning Work In process, ending Units Materials 10,000 5,000 60% 30% 80% 70% The department started 45,000 units into production during the month and completed and transferred 50,000 units to the next department Assuming the FIFO method is used, the equivalent units for conversion for October would be: 50,500 units 50,000 units O 44,500 units 48,000 units 16 MC Qu. 43 Reid Corporation uses a process Reid Corporation uses a process costing system in which units go through several departments. In the Cutting Department for June, units in the beginning work in process inventory were 80% complete with respect to conversion costs. Units in the ending work in process inventory were 25% complete with respect to conversion costs. Other data for the department for June are as follows Units Conversion Cost Work In process Inventory on June 1 Units started Into production Conversion costs Incurred during June Units completed and transferred to the next department during June130,000 15,000 50,200 45,000 $175,700 Assuming that the company uses the FIFO cost method, the cost per equivalent unit for conversion costs for June is closest to O $1.80 $1.40 O $164 O $1.35 MC Qu. 50 Ozogoz Corporation uses the FIFO Ozogoz Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below Beginning work In process inventory Units in beginning work in process Inventory Materials costs 500 $8,900 $3,900 85% 30% 9,800 9,100 $176,500 $223.400 Percent complete with respect to materials Percent complete with respect to conversion Units started Into production during the month Units transferred to the next department during the month Materlals costs edded during the month Conversion costs added during the month Endlng work i In process Inventory Unlts In ending work In process Inventory Percent complete with respect to materials Percent complete with respect to conversion 1,200 65% 25% Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places What are the equivalent units for conversion costs for the month in the first processing department? 9250 O 10,300 300 O 8600