Question
Holcomb Company uses the weighted-average method in its process costing system. The Shaping Department is the second department in its production process. The data below
Holcomb Company uses the weighted-average method in its process costing system. The Shaping Department is the second department in its production process. The data below summarize the department's operations in January.
Units | Percent Complete with Respect to Conversion | ||||||
Beginning work-in-process inventory | 7,800 | 90 | % | ||||
Transferred in from the prior department during January | 58,000 | ||||||
Completed and transferred to the next department during January | 55,300 | ||||||
Ending work-in-process inventory | 10,500 | 30 | % | ||||
The accounting records indicate that the conversion cost that had been assigned to beginning work-in-process inventory was $7,096 and a total of $92,668 in conversion costs were incurred in the department during January.
What was the cost per equivalent unit for conversion costs for January in the Shaping Department? (Round your answer to 3 decimal places.)
Multiple Choice
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$1.609.
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$1.707.
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$1.455.
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$1.464.
Bentwood 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 | 1,000 | ||
Materials costs | $ | 19,000 | |
Conversion costs | $ | 11,000 | |
Percent complete with respect to materials | 70 | % | |
Percent complete with respect to conversion | 25 | % | |
Units started into production during the month | 7,500 | ||
Units transferred to the next department during the month | 6,300 | ||
Materials costs added during the month | $ | 149,000 | |
Conversion costs added during the month | $ | 248,300 | |
Ending work-in-process inventory: | |||
Units in ending work-in-process inventory | 2,200 | ||
Percent complete with respect to materials | 80 | % | |
Percent complete with respect to conversion | 35 | % | |
The cost per equivalent unit for conversion costs for the first department for the month is closest to: (Round your answer to 2 decimal places.)
Multiple Choice
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$39.45.
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$44.08.
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$38.00.
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$36.41.
Sarfina Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the month of September appear below:
Units | Percent Complete with Respect to Conversion | ||||||
Beginning work-in-process inventory | 16,400 | 20 | % | ||||
Transferred in from the prior department during September | 92,500 | ||||||
Ending work-in-process inventory | 26,800 | 90 | % | ||||
According to the company's records, the conversion cost in beginning work-in-process inventory was $21,260 at the beginning of September. Additional conversion costs of $530,724 were incurred in the department during the month.
What would be the cost per equivalent unit for conversion costs for September? (Round your answer to 3 decimal places.)
Multiple Choice
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$5.711.
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$5.156.
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$5.043.
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$5.036.
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