Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In June, one of the processing departments et Furbush Corporation had ending work in process inventory of $13,000. During the month, $414,000 of costs were

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
In June, one of the processing departments et Furbush Corporation had ending work in process inventory of $13,000. During the month, $414,000 of costs were added to production and the cost of units transferred out from the department was $436,000. In the department's cost reconciliation report for January, the cost of beginning work in process inventory for the department would be: Multiple Choice $35,000 $423,000 $9,000 $401.000 Paceheco Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January. Percent Complete with Respect to Conversion 70% Beginning work in process inventory Transferred in from the prior department during January Completed and transferred to the next department during January Ending work in process inventory Units 5,300 59,200 57,000 7,500 408 The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $34,758 and a total of $559,454 In conversion costs were incurred in the department during January. The cost per equivalent unit for conversion costs for January in the Molding Department is closest to: Multiple Choice $9.511 $9.904 completed and transerte to the next department during January Ending work in process inventory 7,500 400 The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $34,758 and a total of $559,454 in conversion costs were incurred in the department during January. The cost per equivalent unit for conversion costs for January in the Molding Department is closest to Multiple Choice $9.511 $9.904 $9.712 $8.467 In August, one of the processing departments et Tsuzuki Corporation had beginning work in process inventory of $26,000 and ending work in process Inventory of $15,000, During the month, $303,000 of costs were added to production In the department's cost reconciliation report for August, the total cost to be accounted for would be: Multiple Choice $41.000 $329,000 $632,000 $658,000 Saado Corporation uses the weighted-average method in its process costing system. The Fitting Department is the second department in its production process. The data below summarize the department's operations in March. Percent Complete with Respect to Conversion 200 Beginning work in process inventory Transferred in from the prior department during March Ending work in process inventory Units 6,700 62,000 10,200 608 The Fitting Department's cost per equivalent unit for conversion cost for March was $6.14. How much conversion cost was assigned to the units transferred out of the Fitting Department during March? Multiple Choice $359,190 $421,818 $328,024 ZUS beginning work in process inventory Transferred in from the prior department during March Ending work in process inventory O, IVU 62,000 10,200 608 The Fitting Department's cost per equivalent unit for conversion cost for March was $6.14. How much conversion cost was assigned to the units transferred out of the Fitting Department during March? Multiple Choice $359,190 $421,818 $328,024 $380,680 Inacio Corporation uses the weighted-average 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 Conversion costs 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 Materials costs added during the month Conversion costs added during the month Ending work in process inventory Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion 2,500 $ 14,600 $ 6,700 758 200 11,200 10,100 $ 173,700 $ 243,700 3,600 900 300 The cost per equivalent unit for materials for the month in the first processing department is closest to: Multiple Choice $11.57 unats an engang WOEK in proces inventory Percent complete with respect to materials Percent complete with respect to conversion 3, OVU 900 30 The cost per equivalent unit for materials for the month in the first processing department is closest to: Multiple Choice $11.57 $12.51 $11.26 $1412 O Arona Corporation manufactures canoes in two departments, Fabrication and Waterproofing. In the Fabrication Department, fiberglass panels are attached to a canoe-shaped aluminum frame. The canoes are then transferred to the Waterproofing department to be coated with sealant. Arona uses a weighted average process cost system to collect costs in both departments. All materials in the Fabrication Department are added at the beginning of the production process. On July 1, the Fabrication Department had 30 canoes in process that were 20% complete with respect to conversion cost. On July 31, Fabrication had 20 canoes in process that were 40% complete with respect to conversion cost. During July, the Fabrication Department completed 89 cances and transferred them to the Waterproofing Department What are the Fabrication Department's equivalent units of production related to materials for July? Multiple Choice 97 81 119 109 Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,600 units. The costs and percentage completion of these units in beginning inventory were: Percent Complete 608 558 Cost $ 7,200 $10,500 Materials costs Conversion costs A total of 10,800 units were started and 9,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Materials coats Conversion costs $ 97,000 $171,200 rsion costs. The ending inventory was 85% complete with respect to materials and 70% complete with respect to com How many units are in ending work in process inventory in the first processing department at the end of the month? Multiple Choice 4,300 materials CONC Conversion costs YI, UUU $171,200 The ending Inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs. How many units are in ending work in process inventory in the first processing department at the end of the month? Multiple Choice 4,300 1.900 o 8.200 1700 Raider Corporation uses the weighted average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January Percent Complete with Respect to Conversion 100 Beginning work in process inventory Transferred in from the prior department during January Completed and transferred to the next department during January Ending work in process inventory Units 9,700 84,000 83,800 9,900 808 The Molding Department's cost per equivalent unit for conversion cost for January was $3.39. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January? Multiple Choice $22,126.70 $33,561.00 63,8V 9,900 compieces and transcer to the next gepartment uuring January Ending work in process inventory B08 The Molding Department's cost per equivalent unit for conversion cost for January was $3.39. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January? Multiple Choice $22,126.70 $33,56100 $26,848.80 $6,712.20

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISE Managerial Accounting For Managers

Authors: Eric Noreen, Peter C. Brewer, Ray H. Garrison

5th Edition

1260570010, 9781260570014

More Books

Students also viewed these Accounting questions

Question

Customers have to repeat information they have already provided.

Answered: 1 week ago