Instructions: each student answers ONE question among the following 5 questions. We use the first-come-first-serve basis. As you select a cost item, please clearly state the number corresponding to the item. Then, comment on at least TWO posted answers.

Rubric: correct answers = 6 points. Quality comments = 4 points.

Due dates: 8/2 to post answers, 8/3 to post comments.

Questions (please watch the videos/transcripts) before answer following questions.

Questions 1 through 3 are based on the following information of Adams Plastic Products Company

Adams Plastic Products Company makes a plastic toy using two departments: parts and assembly. The following data pertain to the parts departments transactions in Year 2:

1. The beginning balance in the Work in Process Inventory account was $11,500. This inventory consisted of parts for 1,000 toys. The beginning balances in the Raw Materials Inventory, Production Supplies, and Cash accounts were $123,450, $2,000, and $400,000, respectively.
2. Direct materials costing $100,550 were issued to the parts department. The materials were sufficient to make 5,000 additional toys.
3. Direct labor cost was $93,000, and indirect labor costs were $9,500. All labor costs were paid in cash.
4. The predetermined overhead rate was $0.35 per direct labor dollar.
5. Actual overhead costs other than production supplies and indirect labor for the year were $23,250, which was paid in cash.
6. The parts department completed work for 4,500 toys. The remaining toy parts were 20 percent complete. The completed parts were transferred to the assembly department.
7. All of the production supplies had been used by the end of Year 2.
8. Over- or underapplied overhead was closed to the Cost of Goods Sold account.

Required

Question 1. Determine the number of equivalent units of production. Show your calculation?

Question 2. Determine the product cost per equivalent unit. Show your calculation?

Question 3. Calculate the total cost allocated between the ending work in process inventory and parts transferred to the assembly department. Show your calculation?

Questions 4 through 5 are based on the following information of Jordan Company

Jordan Company had 220 units of product in its work in process inventory at the beginning of the period and started 2,300 additional units during the period. At the end of the period, 740 units were in work in process inventory. The ending work in process inventory was estimated to be 60 percent complete. The cost of work in process inventory at the beginning of the period was $6,660, and $28,479 of product costs was added during the period.

Question 4. Calculate the number of equivalent units of production. Show your calculation?

Question 5. Calculate the product cost per equivalent unit. Show your calculation?