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Jared Beverage Corporation uses a process costing system to collect costs related to the production of its celery flavored cola. The cola is first processed
Jared Beverage Corporation uses a process costing system to collect costs related to the production of its celery flavored cola. The cola is first processed in a Mixing Department and is then transferred out and finished up in the Bottling Department. The finished cases of cola are then transferred to Finished Goods Inventory. The following information relates to the company's two departments for the month of January: Mixing 10,000 65,000 Bottling 5,000 Cases of cola in work in process, January 1 Cases of cola completed/transferred out during January Cases of cola in work in process, January 31 4,000 7,000 How many cases of cola were completed and transferred to Finished Goods Inventory during January? Multiple Choice 63,000 70,000 C 58,000 77,000 Tript Corporation has a process costing system and uses the weighted-average method. The company had 3,000 units in work in process on February 1 that were 60% complete with respect to conversion costs. During the month, 10,000 units were completed. At the end of the month, 4.000 units remained in work in process that were 40% complete with respect to conversion costs. Materials are added at the beginning of the process. How many units were started into production during February? Multiple Choice Fuller Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were: Percent Cost Complete Materials costs $12,700 85% Conversion costs $ 10,900 30% A total of 9,800 units were started and 8.800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $175,600 Conversion costs $420,900 The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs. The total cost transferred from the first processing department to the next processing department during the month is closest to: (Round "Cost per equivalent unit" to 3 decimal places.) Multiple Choice $620,100 oooo $542,106
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