PART 1:

Under Pick Co.'s job order costing system, manufacturing overhead is applied to Work-in-Process using a predetermined annual overhead rate. During January, Pick's transactions included the following:

Direct materials issued to production	$ 120,000
Indirect materials issued to production	11,000
Manufacturing overhead incurred	170,000
Manufacturing overhead applied	158,000
Direct labor costs	144,500

Pick had neither beginning nor ending inventory in Work-in-Process Inventory. What was the cost of jobs completed in January? (CPA adapted)

$434,500.

$411,500.

$422,500.

$445,500

PART 2:

ABC Company has a beginning Work-in-Process Inventory of 32,000 units (40% complete). During the period, 180,000 units were started and the ending Work-in-Process Inventory consisted of 27,000 units (80% complete). What are the equivalent units for conversion costs using weighted-average process costing?

206,600 units.

185,000 units.

180,000 units.

188,800 units.

PART 3:

The Finishing Department had 7,000 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to materials and 30% complete as to conversion costs. 21,000 units were received from the previous department. The ending Work-in-Process Inventory consisted of 2,750 units which were 50% complete as to materials and 30% complete as to conversion costs. The Finishing Department uses first-in, first-out (FIFO) process costing.

How many units were transferred-out during the period?

25,250 units.

18,250 units.

16,750 units.

28,000 units.