Plastic Queen Manufacturing Company produces a plastic toy in a two-stage molding and finishing

operation. The company uses the weighted average method of process costing. During June, the

following data were recorded for the Finishing Department.

Units of beginning Work in Process Inventory

10,000

Percentage of completion of Beg Inventory

25%

Cost of direct materials in beg WIP

P0

Units started

70,000

Units Completed

50,000

Units in ending WIP Inventory

20,000

Percentage of completion of Ending Inventory

95%

Spoiled Units

10,000

Costs added during the current period:

Direct Materials

P655,200

Direct Labor

P635,600

Manufacturing Overhead

P616,000

WIP, Beg:

Transferred In Costs

P82,900

Conversion Costs

P42,000

Costs if units transferred in during current period P647,500Conversion costs are incurred evenly during the process. Direct materials costs are incurred when

production is 90% complete. The inspection point is at 80% stage of production. Normal spoilage is 10% of

all good units that pass inspection.

31. What are the equivalent units of production for direct materials and conversion costs?

a. 70,000 and 77,000

b. 50,000 and 69,000

c. 60,000 and 77,000

d. 70,000 and 75,000

32. What is the cost of normal lost units?

a. P157,990

b. P150,950

c. P155,990

d. P145,500

33. What is the cost of units completed and transferred out?

a. P1,877,350

b. P1,864,500

c. P1,787,350

d. P1,770,500

34. What is the cost assigned to units in ending work in process?

a. P734,140

b. P750,150

c. P835,140

d. P689,000

35. What is the cost assigned to abnormal lost units?

a. P67,710

b. P77,600

c. P87,610

d. P97,710