Question
Please help on the four MC questions below. Please show work/explain how you got the solution. The Wisco Company has a process cost system. All
Please help on the four MC questions below. Please show work/explain how you got the solution.
The Wisco Company has a process cost system. All materials are added when the process is first begun. At the beginning of September, there were no units of product in process. During September 51,500 units were started; 5,150 of these were still in process at the end of September and were 60% finished. The equivalent units of material in September were: |
a 46,350. b 41,200. c 49,440. d 51,500.
The WISCO Company uses a weighted-average process costing system. The following data are available: |
Beginning inventory | 0 | |
Units started in production | 64,000 | |
Units finished during the period | 38,000 | |
Units in process at the end of the period (Complete as to materials, 1/4 complete as to labor and overhead) | 26,000 | |
Cost of materials used | $ | 272,000 |
Labor and overhead costs | $ | 222,500 |
Total cost of the 26,000 units of the ending inventory is: |
a$338,342. b$143,000. c$240,500. d$180,375.
The Blue Corporation started and completed 6,000 units during February. Blue started the month with 820 units in process (40% complete) and ended the month with 480 units in process (40% complete). How many units were transferred to the Finished Goods Inventory during February? |
a 6,820 units. b 6,340 units. c 6,684 units. d 5,520 units.
Yarn Co.'s inventories in process were at the following stages of completion at April 30: |
No.of Units | Percent Complete |
300 | 90 |
150 | 80 |
600 | 10 |
Equivalent units of production in ending inventory amounted to: |
a 1,050. b 990. c 450. d 380.
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