Q1 Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory		1,900
Materials costs	$	14,000
Conversion costs	$	6,100
Percent complete with respect to materials		75	%
Percent complete with respect to conversion		20	%
Units started into production during the month		10,600
Units transferred to the next department during the month		9,500
Materials costs added during the month	$	173,100
Conversion costs added during the month	$	243,100
Ending work in process inventory:
Units in ending work in process inventory		3,000
Percent complete with respect to materials		90	%
Percent complete with respect to conversion		30	%

The cost per equivalent unit for materials for the month in the first processing department is closest to:

Multiple Choice

• $13.49

• $14.43

• $13.18

• $15.34

Q2 Arona Corporation manufactures canoes in two departments, Fabrication and Waterproofing. In the Fabrication Department, fiberglass panels are attached to a canoe- shaped aluminum frame. The canoes are then transferred to the Waterproofing department to be coated with sealant. Arona uses a weighted-average process cost system to collect costs in both departments.

All materials in the Fabrication Department are added at the beginning of the production process. On July 1, the Fabrication Department had 30 canoes in process that were 20% complete with respect to conversion cost. On July 31, Fabrication had 20 canoes in process that were 40% complete with respect to conversion cost. During July, the Fabrication Department completed 78 canoes and transferred them to the Waterproofing Department.

What are the Fabrication Department's equivalent units of production related to conversion costs for July?

Multiple Choice

• 70

• 86

• 108

• 98

Q3 Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory		2,300
Materials costs	$	8,700
Conversion costs	$	4,000
Percent complete with respect to materials		55	%
Percent complete with respect to conversion		25	%
Units started into production during the month		8,200
Units transferred to the next department during the month		7,400
Materials costs added during the month	$	111,800
Conversion costs added during the month	$	84,900
Ending work in process inventory:
Units in ending work in process inventory		3,100
Percent complete with respect to materials		70	%
Percent complete with respect to conversion		55	%

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.)

Garrison 16e Rechecks 2017-08-28

Garrison 16e Rechecks 2019-08-02

Multiple Choice

• $187,317

• $178,017

• $165,427

• $203,007

Q4 Tabet Corporation uses the FIFO method in its process costing system. Operating data for the Curing Department for the month of March appear below:

	Units	Percent Complete with Respect to Conversion
Beginning work in process inventory	6,400	70	%
Transferred in from the prior department during March	57,700
Completed and transferred to the next department during March	59,400
Ending work in process inventory	4,700	90	%

According to the companys records, the conversion cost in beginning work in process inventory was $21,049 at the beginning of March. The cost per equivalent unit for conversion costs for March was $5.70. How much conversion cost would be assigned to the units completed and transferred out of the department during March?

Multiple Choice

• $313,044

• $334,093

• $322,100

• $333,694