Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Questions 13 to 16 are based on the following information: Gandalf Corp. manufactures a product that goes through two production processes. Product quantity information for
Questions 13 to 16 are based on the following information: Gandalf Corp. manufactures a product that goes through two production processes. Product quantity information for the first department for the most recent month is as follows: Percentage Complete Direct Material conversion Costs 75% SOX Work in process, 1 units started into production in July Units completed and transferred out Work in proces, My 30 Physical Units 6,000 40.000 41.000 5.000 100% 100% SON Question 13) Using a Weighted Average Costing Method, how many equivalent units of Direct Materials should be accounted for! A) 43 500 equivalent units B) 45.000 equivalent units C) 48,000 equivalent units D) 42.500 equivalent units E) 43.000 equivalent units Question 14) Using a Weighted Average Costing Method, how many equivalent units of Conversion Costs should be accounted for? A) 45,250 equivalent units B) 44.750 equivalent units C) 47,750 equivalent units D) 44,000 equivalent units E) 42.250 equivalent units Question 15) Using a First-in, First-out (FIFO) Costing Method, how many equivalent units of Direct Materials should be accounted for A) 42.000 equivalent units B) 45.000 equivalent units C) 39,000 equivalent units D) 44.000 equivalent units E) 43.500 equivalent units Question 16) Using a First-in, First-out (FIFO) Costing Method, how many equivalent units of Conversion Costs should be accounted for? A) 46,750 equivalent units B) 45.250 equivalent units C) 41.750 equivalent units D) 39.250 equivalent units E) 42.250 equivalent units
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started