San Jose Inc uses a FIFO process costing system For this problem, assume the firm has only one department process All direct materials are added at the start of manufacturing, and conversion costs are incurred evenly throughout production The company started 100,000 units during May and had the following WIP inventory at the beginning and end of the month May 1 15,000 units, 25 complete with respect to conversion costs May 31 12,000 units, 50 complete with respect to conversion costs Total equivalent units for May are (i e with respect to direct materials and conversion costs) a Direct Materials 115,000 Conversion Costs 105,250 b Direct Materials 115,000 Conversion Costs 100,000 c Direct Materials 100,000 Conversion Costs 100,000 d Direct Materials 100,000 Conversion Costs 105,250 Olsen Company processes lumber into a product called medium density fiberboard For the month of February, it had 40,000 square feet of medium density fiberboard in process at the beginning of the month Another 180,000 square feet were put into process during February, and 60,000 square feet were still in process at the end of February All raw material is added at the beginning of the process while conversion costs are added uniformly throughout the production process The ending work in process inventory of 60,000 units was 40 complete with respect to conversion costs Using the weighted average method, what are total equivalent units with respect to conversion costs in February a 184,000 square feet b 24,000 square feet c 220,000 square feet d 160,000 square feet San Jose Inc uses a FIFO process costing system For this problem, assume the firm has only one department process All direct materials are added at the start of manufacturing, and conversion costs are incurred evenly throughout production The company started 100,000 units during May and had the following WIP inventory at the beginning and end of the month May 1 15,000 units, 25 complete with respect to conversion costs May 31 12,000 units, 50 complete with respect to conversion costs Total equivalent units for May are (i e with respect to direct materials and conversion costs) a Direct Materials 115,000 Conversion Costs 105,250 b Direct Materials 115,000 Conversion Costs 100,000 c Direct Materials 100,000 Conversion Costs 100,000 d Direct Materials 100,000 Conversion Costs 105,250 Olsen Company processes lumber into a product called medium density fiberboard For the month of February, it had 10,000 square feet of medium density fiberboard in process at the beginning of the month Another 170,000 square feet were put into process during February, and 20,000 square feet were still in process at the end of February These ending WIP units were 60 complete with respect to conversion costs All direct materials are added at the beginning of the process Using the weighted average method, what are total equivalent units with respect to direct materials in February a 190,000 square feet b Cannot be determined from this information c 170,000 square feet d 180,000 square feet Beginning inventory consisted of 10,000 units (20 percent complete with respect to conversion costs) and ending inventory consisted of 20,000 units (40 percent complete with respect to conversion costs) 60,000 units were started during the period What is total equivalent units with respect to conversion costs, using the FIFO method a 58,000 b 66,000 c 68,000 d 56,000 San Jose Inc uses a FIFO process costing system For this problem, the firm has only one department process All direct materials are added at the start of manufacturing, and conversion cost is incurred evenly throughout production The company started 70,000 units during May and had the following WIP inventory at the beginning and end of the month May 1 30,000 units, 50 complete with respect to conversion costs May 31 24,000 units, 25 complete with respect to conversion costs Total equivalent units for May are (i e with respect to direct materials and conversion costs) a Materials 82,000 Conversion Costs 100,000 b Materials 100,000 Conversion Costs 82,000 c Materials 70,000 Conversion Costs 67,000 d Materials 67,000 Conversion Costs 70,000 San Jose Inc uses the FIFO method for its process costing system For this problem assume the firm has only one department process All direct materials are added when units are 40 complete with respect to conversion costs Conversion costs are incurred evenly throughout production The company started 120,000 units during May and had the following WIP inventory at the beginning and end of the month May 1 15,000 units, 25 complete with respect to conversion costs May 31 12,000 units, 50 complete with respect to conversion costs Total equivalent units for May are (i e with respect to direct materials and conversion costs) a Direct Materials 120,000 Conversion Costs 125,250 b Direct Materials 132,000 Conversion Costs 122,250 c Direct Materials 135,000 Conversion Costs 125,250 d Direct Materials 117,000 Conversion Costs 122,250 Beginning inventory consisted of 10,000 units (20 percent complete with respect to conversion costs) and ending inventory consisted of 20,000 units (40 percent complete with respect to conversion costs) In addition, 60,000 units were started during the period What is total equivalent units with respect to conversion costs, using the weighted average method a 50,000 b 56,000 c 70,000 d 58,000

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San Jose Inc. uses a FIFO process costing system. For this problem, assume the firm has only one department/process. All direct materials are added at

San Jose Inc. uses a FIFO process costing system. For this problem, assume the firm has only one department/process. All direct materials are added at the start of manufacturing, and conversion costs are incurred evenly throughout production. The company started 100,000 units during May and had the following WIP inventory at the beginning and end of the month.

May 1 15,000 units, 25% complete with respect to conversion costs

May 31 12,000 units, 50% complete with respect to conversion costs

Total equivalent units for May are (i.e. with respect to direct materials and conversion costs):

	a.	Direct Materials: 115,000; Conversion Costs: 105,250
	b.	Direct Materials: 115,000; Conversion Costs: 100,000
	c.	Direct Materials: 100,000; Conversion Costs: 100,000
	d.	Direct Materials: 100,000; Conversion Costs: 105,250

Olsen Company processes lumber into a product called medium density fiberboard.

For the month of February, it had 40,000 square feet of medium density fiberboard in process at the beginning of the month. Another 180,000 square feet were put into process during February, and 60,000 square feet were still in process at the end of February.

All raw material is added at the beginning of the process while conversion costs are added uniformly throughout the production process. The ending work-in-process inventory of 60,000 units was 40% complete with respect to conversion costs.

Using the weighted average method, what are total equivalent units with respect to conversion costs in February?

a.
184,000 square feet

b.
24,000 square feet

c.
220,000 square feet

d.
160,000 square feet

May 1 15,000 units, 25% complete with respect to conversion costs

May 31 12,000 units, 50% complete with respect to conversion costs

Total equivalent units for May are (i.e. with respect to direct materials and conversion costs):

	a.	Direct Materials: 115,000; Conversion Costs: 105,250
	b.	Direct Materials: 115,000; Conversion Costs: 100,000
	c.	Direct Materials: 100,000; Conversion Costs: 100,000
	d.	Direct Materials: 100,000; Conversion Costs: 105,250

Olsen Company processes lumber into a product called medium density fiberboard.

For the month of February, it had 10,000 square feet of medium density fiberboard in process at the beginning of the month. Another 170,000 square feet were put into process during February, and 20,000 square feet were still in process at the end of February. These ending WIP units were 60% complete with respect to conversion costs.

All direct materials are added at the beginning of the process. Using the weighted average method, what are total equivalent units with respect to direct materials in February?

a.
190,000 square feet

b.
Cannot be determined from this information.

c.
170,000 square feet

d.
180,000 square feet
Beginning inventory consisted of 10,000 units (20 percent complete with respect to conversion costs) and ending inventory consisted of 20,000 units (40 percent complete with respect to conversion costs). 60,000 units were started during the period.

What is total equivalent units with respect to conversion costs, using the FIFO method?

a.
58,000

b.
66,000

c.
68,000

d.
56,000

San Jose Inc. uses a FIFO process costing system. For this problem, the firm has only one department/process. All direct materials are added at the start of manufacturing, and conversion cost is incurred evenly throughout production. The company started 70,000 units during May and had the following WIP inventory at the beginning and end of the month.

May 1 30,000 units, 50% complete with respect to conversion costs

May 31 24,000 units, 25% complete with respect to conversion costs

Total equivalent units for May are (i.e. with respect to direct materials and conversion costs):

	a.	Materials: 82,000; Conversion Costs: 100,000
	b.	Materials: 100,000; Conversion Costs: 82,000
	c.	Materials: 70,000; Conversion Costs: 67,000
	d.	Materials: 67,000; Conversion Costs: 70,000

San Jose Inc. uses the FIFO method for its process costing system. For this problem assume the firm has only one department/process. All direct materials are added when units are 40% complete with respect to conversion costs. Conversion costs are incurred evenly throughout production. The company started 120,000 units during May and had the following WIP inventory at the beginning and end of the month.

May 1 15,000 units, 25% complete with respect to conversion costs

May 31 12,000 units, 50% complete with respect to conversion costs

Total equivalent units for May are (i.e. with respect to direct materials and conversion costs):

	a.	Direct Materials: 120,000; Conversion Costs: 125,250
	b.	Direct Materials: 132,000; Conversion Costs: 122,250
	c.	Direct Materials: 135,000; Conversion Costs: 125,250
	d.	Direct Materials: 117,000; Conversion Costs: 122,250

Beginning inventory consisted of 10,000 units (20 percent complete with respect to conversion costs) and ending inventory consisted of 20,000 units (40 percent complete with respect to conversion costs). In addition, 60,000 units were started during the period.

What is total equivalent units with respect to conversion costs, using the weighted average method?

a.
50,000

b.
56,000

c.
70,000

d.
58,000