| $239,400 A department had 2,500 units which were 40% complete in beginning Goods in Process Inventory. During the current period, 26,000 units were transferred out. Ending Goods in Process Inventory was 2,700 units which were 40% complete. Using the FIFO method, what are the equivalent units produced if all direct material and direct labor are added uniformly throughout the process? | 27,080 | | 28,580 | | 26,080 | | 25,960 | | 28,700 A company's beginning work in process inventory consisted of 33,000 units that were 1/5 complete with respect to direct labor. These beginning units were completed and another 155,000 units were started during the current period. Of those started, 89,000 were finished and the remaining 66,000 were 1/4 complete at the end of the period. The equivalent units of production using weighted-average were: | 117,600. | | 115,400. | | 137,400. | | 138,500. | | 89,000. | At the beginning of the recent period, there were 970 units of product in a department, one-third completed. These units were finished and an additional 5,000 units were started and completed during the period. 600 units were still in process at the end of the period, one-fourth completed. The weighted average equivalent units produced by the department were: | | 5,000 units. | | 5,900 units. | | 7,370 units. | | 6,700 units. | | 6,120 units. A company uses a process cost accounting system and the FIFO inventory valuation method. Its Assembly Department's beginning inventory consisted of 53,000 units, 3/4 complete with respect to direct labor and overhead. The department started and finished 130,500 units this period. The ending inventory consists of 43,000 units that are 1/4 complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. Goods in Process included direct labor costs of $27,000 and overhead costs of $35,000 for the period. The direct labor cost per equivalent unit is: rev: 01_10_2013 | $0.227 | | $0.175 | | $0.186 | | $0.401 | | $0.137 During a period, Department A finished and transferred 61,000 units to Department B. Of the 61,000 units, 24,000 were 2/5 complete with respect to direct labor at the beginning of the period and 37,000 were started and completed during the period. Also, during the period, 21,000 units were started but brought only to a stage of being 4/5 completed. Using the Weighted Average inventory valuation method, the number of equivalent units of labor added by the end of the period was: | 65,200 units. | | 65,800 units. | | 77,800 units. | | 61,000 units. | | 56,800 units. Which of the following journal entries correctly records the current month's activity where $75,000 of direct material and $32,000 of indirect materials were used in the production process? | (A) | Raw Materials Inventory | 107,000 | | | Goods in Process Inventory | | 75,000 | | Factory Overhead | | 32,000 | | | | | | (B) | Goods in Process | 107,000 | | | Raw Materials Inventory | | 107,000 | | | | | | (C) | Goods in Process | 32,000 | | | Factory Overhead | 75,000 | | | Cash | | 107,000 | | | | | | (D) | Goods in Process | 75,000 | | | Factory Overhead | 32,000 | | | Raw Materials Inventory | | 107,000 | | | | | | (E) | Raw Materials Inventory | 107,000 | | | Cash | | 107,000 | | C Above. | | D Above. | | E Above. | | A Above. | | B Above. A department had 1,100 units which were 30% complete in beginning Goods in Process Inventory. During the current period, 12,000 units were transferred out. Ending Goods in Process Inventory was 1,300 units which were 30% complete. Using the Weighted Average method, what are the equivalent units produced if all direct material and direct labor are added uniformly throughout the process? | 12,390 | | 13,160 | | 11,970 | | 12,060 | | 13,300 | A company uses a process cost accounting system. Its Sewing Department's beginning inventory consisted of 68,000 units (1/4 complete with respect to direct labor and overhead). The Sewing Department started and finished 138,000 units this period. Its ending inventory consists of 58,000 units (1/4 complete with respect to direct labor and overhead). All direct materials are added at the beginning of the process. Under FIFO what are the equivalent units of production for the Sewing Department for direct materials and for direct labor and overhead, respectively? | | 264,000; 220,500 | | 203,500; 203,500 | | 264,000; 138,000 | | 196,000; 198,500 | | 196,000; 203,500 Hou Company applies factory overhead to its production departments on the basis of 85% of direct labor costs. In the Assembly Department, Hou had $150,000 of direct labor cost, and in the Finishing Department, Hou had $35,000 of direct labor cost. The entry to apply overhead to these production departments is: | | | | | | | | |
