1. Tomato Company adds material at the start of its production process and has the following information available for March:

Beginning Work in Process (40% complete as to conversion) 7,000 units

Started this period 32,000 units

Ending work in process inventory (25% complete as to conversion) 2,500 units

Transferred out ?

Which statement is true?

1. The units started and complete in March is 29,000
2. The equivalent units of production for materials using FIFO is 32,000
3. The equivalent units of production for materials using average is 32,000
4. The equivalent units of production for conversion cost using average is 34,325

1. Which of the following is true about the weighted average method of process costing?

a. The calculation of EUP must take into consideration the units in both beginning and ending inventory.

b. The cost per EUP will include prior period costs if the department had beginning inventory

c. The most common alternative to the weighted average method is the last-in, first-out method

d. The weighted average method refers to a method of determining which units were sold and which units remain in inventory.