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Use the following information to answer questions 2 through 7: At Mixing Department, all materials are added at the beginning of the process. Labor and
Use the following information to answer questions 2 through 7: At Mixing Department, all materials are added at the beginning of the process. Labor and overhead (conversion resources) are added evenly 6. Using the FIFO method, what is the conversion cost per equivalent unit? throughout the process. The following information pertains to the Mixing Department for the month of August. a. $7.90 b. $8.30 c. $8.60 d. $9.10 7. Using the FIFO method, what is the cost assigned to the ending work-in-process inventory? a. $8,280 b. $8,680 2. How many units were completed and transferred out? c. $9,140 a. 4,100 units d. $10,260 b. 5,300 units c. 5,900 units d. 6,200 units 3. Using the weighted-average method, what is the conversion cost per equivalent unit? a. $8.50 b. $8.10 c. $7.90 d. $7.50 4. Using the weighted average method, what is the cost assigned to the ending work-in-process inventory? a. $5,780 b. 56,960 c. 57,640 d. 58,280 5. Using the FIFO method, what is the number of equivalent units for conversion? a. 4,800 b. 5,400 c. 5,600 d. 6,000
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