Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
| Beginning work in process inventory: | |||
| Units in beginning work in process inventory | 1,500 | ||
| Materials costs | $ | 13,600 | |
| Conversion costs | $ | 5,700 | |
| Percent complete with respect to materials | 75 | % | |
| Percent complete with respect to conversion | 20 | % | |
| Units started into production during the month | 10,200 | ||
| Units transferred to the next department during the month | 9,100 | ||
| Materials costs added during the month | $ | 172,700 | |
| Conversion costs added during the month | $ | 242,700 | |
| Ending work in process inventory: | |||
| Units in ending work in process inventory | 2,600 | ||
| Percent complete with respect to materials | 90 | % | |
| Percent complete with respect to conversion | 30 | % | |
The cost per equivalent unit for materials for the month in the first processing department is closest to:
Multiple Choice
$14.77
$15.71
$14.46
$16.28
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,700 units. The costs and percentage completion of these units in beginning inventory were:
| Cost | Percent Complete |
||||||
| Materials costs | $ | 6,800 | 50% | ||||
| Conversion costs | $ | 3,000 | 20% | ||||
A total of 8,100 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
| Cost | |||
| Materials costs | $ | 160,000 | |
| Conversion costs | $ | 121,700 | |
The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.
The cost per equivalent unit for materials for the month in the first processing department is closest to:
Multiple Choice
$14.63
$15.40
$17.67
$15.15
Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,600 units. The costs and percentage completion of these units in beginning inventory were:
| Cost | Percent Complete |
||||||
| Materials costs | $ | 7,200 | 60% | ||||
| Conversion costs | $ | 10,500 | 55% | ||||
A total of 10,800 units were started and 9,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
| Materials costs | $ | 97,000 | |
| Conversion costs | $ | 171,200 | |
The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs.
How many units are in ending work in process inventory in the first processing department at the end of the month?
Multiple Choice
4,300
1,900
8,200
1,700
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were:
| Cost | Percent Complete |
||||||
| Materials costs | $ | 6,100 | 65% | ||||
| Conversion costs | $ | 7,200 | 45% | ||||
A total of 7,300 units were started and 6,300 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
| Cost | |||
| Materials costs | $ | 125,900 | |
| Conversion costs | $ | 207,400 | |
The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs.
The cost per equivalent unit for materials for the month in the first processing department is closest to:
Multiple Choice
$16.65
$17.25
$18.33
$15.83
Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
| Beginning work in process inventory: | |||
| Units in beginning work in process inventory | 700 | ||
| Materials costs | $ | 7,100 | |
| Conversion costs | $ | 2,400 | |
| Percent complete with respect to materials | 55 | % | |
| Percent complete with respect to conversion | 25 | % | |
| Units started into production during the month | 6,600 | ||
| Units transferred to the next department during the month | 5,800 | ||
| Materials costs added during the month | $ | 110,200 | |
| Conversion costs added during the month | $ | 83,300 | |
| Ending work in process inventory: | |||
| Units in ending work in process inventory | 1,500 | ||
| Percent complete with respect to materials | 70 | % | |
| Percent complete with respect to conversion | 55 | % | |
The cost of ending work in process inventory in the first processing department according to the company’s cost system is closest to: (Round your intermediate calculations to 3 decimal places.)
Multiple Choice
$24,971
$44,340
$31,427
$28,652
In June, one of the processing departments at Furbush Corporation had ending work in process inventory of $12,100. During the month, $405,000 of costs were added to production and the cost of units transferred out from the department was $427,000.
In the department’s cost reconciliation report for January, the cost of beginning work in process inventory for the department would be:
Multiple Choice
$34,100
$414,900
$9,900
$392,900
Decaprio Inc. produces and sells a single product. The company has provided its contribution format income statement for June.
| Sales (6,000 units) | $ | 330,000 |
| Variable expenses | 210,000 | |
| Contribution margin | 120,000 | |
| Fixed expenses | 87,500 | |
| Net operating income | $ | 32,500 |
If the company sells 6,200 units, its net operating income should be closest to: (Do not round intermediate calculations.)
Brewer 8e Rechecks 2018-06-19
Multiple Choice
$36,500
$32,500
$43,500
$33,583
1. weighted average cost method-Material cost
equivalent units
| particulars | % completed | Cost | equivalent units |
| Transferred | 9,100 | 100% | 9,100 |
| Closing WIP | 2,600 | 90% | 2,340[2,600*60%] |
| Total Equivalent units | 11,440 [9,100+2,340] |
Equivalent units per unit= Total cost during the year+Beginning WIP / equivalent units
=$13,600+$172,700 / 11,440
=$16.28
Answer D
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