Question

# Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing...

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

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