Exam 5: Cost Behavior: Analysis and Use

Harker Company uses the weighted-average method in its process costing system.The first processing department,the Welding Department,started the month with 16,000 units in its beginning work in process inventory that were 40% complete with respect to conversion costs.The conversion cost in this beginning work in process inventory was $29,440.An additional 59,000 units were started into production during the month and 61,000 units were completed in the Welding Department and transferred to the next processing department.There were 14,000 units in the ending work in process inventory of the Welding Department that were 10% complete with respect to conversion costs.A total of $246,431 in conversion costs was incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for the month? (Round your answer to three decimal places. )

The following data were taken from the accounting records of the Hazel Corporation which uses the weighted-average method in its process costing system: The equivalent units of production for conversion costs were?

Carver Inc.uses the weighted-average method in its process costing system.The following data concern the operations of the company's first processing department for a recent month.

What amount below was the total cost of units completed during May closest to? (Round intermediate calculations to the nearest whole cent and final answer to the nearest whole dollar)

Using the FIFO method,the equivalent unit cost of materials is? Round your answers to the nearest whole cent)

The cost of the units transferred to the Finishing Department during May was?

Huffer Company uses the weighted-average method in its process costing system.The following information pertains to Processing Department D for the month of May: All materials are added at the beginning of the process.The cost per equivalent unit for materials is ? (Round your answer to the nearest whole cent)

Assuming that the company uses the weighted-average cost method,what are the equivalent units of production for conversion costs for the Blending Department for the month?

If the costs for direct labour,factory overhead and direct material were $873,600,$109,200 and $53,200 respectively for 28,000 equivalent units of production,the conversion cost per equivalent unit was $35.10.

The equivalent units of production for labour and overhead for the month,using the weighted-average method,are?

In a process cost system,transferred-in costs represent?

Assuming that the company uses the weighted-average cost method,what is the cost per equivalent unit for material costs for the month in the Blending Department? (Round your answer to the nearest cent)

The Hardy Company manufactures a product that goes through two departments prior to completion.The following information is available on work in one of these departments,the Molding Department,during the month of July:

Assuming that Jimbob Co.uses the FIFO method,the equivalent units of production for conversion costs would be?

Assuming that there was no beginning work in process inventory,and the ending work in process inventory is 50% complete with respect to conversion costs,the number of equivalent units of production with respect to conversion costs under the weighted-average method would be?

The total cost assigned to ending work in process inventory was? (Do not round intermediate calculations)

Glo Co. ,a manufacturer of combs,uses the weighted-average method in its process costing system.The company sold 125,000 units during the month of April.There is only one processing department.The following additional information is provided: What were the equivalent units of production for conversion costs for April?

Sarver Company uses the weighted-average method in its process costing system.The Fitting Department is the second department in its production process.The data below summarize the department's operations in March. The Fitting Department's production report indicates that the cost per equivalent unit for conversion cost for March was $8.24. How much conversion cost was assigned to the units transferred out of the Fitting Department during March?

What was the material cost per equivalent unit for May? (Round your intermediate and final answers to the nearest whole cent)

When computing the cost per equivalent unit,it is not necessary to consider the percentage completion of the units in beginning inventory under the weighted-average method.