Exam 5: Cost Behavior: Analysis and Use

The cost of the work in process inventory in the Finishing Department at the end of May was?

What were the equivalent units of production for conversion costs for May?

The Assembly Department started the month with 35,000 units in its beginning work in process inventory.An additional 472,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department.There were 34,000 units in the ending work in process inventory of the Assembly Department.How many units were transferred to the next processing department during the month?

Using the weighted-average method,the total cost of the units in ending work in process inventory is ? (Round your answers to the nearest whole cent)

Harmon Company uses the weighted-average method in its process costing system.The Curing Department of Harmon Company reported the following information for the month of November.

Trapp Company uses the weighted-average method in its process costing system.The beginning work in process inventory in its Painting Department consisted of 3,000 units that were 70% complete with respect to materials and 60% complete with respect to conversion costs.The cost of the beginning work in process inventory in the department was recorded as $10,000.During the period,9,000 units were completed and transferred on to the next department.The costs per equivalent unit for the period were $2.00 for material and $3.00 for conversion costs.The cost of units transferred out during the month was?

The equivalent units of production for labour and overhead for the month of May were?

The Nichols Company uses the weighted-average method in its process costing system.The company recorded 29,500 equivalent units of production for conversion costs for November in a particular department.There were 6,000 units in the ending work in process inventory on November 30,75% complete with respect to conversion costs.The November 1 work in process inventory consisted of 8,000 units,50% complete with respect to conversion costs.A total of 25,000 units were completed and transferred out of the department during the month.The number of units started during November in the department was?

Lucas Company uses the weighted-average method in its process costing system.The company adds materials at the beginning of the process in the Forming Department,which is the first of two stages in its production process.Information concerning operations in the Forming Department in October follows: What was the materials cost of work in process at October 31? (Round intermediate calculations to 2 decimals)

Rariton Company uses the weighted-average method in its process costing system.The Molding Department is the second department in its production process.The data below summarize the department's operations in January. The Molding Department's production report indicates that the cost per equivalent unit for conversion cost for January was $5.37. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January? (Round your answer to one decimal)

If a business wishes to track the costs of completing units in beginning work in process,the first-in-first-out (FIFO)method should be used.

Using the FIFO method,the equivalent units for materials are closest to?

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

Valley Manufacturing Company's beginning work in process inventory consisted of 10,000 units,100% complete with respect to materials cost and 40% complete with respect to conversion costs.The total cost in the beginning inventory was $30,000.During the month,50,000 units were transferred out.The equivalent unit cost was computed to be $2.00 for materials and $3.70 for conversion costs under the weighted-average method.Given this information,the total cost of the units completed and transferred out was?

If a business wishes to track the costs of completing units in beginning work in process,the weighted-average method should be used.

The "Cost to be accounted for" section of the production report for the month will show a total amount equal to?

Miller Company manufactures a product for which materials are added at the beginning of the manufacturing process.A review of the company's inventory and cost records for the most recently completed year revealed the following information:

Using the weighted-average method,the cost per equivalent unit of materials for May is? (Round your answers to the nearest whole cent)

Barker 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.

Using the FIFO method,the total cost of units in ending work in process is ?( Round the per unit value to the nearest cent and do not round other intermediate calculations )