Exam 4: Systems Design: Process Costing

Sala Corporation 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 cost per equivalent unit for conversion cost for March was $2.64. How much conversion cost was assigned to the units transferred out of the Fitting Department during March?

Ivenson 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: Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The cost per equivalent unit for materials for the month in the first processing department is closest 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: The company uses the weighted-average cost method in its process costing system. The ending inventory is 50% complete with respect to conversion costs. Required: a. Compute the equivalent units of production and the cost per equivalent units for materials and for conversion costs. b. Determine the cost transferred to finished goods. c. Determine the amount of cost that should be assigned to the ending work in process inventory.

Guasson Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were: A total of 6,400 units were started and 5,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 85% complete with respect to materials and 50% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to:

The Assembly Department started the month with 59,000 units in its beginning work in process inventory. An additional 274,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 21,000 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?

Allegretti Corporation uses the weighted-average method in its process costing. The following data concern the company's Assembly Department for the month of January. During the month, 8,700 units were completed and transferred from the Assembly Department to the next department. Required: Determine the cost of ending work in process inventory and the cost of units transferred out of the department during January using the weighted-average method.

In December, one of the processing departments at Pomainville Corporation had beginning work in process inventory of $20,000 and ending work in process inventory of $35,000. During the month, the cost of units transferred out from the department was $201,000. Required: Construct a cost reconciliation report for the department for the month of December.

Bosril Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: A total of 5,600 units were started and 4,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 85% complete with respect to materials and 45% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to:

Black Company uses the weighted-average method in its process costing system. The company's ending work in process inventory consists of 5,000 units, 80% complete with respect to materials and 50% complete with respect to labor and overhead. If the total dollar value of the inventory is $60,000 and the cost per equivalent unit for labor and overhead is $8.00, the cost per equivalent unit for materials must be:

Guasson Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were: A total of 6,400 units were started and 5,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 85% complete with respect to materials and 50% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The cost per equivalent unit for conversion costs for the first department for the month is closest to:

Krepps 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: Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -The total cost transferred from the first processing department to the next processing department during the month is closest to:

In September, one of the processing departments at Shenkel Corporation had beginning work in process inventory of $25,000 and ending work in process inventory of $18,000. During the month, the cost of units transferred out from the department was $304,000. In the department's cost reconciliation report for September, the total cost accounted for would be:

Assume there is no beginning work in process inventory and the ending work in process inventory is 100% complete with respect to materials costs. The number of equivalent units with respect to materials costs under the weighted-average method is:

Fauste Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 10,000 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. An additional 55,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. During the month 52,000 units were completed in the Assembly Department and transferred to the next processing department. There were 13,000 units in the ending work in process inventory of the Assembly Department that were 80% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Assembly Department for the month?

A sporting goods manufacturer buys wood as a direct material for baseball bats. The Forming Department processes the baseball bats, and the bats are then transferred to the Finishing Department where a sealant is applied. There was no beginning work in process inventory in the Forming Department in May. The Forming Department began manufacturing 10,000 Casey Slugger baseball bats during May. Costs for the Forming Department for the month of May were as follows: A total of 8,000 bats were completed and transferred to the Finishing Department during May. The ending work in process inventory was 100% complete with respect to direct materials and 25% complete with respect to conversion costs. The company uses the weighted-average method of process costing. -How many units were started into production during the month?

Guasson Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were: A total of 6,400 units were started and 5,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 85% complete with respect to materials and 50% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. -How many units are in ending work in process inventory in the first processing department at the end of the month?

Baroche 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. Required: Using the weighted-average method: a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. c. Determine the cost of units transferred out of the department during the month. d. Determine the cost of ending work in process inventory in the department.

A sporting goods manufacturer buys wood as a direct material for baseball bats. The Forming Department processes the baseball bats, and the bats are then transferred to the Finishing Department where a sealant is applied. There was no beginning work in process inventory in the Forming Department in May. The Forming Department began manufacturing 10,000 Casey Slugger baseball bats during May. Costs for the Forming Department for the month of May were as follows: A total of 8,000 bats were completed and transferred to the Finishing Department during May. The ending work in process inventory was 100% complete with respect to direct materials and 25% complete with respect to conversion costs. The company uses the weighted-average method of process costing. -How much cost, in total, was assigned to the units transferred out to the next department during the month?

Raulot Corporation 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 cost per equivalent unit for conversion cost for January was $1.72. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January?

In December, one of the processing departments at Stiel Corporation had ending work in process inventory of $38,000. During the month, $119,000 of costs were added to production and the cost of units transferred out from the department was $92,000. -In the department's cost reconciliation report for December, the total cost accounted for would be: