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156) The Jones Corporation uses a process system. During the current period, 2,500 units were…

by | Sep 9, 2023 | accounting

156) The Jones Corporation uses a process system. During the current period, 2,500 units were started and 1,100 units were completed and transferred out. Ending units were 60% complete for materials and 45% complete for conversion costs. Direct materials costs added were $35,405 and conversion costs added were $32,870. There was no beginning WIP Inventory and conversion costs are added evenly throughout the process. At the end of the period, what are the total equivalent units for conversion costs?

A) 1,940

B) 1,400

C) 1,100

D) 1,730

157) There are 34,400 units started. 25,600 were completed and transferred out and the 8,800 remaining units were 60% complete for conversion costs. The total number of equivalent units for conversion costs is

A) 30,880.

B) 20,640.

C) 25,600.

D) 5,280.

158) There are 35,000 units started. 25,600 were completed and transferred out and the 9,400 remaining units were 65% complete for conversion costs. The total number of equivalent units for conversion costs is

A) 25,600.

B) 31,710.

C) 22,750.

D) 6,110.

159) The following information is provided by Greenbay Company:

WIP Inventory, January 1

0 units

Units started

22,000 units

Units completed and transferred out

9,000 units

WIP Inventory, December 31

13,000 units

Direct materials

$24,400

Direct labor

$12,500

Manufacturing Overhead

$12,000

The units were 80% complete for materials and 30% complete for conversion costs.

How much are the total costs for which Greenbay has to account (i.e., its total costs to account for)?

A) $36,900

B) $48,900

C) $24,500

D) $24,400

Total costs $48,900

160) The following information is provided by Galloway Company:

WIP Inventory, January 1

0 units

Units started

22,000 units

Units completed and transferred out

9,000 units

WIP Inventory, December 31

13,000 units

Direct materials

$26,500

Direct labor

$12,500

Manufacturing Overhead

$12,000

The units were 80% complete for materials and 30% complete for conversion costs.

How much are the total costs for which Galloway has to account (i.e., its total costs to account for)?

A) $26,500

B) $24,500

C) $39,000

D) $51,000

161) A shampoo manufacturer offers the following information:

WIP Inventory, January 1

0 units

Units started

25,600 units

Units completed and transferred out

19,200 units

WIP Inventory, December 31

6,400 units

Direct materials

$276,480

Direct labor

$585,000

Manufacturing Overhead

$328,920

The units in ending WIP Inventory were 60% complete for materials and 40% complete for conversion costs.

What is the total cost of units in ending WIP?

A) $345,600

B) $107,520

C) $153,600

D) $207,360

162) A shampoo manufacturer offers the following information:

WIP Inventory, January 1

0 units

Units started

25,600 units

Units completed and transferred out

19,200 units

WIP Inventory, December 31

6,400 units

Direct materials

$276,480

Direct labor

$585,000

Manufacturing Overhead

$328,920

The units in ending WIP Inventory were 60% complete for materials and 40% complete for conversion costs.

On December 31, what is the total cost of units completed and transferred?

A) $1,036,800

B) $853,527

C) $1,050,353

D) $1,071,254

163) A shampoo manufacturer offers the following information:

WIP Inventory, January 1

0 units

Units started

25,600 units

Units completed and transferred out

19,200 units

WIP Inventory, December 31

6,400 units

Direct materials

$276,480

Direct labor

$585,000

Manufacturing Overhead

$328,920

The units in ending WIP Inventory were 60% complete for materials and 40% complete for conversion costs.

On December 31, the cost per equivalent unit for conversion costs would be closest to

A) $32.45.

B) $27.82.

C) $42.00.

D) $39.59.

164) A shampoo manufacturer offers the following information:

WIP Inventory, January 1

0 units

Units started

25,600 units

Units completed and transferred out

19,200 units

WIP Inventory, December 31

6,400 units

Direct materials

$276,480

Direct labor

$585,000

Manufacturing Overhead

$328,920

The units in ending WIP Inventory were 60% complete for materials and 40% complete for conversion costs.

On December 31, the cost per equivalent unit for materials would be closest to

A) $14.28.

B) $9.39.

C) $12.71.

D) $12.00.

165) A shampoo manufacturer offers the following information:

WIP Inventory, January 1

0 units

Units started

25,600 units

Units completed and transferred out

19,200 units

WIP Inventory, December 31

6,400 units

Direct materials

$276,480

Direct labor

$585,000

Manufacturing Overhead

$328,920

The units in ending WIP Inventory were 60% complete for materials and 40% complete for conversion costs.

On December 31, what are the total equivalent units for conversion costs?

A) 21,760

B) 23,040

C) 19,200

D) 28,160

  

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