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Exam 4: Process Costing

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Question 191

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Lucas 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: What are the equivalent units for materials for the month in the first processing department?

A) 9,000
B) 1,575
C) 6,900
D) 8,475

E) A) and B)
F) A) and C)

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Question 192

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Bettie Corporation uses a weighted-average process costing system to collect costs related to production. The following selected information relates to production for October: All materials at Bettie are added at the beginning of the production process.What total amount of cost should be assigned to the units completed and transferred out during October?

A) $642,000
B) $677,500
C) $690,000
D) $691,900

E) A) and B)
F) B) and D)

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Question 193

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Lanjan Corporation uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below: According to the company's records, the conversion cost in beginning work in process inventory was $92,218 at the beginning of June. Additional conversion costs of $571,618 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places.)

Prestwich Corporation has two service departments and two operating departments. Costs of the Building and Grounds service department are allocated to other departments on the basis of square feet of space occupied. The departments in the company and the amount of space occupied by each are presented below: Budgeted costs in the Building and Grounds department total $34,800 for the year.The amount of Building and Grounds department cost allocated to Operating Department A under the direct method would be:

Tript Corporation has a process costing system and uses the weighted-average method. The company had 3,000 units in work in process on February 1 that were 60% complete with respect to conversion costs. During the month, 10,000 units were completed. At the end of the month, 4,000 units remained in work in process that were 40% complete with respect to conversion costs. Materials are added at the beginning of the process.How many units were started into production during February?