Reference no: EM132446648

Questions -

Q1. Alpha Company uses a process cost system. During 2017, Alpha had no beginning work in process inventory. During 2017, Alpha started 700 units. Alpha had 200 units in work in process at the end of 2017. These units were 50% complete with respect to materials. Use this information to determine the equivalent units for direct materials.

Q2. October 1, 2017, Alpha Company started a new production operation using the weighted average method of process costing. During October, 9,000 units were started and 7,000 were transferred to finished goods. The October 31, work in process inventory was 100% complete s to material costs and 40% complete s to conversion costs. Material costs for the month of October were $27,000 and conversion costs were $46,800. Use this information to determine:

1. Total costs transferred to finished goods inventory for October 2017.

2. Cost that should be assigned to Alpha' work in process inventory at the end of October 2017.

Q3. Alpha Company uses the weighted-average process costing method. During the month of March the direct material equivalent unit cost was $11.00 and the conversion cost equivalent unit was $6.00. Alpha completed and transferred $119,000 of production to the finished goods inventory for the month of March. Use this information to determine the number of units that were transferred from the Work in Process.