Reference no: EM132856991
Questions -
Q1) Alcoa Inc. uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 12,000 units. The total cost in the beginning work in process inventory was $25,000.
During the month, 50,000 units were ompleted and transferred out of the department.
The costs per equivalent unit were computed to be $1.50 for materials and $3.20 for conversion costs.
Find the total cost of the units completed and transferred out of the department?
a. $201,640.
b. $226,640.
c. $235,000.
d. $210,000.
Q2) The following information relates to Airgas, Inc.:
Total manufacturing overhead applied to production during the year $625,000
Total manufacturing overhead incurred (actual) during the year $618,000
In the adjusting journal entry of the variance, the company would:
a. debit cost of goods sold for $2,000
b. credit cost of goods sold for $2,000
c. credit cost of goods sold for $7,000
d. debit cost of goods sold for $7,000
Q3) Aquila Plastics, Inc., manufactures plastic moldings for car seats. Data for Department A , February 2019 are:
Beginning work in process inventory 200 units & units added to production during February 600 units.
Work in process, ending inventory: 100 units, 30% complete as to conversion costs, 100% complete as to materials.
What were the equivalent units of direct materials and conversion costs, respectively, for the ending inventory?
a. 800,700
b. 600,500
c. 800,800
d. 100,300