Reference no: EM132503797

Question 1 - Jonas Company had no beginning inventory and adds all materials at the very beginning of its only process. Assume 40,000 units were started, and 50% are done at month's end. Total costs were $10,000 for material and $20,000 for conversion. The cost per equivalent unit of conversion is _____________.

a) $0.48

b) $0.5

c) none of these

d) $1.00

e) $2.00

Question 2 - Swift Company had no beginning inventory and adds all materials at the very beginning of its only process. Assume 20,000 units were started, and 10,000 units completed. Ending work in process is 75% complete. The cost per equivalent unit of conversion is __________.

a) $1.00 if total conversion cost is $8,750

b) none of these

c) $1.00 if total conversion cost is $10,000

d) $1.00 if total conversion cost is $15,000

e) $1.00 if total conversion cost is $17,500

Question 3 - Mendes Company makes units, and each unit requires 3 pounds of material at $2 per pound. 600 and 700 units will be built in May and June, respectively. Mendes keeps material on hand at 10% of the next month's production needs. How much is the material cost for May's output?

a) $3,660

b) $2,400

c) none of these

d) $3,500

e) $3,060