Calculimit Corp. manufactures calculators. Its first processing department had a

Question

Calculimit Corp. manufactures calculators. Its first processing department had a beginning work in process inventory of 2,000 units during a period. It started an additional 10,000 units into production, but could complete only 9,000 units during the period. The ending work in process inventory is 70% complete with respect to conversion cost and 100% complete with respect to direct materials. The equivalent units in ending work in process inventory for conversion cost would be _____

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3,000 units

2,100 units

True Tents, Inc. makes camping tents, and has a beginning work in process inventory of 50 units valued at $2,400 for conversion costs. The additional conversion costs incurred during the period is $6,984 and started 100 units into production. The ending work in process inventory is 60 units, with the percentage of completion at 80% with respect to conversion. The equivalent cost per unit for conversion cost under the weighted-average method is ____

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68 per unit

78 per unit

The cleaning process of Komin Inc. has calculated its cost per equivalent unit for materials to be $800 and for conversion to be $300. Eighty units were transferred out of the cleaning department. So, the cost of units transferred out from the process is _____

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$64,000

$88,000

Explanation / Answer

1) Unit in ending work in process = 2000+10000-9000 = 3000 Unit

Equivalent unit in ending work in process in conversio = 3000*70% = 2100 Units

So answer is 2100 units

2) Unit transferred out = 50+100-60 = 90 Units

Equivalent unit of conversion = 90+(60*80%) = 138 Unit

Cost per equivalent unit = (2400+6984)/138 = 68 per unit

So answer is 68 per unit

3) Cost of units transferred out from the process is (800+300)*80 = $88000

So answer is $88000

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