1. Weighted average and first-in, first-out (FIFO) equivalent units would be the same in a period when which of the following occurs?
a. No beginning inventory exists.
b. No ending inventory exists.
c. Beginning inventory equivalent units exceed 50% complete.
d. Beginning inventory equivalent units are less than 50% complete.
2. During the month of June, the mixing department produced and transferred out 3,500 units. Ending work in process had 1,000 units, 40 percent complete with respect to conversion costs. There was no beginning work in process. The equivalent units of output for conversion costs for the month of June are:
a. 3,500
b. 4,500
c. 3,900
d. 1,000
3. As goods are transferred from a prior process to a subsequent process, the following entry to record the cost of abnormal spoilage would be made:
a. Debit Work in Process (subsequent department) and credit Work in Process (prior department)
b. Debit Abnormal Spoilage Loss and credit Work in Process (prior department)
c. Debit Finished Goods and credit Work in Process (prior department)
d. Debit Finished Goods and credit Abnormal Loss