41) Sparky Corporation uses the weighted average method information is available for February in its Molding Department: uses the weighted average method of process costing. The following Units: Beginning Inventory: 25.000 units, 100% complete as to materials and 55% complete as conversion Units started and completed: 110.000, Units completed and transferred out: 135.000. Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion Costs: Costs in beginning Work in Process - Direct Materials: $43.000. Costs in beginning Work in Process - Conversion: $48.850. Costs incurred in February - Direct Materials: $287.000. Costs incurred in February - Conversion: $599,150. Calculate the cost per equivalent unit of materials. A) $2.00 B) $2.05 C) $1.74 D) $2.36 E) $2.61 42) Sparky Corporation uses the weighted average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 25.000 units, 100% complete as to materials and 55% complete as to conversion Units started and completed: 110,000. Units completed and transferred out: 135,000. Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: S43,000. Costs in beginning Work in Process - Conversion: $48.850. Costs incurred in February - Direct Materials: $287,000. Costs incurred in February - Conversion: $599,150. Calculate the cost per equivalent unit of conversion. A) $4.60 B) $4.50 C) $4.16 D) $4.98 E) $5.45 43) Richards Corporation uses the weighted average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 80.000 units, 60% complete as to materials and 20% complete as to conversion. Units started and completed: 250,000. Units completed and transferred out: 330,000. Ending Inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion Costs: Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process - Conversion: $79.700. Costs incurred in October - Direct Materials: $646,800. Costs incurred in October - Conversion: $919,300. Calculate the equivalent units of materials. A) 250,000 B) 317,000 C) 294,000 D) 333,000 E) 342,000 44) Richards Corporation uses the weighted average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 80.000 units, 60% complete as to materials and 20% complete as to conversion Units started and completed: 250,000. Units completed and transferred out: 330,000. Ending Inventory: 30,000 units. 40% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37.200. Costs in beginning Work in Process - Conversion: $79,700. Costs incurred in October - Direct Materials: $646,800. Costs incurred in October - Conversion: $919,300. Calculate the equivalent units of conversion. A) 250,000 B) 317.000 C) 294,000 D) 333,000 E) 342.000 45) Richards Corporation uses the weighted average method of process costing.in information is available for October in its Fabricating Department: Units: Beginning Inventory: 80.000 units, 60% complete as to materials and 20% complete as to conversion. Units started and completed: 250.000 Units completed and transferred out: 330,000. Ending Inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37.200. Costs in beginning Work in Process - Conversion: $79,700. Costs incurred in October - Direct Materials: $646.800. Costs incurred in October - Conversion: $919,300. Calculate the cost per equivalent unit of materials. A) $2.59 B) $2.33 C) $1.89 D) $2.20 E) $2.00 46) Richards Corporation uses the weighted average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 80,000 units, 60% complete as to materials and 20% complete as to conversion. Units started and completed: 250,000. Units completed and transferred out: 330,000. Ending Inventory: 30,000 units. 40% complete as to materials and 10% complete as to conversion Costs: Costs in beginning Work in Process - Direct Materials: $37.200. Costs in beginning Work in Process - Conversion: $79,700. Costs incurred in October - Direct Materials: $646.800. Costs incurred in October - Conversion: $919,300. Calculate the cost per equivalent unit of conversion A) $2.76 B) $3.15 C) $3.68 D) $2.90 E) $3.00 47) Pitt Enterprises manufactures jeans. All materials are introduced at the beginning of the manufacturing process in the Cutting Department. Conversion costs are incurred uniformly throughout the manufacturing process. As the cutting of material is completed, the pieces are immediately transferred to the Sewing Department. Information for the Cutting Department for the month of May follows. Work in Process, May 1 (50,000 units, 100% complete for direct materials, 40% complete with respect to conversion costs; includes $70,500 of direct material cost: $34.050 of conversion costs) Units started in May Units completed in May 225.000 200.000 Work in Process, May 31 (75.000 units, 100% complete for direct materials; 20% complete for conversion costs). Costs incurred in May Direct materials Conversion costs $ $ 342.000 352,950 If Pitt Enterprises uses the weighted average method of process costing, compute the equivalent units for direct materials and conversion respectively for May. A) 225.000 materials: 195,000 conversion. B) 275,000 materials: 215.000 conversion. C) 150,000 materials; 150,000 conversion. D) 195,000 materials: 225,000 conversion. E) 195,000 materials: 195,000 conversion. 48) Pitt Enterprises manufactures jeans. All materials ar manufactures jeans. All materials are introduced at the beginning of the med uniformly waacturing process in the Cutting Denartent Conversion costs are incurcu throughout the manufacturing process the cutting of material is completed, the immediately transferred to the Sewing Department Information for the Cutting Dep the month of May follows. ting of material is completed, the pieces are 1. Information for the Cutting Department for Work in Process, May 1 (50.000 units. 10: 06 mpete for direct materials, 40% complete with respect to conversion costs: includes 570.500 of direct material cost: 534,050 of converse costs) Units started in May Units completed in May 225.000 200,000 Work in Process, May 31 (75.000 units, 100% complete for direct materials: 20% complete for conversion costs). Costs incurred in May Direct materials Conversion costs $342.000 $ 352,950 If Pitt Enterprises uses the FIFO method of process costing, compute the equivalent units for direct materials and conversion respectively for May. A) 225.000 materials: 195,000 conversion. B) 275.000 materials: 215.000 conversion. C) 150,000 materials: 150,000 conversion D) 195.000 materials: 225,000 conversion. E) 195,000 materials: 195,000 conversion. 49) Pitt Enterprises manufactures jeans. All materials are introduced at the beginning of the manufacturing process in the Cutting Department. Conversion costs are incurred uniformly throughout the manufacturing process. As the cutting of material is completed, the pieces are immediately transferred to the Sewing Department. Information for the Cutting Department for the month of May follows. Work in Process, May 1 (50,000 units, 100% complete for direct materials, 40% complete with respect to conversion costs; includes $70,500 of direct material cost: $34,050 of conversion costs). Units started in May Units completed in May 225.000 200.000 Work in Process, May 31 (75,000 units, 100% complete for direct materials: 20% complete for conversion costs). Costs incurred in May Direct materials Conversion costs $ $ 342,000 352,950 I Pilt Enterprises uses the FIFO method of process costing, compute the cost per equivalent unit for direct materials and conversion costs respectively for May. A) $1.52; $1.81. B) $1.50: $1.76. C) $1.83; $1.72 D) $1.71; $1.81. E) $3.30; $3.30. 50) At the beginning of the month, the Forming Department of Martin Manufacturing had 10,000 units in inventory, 30% complete as to materials, and 10% complete as to conversion. During the month the department started 60,000 units and transferred 62.000 units to the next manufacturing department. At the end of the month, the department had 8.000 units in inventory, 80% complete as to materials and 60% complete as to conversion. How many units did the Forming Department start and complete in the current month? A) 62.000 B) 60,000 C) 58,000 D) 68,000 E) 52.000