Ch 5 - Process Costing - inclass exercises.pdf - Adobe Acrobat Reader (64-bit) X File Edit View Sign Window Help Home Tools Ch 5 - Process Cos... x 1 4 2/3 100% -9 Search 'Draw Shape' Conversion % completion 45% Export PDF O Exercise 5.3 PJ Co. uses an actual process costing system. In Department 2, direct materials are added at the 50% stage of completion of the process and conversion costs are added Adobe Export PDF uniformly throughout the process. On March 1, there were 6,000 units in work-in-process; they were 60% completed as to conversion cost. During March, 42,000 units were transferred into Convert PDF Files to Word or Excel Online Department 2 for processing. On March 31, there were 8,000 units in work-in-process: 3,000 units were 40% complete as to conversion costs and the other 5,000 units were 80% complete as to Select PDF File conversion costs. No spoilage was reported during March. Ch 5 - Proc..xercises.pdf X 1. Using the first-in, first out (FIFO) method, how does the number of equivalent units of production for the transferred-in costs compare to the number using the weighted average Convert to method? Microsoft Word (*.docx) a) It is 8,000 higher than using the weighted average method. Document Language: b) It is 6,000 higher than using the weighted average method. English (U.S.) Change c) It is the same as using the weighted average method. d) It is 6,000 lower than using the weighted average method. Convert 2. Using the FIFO method, what is the number of equivalent units of production for direct materials for March? View Adobe's cloud storage Files a) 39,000 b) 39,200 Edit PDF C) 42,000 To Create PDF d) 45,000 3. Using the weighted average method, what is the number of equivalent units of production for Comment conversion costs for March? a) 41,600 Combine Files b) 45,000 Organize Pages v C) 45,200 Convert, edit and e-sign PDF d) 48,000 forms & agreements Exercise 5.4 Hungry Hippo Lid. manufactures glazed planters for the garden, using the following process. First, a large batch of clay is mixed until smooth then transferred to the moulding Free 7-Day Trial department. There the clay is injected into moulds where it hardens into the shape of the planter