Question: Please answer items #1-5 with solutions, thank you so much in advance! 310 Cost Accounting MULTIPLE CHOICE Glendale Company is using process costing system. The

Please answer items #1-5 with solutions, thank you so much in advance!

Please answer items #1-5 with solutions, thank
310 Cost Accounting MULTIPLE CHOICE Glendale Company is using process costing system. The following were taken from the books for Department 2 for the month of June. Quality control inspection is done when the units are 80% completed and materials are added 100% after inspection. 50,000 Units received Units completed and transferred 40,000 Units in process, end (60% completed) 5,000 Units lost (normal) 5,000 1. Equivalent production for materials is: a. 50,000 b. 45,000 C. 40,000 d. 43,000 2. Equivalent production for conversion costs is: a. 43,000 b. 44,000 C. 47,000 d. 45,000 Same data as in 1 & 2, this time we assume that the units in process, end are 90% completed. 3. Equivalent production for materials is: a. 50,000 b. 45,000 C. 40,000 d. 43,000 4. Equivalent production for conversion costs is: a. 43,000 b. 44,000 C. 44,500 d. 48,500 same data as in 1 & 2, this time we assume that the lost units are classified as abnormal. 3. Equivalent production for materials is: a. 50,000 b. 45,000 C. 40,000 d. 48,000

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