Steven Corporation uses the FIFO method in its process costing system. Department A's beginning work in process inventory consisted of 15,000 units, 100% complete with respect to materials and 40% complete with respect to conversion costs. The total cost of this inventory was $31,000. A total of 40,000 units were transferred out during the month. The costs per equivalent unit were computed to be $1.30 for materials and S2.20 for conversion costs. What was the cost of the units completed and transferred out?

A. $131,700

B. $118,500

C. $140,000

D. $138,300

Which of the following companies would have the highest proportion of variable costs in its cost structure?

A. Architectural firm

B. Airline

C. Public utility

D. Fast fooggutlet

In February, one of the processing departments at Manger Corporation had beginning work in process inventory of $25,000 and ending work in process inventory of $34,000. During the month, $290,000 of costs was added to production and the cost of units transferred out from the department was $281,000. In the department's cost reconciliation report for February, what would the total cost to be accounted for under the weighted-average method be?

A. $59,000

B. $605,000

C. $630,000

D. $315,000

Which of the following entries would record the application of overhead cost correctly?

A.

Work in Process. XXX

Accounts Payable XXX

B.

Manufacturing Overhead XXX

Work in Process. XXX

C.

Work in Process. XXX

Manufacturing Overhead

XXX

D.

Manufacturing Overhead XXX

Accounts Payable XXX

During May at Shatswell Corporation, $57,000 of raw materials was requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $7,000. The journal entry to record this requisition would include a debit to

Manufacturing Overhead of

A. $0.

B. $57,000.

C. $7,000.

D. $50,000.