Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Cost PercentCompleteMaterials costs$10,600 65% Conversion costs$12,800 30% A total of 8,500 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: CostMaterials costs$142,100 Conversion costs$359,500 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs.The cost per equivalent unit for conversion costs for the first
department for the month is closest to:
A. $48.47
B. $40.03
C. $44.58
D. $46.16
Answer: D
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a. true b. false
Which of the following statements is not true?
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The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $ 8,000 Conversion costs, 3,000 units, 66.7% completed 6,000 Materials added during April, 10,000 units 30,000 Conversion costs during April 31,000 Goods finished during April, 11,500 units --- April 30 work in process, 1,500
units, 50% completed --- All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for April is: A) $3.00 B) $3.80 C) $2.92 D) $2.31
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Answer the following statement true (T) or false (F)