2nd Flr, GF Partners Bldg, 139 H.V. dela Costa, Salcedo Village, Makati City 3rd Flr.

EPC B Bldg. 2!"! Claro M. #ecto, Manila

Practical Accounting 2 Prof. Jennifer Tolentino

QUIZZER IN COST ACCOUNTING Job Or er Co!ting $%e &ork in 'rocess acco(nt o) t%e Malinta Co*'any &%ic% (ses a +o, order cost syste* )ollo&s- .ork in Process /'ril 1 Bal 20,!!! 1irect *aterials 0!,!!! 1irect 2a,or 3!,!!! F4 a''lied 3!,!!! Finis%ed Goods 120,30!

45er%ead is a''lied to 'rod(ction at a 'redeter*ined rate, ,ased on direct la,or cost. $%e &ork in 'rocess at /'ril 3! re'resents t%e cost o) 6o, 7o 308, &%ic% %as ,een c%arged &it% direct la,or cost o) P3,!!! and 6o, 7o "99, &%ic% %as ,een c%arged &it% a''lied o5er%ead o) P2,3!!.

1.

$%e cost o) direct *aterials c%arged to 6o, 7o. 308 and "99 a*o(nteda. P9,"!! ,. P",8!! c. P3,0!! d. P3,2!!

2.

$%e 'ri*e cost d(ring t%e *ont% a*o(nted to: a. P"!,!!! ,. P9!,!!! c. P12!,!!! d. P130,!!!

$%e )ollo&ing cost data 'ertain to Matatag Co*'any )or Marc% 2!!! Marc% 1 Materials .ork in Process Finis%ed Goods P3!,!!! 20,!!! 8!,!!! Marc% 1;31 1irect 2a,or Cost Factory 45er%ead a''lied Cost o) good sold 3. $%e cost o) goods *an()act(red d(ring Marc% &as: a. P3"9,!!! ,. P399,!!! c. P399,!!! d. P320,!!! P12!,!!! 1!9,!!! 3"9,!!! Marc% 31 P0!,!!! 30,!!! "!,!!!

3.

$%e a*o(nt o) *aterials '(rc%ased )or t%e *ont% &asa. P0!,!!! ,. P1"!,!!! c. P19!,!!! d. P22!,!!!

Ha*ilton Co*'any (ses a +o, order costing. Factory o5er%ead is a''lied to 'rod(ction at a ,(dgeted rate o) 10!< o) direct la,or costs. /ny o5era''lied or (ndera''lied )actory o5er%ead is closed to t%e cost o) good sold acco(nt at t%e end o) t%e *ont%. /dditional in)or*ation is a5aila,le as )ollo&s1irect Materials 1irect 2a,or Factory o5er%ead a''lied P3,!!! 2,!!! 3,!!!

P"#$$$ 6o,s 1!2,1!3 and 1!3 &ere started d(ring Fe,r(ary. 1irect *aterials re=(isitions )or Fe,r(ary totaled P28,!!!. 1irect la,or costs o) P2!,!!! &ere inc(rred )or Fe,r(ary. /ct(al )actory o5er%ead &as P32,!!! )or Fe,r(ary. $%e only +o, still in 'rocess at %e end o) Fe,r(ary &as 6o, 7o 1!3, &it% costs o) P2,9!! )or direct *aterials and P1,9!! )or direct la,or

0.

$%e cost o) goods *an()act(red )or Fe,r(ary &as a. P"","!! ,. P"9,!!! c. P"9,"!! d. P90,!!!

1(ring Marc% , Marc Co*'any inc(rred t%e )ollo&ing costs on 6o, 2!9 )or t%e *an()act(re o) 2!! *otors4riginal cost acc(*(lation1irect *aterials 1irect 2a,or Factory o5er%ead >10!< o) 12C? P88! 9!! 1,2!! P2#%%$ 1irect costs o) re&orking 1! (nits1irect *aterials P1!!

1irect 2a,or

18! P2%$

Met%od / @ $%e re&ork cost &ere attri,(ta,le to t%e eAacting s'eci)ications o) 6o, 2!9, and t%e )(ll re&ork costs &ere c%arged to t%is s'eci)ic +o,. Met%od B @ $%e de)ecti5e (nits )all &it%in t%e nor*al range and t%e re&ork is not related to a s'eci)ic +o,, or t%e re&ork is co**on to all t%e +o,s.

8.

$%e cost 'er )inis%ed (nit o) 6o, 2!9 (sing *et%od / isa. P10.8! ,. P13.3! c. P10.9! d. P13.0!

".

$%e cost 'er )inis%ed (nit o) 6o, 2!9 (sing *et%od B isa. P13.3! ,. P10.9! c. P10.9! d. P13.8!

#(*ors Co*'any a''lies )actory o5er%ead as )ollo&s&actor' O(er)ea Rate Fa,ricating 1e'art*ent S'reading 1e'art*ent Gossi'ing 1e'art*ent P"."0 'er *ac%ine %o(r 10.1! 'er *ac%ine %o(r 2.120 'er *ac%ine %o(r

/ct(al *ac%ine %o(rs are- 19,!!! %o(rs )or )a,ricating: 2",0!! %o(rs )or s'reading and 0,0!! %o(rs )or gossi'ing 9. ) t%e act(al )actory o5er%ead cost )or t%e 'eriod is P0"3,3"0, %o& *(c% is o5er>(nder? a''lied )actory o5er%eadB a. >P11,9"0.!!? c. >P19".0!?

,. >P23,082.0!?

d. >P"8,120.!!?

1MF Man()act(ring Co*'any (ses a +o, order costing syste* and a 'redeter*ined o5er%ead rate ,ased on *ac%ine %o(rs. /t t%e ,eginning o) t%e year, t%e co*'any esti*ated *an()act(ring o5er%ead )or t%e year &o(ld ,e P12!,!!! and t%e *ac%ine %o(rs (sed &o(ld ,e 9,!!!.

$%e )ollo&ing in)or*ation 'ertain to 6(ne o) t%e c(rrent year6o, / .ork in 'rocess, 6(ne 1 Materials re=(isitioned 1irect la,or costs Mac%ine %o(rs P9,!!! 2,!!! 1,2!! 3!! 6o, B P13,!!! 2,3!! 1,9!! "!! 6o, C P19,!!! 3,8!! 2,!!! 9!!

/ct(al *an()act(ring costs inc(rred &ere P29,!!!. /t t%e end o) 6(ne, 6o, B &as sold at 8!< a,o5e cost.

9.

$%e total costs associated to 6o, / is a. P30,2!! ,. P1",2!! c. P11,2!! d. P3!,2!!

1!.

$%e ,illing 'rice )or 6o, B is a. P33,32! ,. P93,"2! c. P31,09! d. P38,2!!

$%e )ollo&ing in)or*ation &as taken )ro* t%e records o) t%e Cganda Cor'oration )or t%e *ont% o) 6(ne 2!!2. >$%ere

&ere no in5entories o) &ork in 'rocess or )inis%ed goods on 6(ne 1?

Cnits Sales d(ring t%e *ont% Man()act(ring costs )or *ont%1irect Materials 1irect 2a,or 45er%ead costs a''lied 45er%ead costs (ndera''lied n5entories, 6(ne 3!.ork in 'rocess Finis%ed goods 1,!!! 2,!!! 9,!!!

Costs PB

P32,!!! 2!,!!! 10,!!! 9!!

PB B

ndirect *an()act(ring costs are a''lied on a direct la,or costs ,asis. $%e (ndera''lied ,alance is d(e to seasonal 5ariations and &ill ,e carried )or&ard. $%e )ollo&ing cost esti*ates %a5e ,een s(,*itted )or t%e &ork in 'rocess in5entory o) 6(ne 3!: *aterials P3,!!!: direct la,or P2,!!!: o5er%ead P1,0!!.

11.

$%e no o) (nits t%at &ere co*'leted and trans)erred to )inis%ed goods d(ring t%e *ont% &as a. P9,!!! ,. P8,!!! c. P1!,!!! d. P11,!!!

12.

$%e act(al o5er%ead )or t%e *ont% is a. P10,!!! ,. P10,9!! c. P13,2!! d. ans&er not gi5en

13 .

$%e *an()act(ring cost 'er (nit is

a. P8.!0 ,. P9.3"0

c. P11.!9 d. P3.93

H(ll Mac%ine S%o' is a *an()act(rer o) aircra)t 'arts. Fi5e aircra)t 'arts o(t o) +o, lot o) 0! aircra)t 'arts are s'oiled. Costs assigned 'rior to t%e ins'ection 'oint are P2,!!! 'er 'art. $%e c(rrent dis'osal 'rice o) t%e s'oiled 'arts is esti*ated to ,e P8!! 'er 'art

13.

) t%e s'oilage is nor*al and attri,(ta,le to a s'eci)ic +o,, t%e (nit cost o) t%e good (nits is a. P2,!!! ,. P2,100 c. P8!! d. P1,3!!

10.

) t%e s'oilage is nor*al co**on to all +o,s, t%e (nit cost o) t%e good (nits is a. P2,!!! ,. P2,100 c. P8!! d. P1,3!!

18 .

) t%e s'oilage is a,nor*al, t%e a*o(nt c%argea,le to 2oss )ro* s'oilage acco(nt is

a. P3,!!! ,. P1!,!!!

c. P",!!! d. P!

1"

Consider H(ll Mac%ine S%o' a,o5e, i) t%e 0 aircra)t 'ars are de)ecti5e, nor*al and attri,(ta,le to s'eci)ic +o, and it re=(ires t%e )ollo&ing cost to re&ork t%e (nits- Materials o) P9!!, 2a,or o) P2,!!! and 45er%ead o) P1,!!!. $%e entry to record t%e cost o) re&ork isa. Man()act(ring 45er%ead Control 3,9!!

Materials .ages Paya,le Man()act(ring 45er%ead /''lied

9!! 2,!!! 1,!!!

,.

2oss )ro* re&ork Materials .ages Paya,le Man()act(ring 45er%ead /''lied

3,9!! 9!! 2,!!! 1,!!!

c.

.ork in Process Materials .ages 'aya,le Man()act(ring 45er%ead a''lied

3,9!! 9!! 2,!!! 1,!!!

d.

.ork in Process Materials .ages 'aya,le Man()act(ring 45er%ead Control

3,9!! 9!! 2,!!! 1,!!!

19 .

Consider data in 7o 13, eAce't t%at t%e re&ork is nor*al and co**on to all +o,s, t%e entry to record t%e cost o) re&orked isa. Man()act(ring 45er%ead Control 3,9!!

Materials .ages Paya,le Man()act(ring 45er%ead /''lied

9!! 2,!!! 1,!!!

,.

2oss )ro* re&ork Materials .ages Paya,le Man()act(ring 45er%ead /''lied

3,9!! 9!! 2,!!! 1,!!!

c.

.ork in Process Materials .ages 'aya,le Man()act(ring 45er%ead a''lied

3,9!! 9!! 2,!!! 1,!!!

d.

.ork in Process Materials .ages 'aya,le Man()act(ring 45er%ead Control

3,9!! 9!! 2,!!! 1,!!!

Fred Co*'any e*'loys a +o, order costing syste*. 4nly t%ree +o,s, D1!0, D1!8, and D1!" &ere &orked d(ring 7o5e*,er and 1ece*,er 2!!1. 6o,D1!0 &as co*'leted 1ece*,er 1!: t%e ot%er t&o +o,s &ere still in 'rod(ction on

1ece*,er 31, t%e end o) t%e co*'anyEs o'erating year. 6o, cost s%eets on t%e t%ree +o, )ollo&sD1!0 7o5e*,er costs1irect Materials 1irect 2a,or Factory 45er%ead P18,0!! 13,!!! 2!,9!! P9,3!! ",!!! 11,2!! ; ; ; D1!8 D1!"

1ece*,er costs: 1irect Materials 1irect 2a,or Factory 45er%ead P; 3,!!! B P9,2!! 8,!!! B P21,3!! 1!,!!! B

$%e )ollo&ing additional in)or*ation is a5aila,leMan()act(ring o5er%ead is assigned to +o,s on t%e ,asis o) direct la,or cost ndirect *aterials (sed d(ring 1ece*,er totaled P3,!!! ndirect la,or cost )or 1ece*,er totaled P9,!!! Vario(s *an()act(ring o5er%ead inc(rred d(ring 1ece*,er &as P19,!!! Balances in t%e in5entory acco(nts at 7o5e*,er 3! &ere as )ollo&s#a& Materials .ork in Process Finis%ed Goods P3!,!!! B 90,!!!

19.

$%e 'redeter*ined o5er%ead rate (sed to assigned o5er%ead costs to +o,s is a. 8!< o) 12 cost ,. 82.0!< o) 12 cost c. 18!< o) 12 cost d. 8!< o) 1M cost

2!.

$%e total o5er%ead costs a''lied d(ring 1ece*,er is a. P12,0!! ,. P12,!!! c. P32,!!! d. P31,!!!

21 .

$%e entry to record o5er%ead c%arged to 'rod(ction is

a.

.ork in 'rocess

31,!! ! 31,!!!

Man()act(ring 45er%ead Control

,.

.ork in 'rocess

31,!! ! 3,!!! 9,!!! 19,!!!

Materials .ages Paya,le Vario(s /cco(nt

c.

.ork in Process

32,!! ! 32,!!!

Man()act(ring 45er%ead Control

d.

.ork in Process

32,!! ! 32,!!!

Man()act(ring 45er%ead Control

22.

$%e cost o) goods *an()act(red )or t%e 'eriod is a. P08,"!! ,. P03,3!! c. P09,3!! d. P00,!!!

23.

$%e ,alance o) t%e &ork in 'rocess on 1ece*,er 31 is a. P2",0!! ,. P23,9!! c. P32,!!! d. P"3,!!!

23.

$%e total a*o(nt de,ited to &ork in 'rocess acco(nt )or 1ece*,er is a. P91,0!! ,. P39,0!! c. P81,0!! d. P9!,0!!

20.

$%e o5er%ead res(lted to a 5ariance o) a. P3,!!! (ndera''lied ,. P3,!!! o5era''lied c. P19,!!! (ndera''lied d. P19,!!! o5era''lied

PROCESS COSTING

*eig)te A(erage Co!ting $%e )ollo&ing data )or te *ont% o) Se'te*,er &ere taken )ro* t%e cost records o) 1e'art*ent / o) 72P &%ic% (ses a5erage costing4'ening in5entory o) &ork in 'rocess Cnits @>all *aterials and 0!< con5erted? Costs @ Materials 2a,or Factory 45er%ead P(t into Prod(ctionCnits Costs @ Materials 2a,or Factory 45er%ead 0,!!! P20,1!! 19,39! 13,9!! 0!! P2,3!! 1,,0!! "8!

Co*'leted and trans)erred Ending in5entory o) &ork in 'rocess Cnits @>all *aterials and 8!< con5erted?

3,9!! (nits

"!!

1.

$%e e=(i5alent (nit o) 'rod(ction )or la,or is a. ",2!! ,. 0,22! c. 3,9"! d. none o) t%e gi5en

2.

$%e (nit cost o) *aterial )or t%e *ont% is a. P0.!! ,. P0.0! c. P3.!! d. none o) t%e gi5en

Cost and statistics )or 1e't B o) a co*'any *an()act(ring a single 'rod(ct in t%ree de'art*ent )ollo&.ork in Process, 4cto,er 1 Cost in 1e't / Cost in 1e't B Costs @ Materials 2a,or Factory 45er%ead Cost added in 1e't B in 4cto,er Costs @ Materials 2a,or Factory 45er%ead 7one P13, !!! 30! 7one P 0!! 0! P11,39!

Cnits in Process, 4cto,er 1>8!< con5erted? Cnits recei5ed )ro* 1e't / at P2.8!F(nit

0!! 8,"!!

Cnits co*'leted and trans)erred Cnits in Process, 4cto,er 31 >0!< con5erted?

8,9!! 3!!

$%e co*'any (ses a5erage costing *et%od 3. $%e e=(i5alent 'rod(ction )or la,or &as a. ",2!! ,. ",!!! c. 8,9!! d. none o) t%e gi5en

3.

$%e con5ersion costs 'er (nit in 1e't B &as a. P2.!! ,. P8.!! c. P0.!! d. none o) t%e gi5en

Materials are added at t%e start o) t%e 'rocess in Cedar Co*'anyEs de'art*ent, t%e )irst stage o) t%e 'rod(ction cycle. $%e )ollo&ing in)or*ation is a5aila,le )or t%e *ont% o) 6(ly.ork in Process, 6(ly 1 >8!< con5erted? Started in 6(ly $rans)erred to neAt de'art*ent 2ost in Prod(ction .ork in Process, 6(ly 31 >0!< con5erted? 8!,!!! (nits 10!,!!! 11!,!!! 3!,!!! "!,!!!

Cnder Cedar Co*'anyEs cost acco(nting syste*, t%e costs inc(rred on t%e lost (nits are a,sor,ed ,y t%e re*aining good (nits 0. Csing t%e &eig%ted a5erage *et%od, &%at are t%e e=(i5alent (nits )or t%e *aterialsB a. 12!,!!! c. 19!,!!!

,. 130,!!!

d. 21!,!!!

SSS Cor'orationEs 'rod(ction cycle starts in t%e MiAing 1e'art*ent. $%e )ollo&ing in)or*ation is a5aila,le )or t%e *ont% o) /'ril.ork in Process, /'ril 1 >0!< con5erted? Started in /'ril .ork in Process, /'ril 3! >8!< con5erted? 3!,!!! (nits 23!,!!! 20,!!!

Materials are added in t%e ,eginning o) t%e 'rocess. 8. Csing t%e &eig%ted a5erage *et%od , &%at are t%e e=(i5alent (nits o) 'rod(ction )or t%e *ont% o) /'rilB Materials a. 23!,!!! ,. 200,!!! c. 2"!,!!! d. 29!,!!! Con5ersion 20!,!!! 200,!!! 2"!,!!! 2"!,!!!

#oy Co*'any *an()act(res 'rod(ct G in t&o stage 'rod(ction cycle in 1e't / and B. Materials are added at t%e ,eginning o) t%e 'rocess in 1e't B. #oy (ses t%e &eig%ted a5erage *et%od. Con5ersion costs )or 1e't B &ere 0!< co*'lete as to t%e 8,!!! (nits in t%e ,eginning . P and "0< co*'lete as to t%e 9,!!! (nits in t%e ending . P. 12,!!! (nits &ere co*'leted and trans)erred o(t . /n analysis o) t%e costs relating to &ork in 'rocess and 'rod(ction acti5ity in 1e't B )or Fe,r(ary is as )ollo&s$rans in . P, Fe,r(ary 1 P12,!!! Materials P2,0!! Con5ersion P1,!!!

Fe,r(ary cost added

29,!!!

0,0!!

0,!!!

".

$%e total cost 'er e=(i5alent (nit trans)erred o(t )or Fe,r(ary o) Prod(ct G >ro(nded to t%e nearest centa5o? a. P2."0 ,. P2."9 c. P2.92 d. P2.90

$%e .iring 1e't is t%e second stage o) Fern Co*'anyEs 'rod(ction cycle. 4n May 1, t%e ,eginning &ork in 'rocess contained 20,!!! (nits &%ic% &ere 8!< co*'lete as to con5ersion costs. 1(ring May, 1!!,!!! (nits &ere trans)erred in )ro* stage one o) FernEs 'rod(ction cycle. 4n May 31, t%e ending &ork in 'rocess contained 2!,!!! (nits &%ic% &ere 9!< co*'lete as to con5ersion costs. Material costs are added at t%e end o) t%e 'rocess. 9. Csing t%e &eig%ted a5erage *et%od, e=(i5alent (nits &ere$rans in a. ,. c. d. 1!!,!!! 120,!!! 120,!!! 120,!!! Materials 120,!!! 1!0,!!! 1!0,!!! 120,!!! Con5ersion 1!!,!!! 1!0,!!! 121,!!! 121,!!!

2(cas Co adds *aterials in t%e ,eginning o) t%e 'rocess in t%e For*ing 1e't., &%ic% is t%e )irst o) t&o stages o) its 'rod(ction cycle. n)or*ation concerning t%e *aterials (sed in t%e For*ing 1e't in 4cto,er are as )ollo&sCnits .ork in Process, 4cto,er 1 Cnits started in 4cto,er Cnits co*'leted and trans)erred o(t 8,!!! 0!,!!! 33,!!! Costs P3,!!! 20,08! B

9.

Csing t%e &eig%ted a5erage *et%od, &%at &as t%e *aterial cost o) &ork in 'rocess at 4cto,er 31B

a. P3,!!! ,. P0,02!

c. P8,!!! d. P8,12!

n)or*ation concerning 1e't B o) t%e 1o5inlen Co is as )ollo&sCnits Beginning &ork in 'rocess Cnits trans)erred in Cnits co*'leted 0,!!! 30,!!! 3",!!! Costs P8,3!! 09,!!!

Costs $rans in Beginning . P Cnits trans)erred in P2,9!! 1",0!! Materials P;!; 20,0!! Con5ersion P3,3!! 10,!!!

Con5ersion costs &ere 2!< co*'lete as to ,eginning &ork in 'rocess and 3!< co*'lete as to t%e ending &ork in 'rocess. /ll *aterials are added at t%e end o) t%e 'rocess. $o,y (ses a5erage *et%od. 1!. $%e cost 'er e=(i5alent (nit )or con5ersion costs is a. P!.33 ,. P!.38 c. P!.39 d. P!.0!

11.

$%e 'ortion o) t%e total cost o) ending . P attri,(ta,le to t%e trans)erred in costs a. P;!; ,. P1,0!! c. P1,03! d. P1,80!

&I&O Co!ting

1.. 2isa Co. *akes )a,ric;co5ered %at,oAes. $%e co*'any ,egan /(g(st &it% 0!! ,oAes in 'rocess t%at &ere 1!! 'ercent co*'lete as to card,oard, 9! 'ercent co*'lete as to clot%, and 8! 'ercent co*'lete as to con5ersion costs. 1(ring t%e *ont%, 3,3!! ,oAes &ere started. 4n /(g(st 31, 30! ,oAes &ere in 'rocess >1!! 'ercent co*'lete as to card,oard, "! 'ercent co*'lete as to clot%, and 00 'ercent co*'lete as to con5ersion costs?. Csing t%e F F4 *et%od, &%at are e=(i5alent (nits )or clot%B

a. 3,30! ,. 3,290 c. 3,390 d. 3,090

Forte Co. %as t%e )ollo&ing in)or*ation )or May-

Beginning .ork in Process n5entory >"!< co*'lete as to con5ersion? 8,!!! (nits

Started 23,!!! (nits Ending .ork in Process n5entory >1!< co*'lete as to con5ersion? 9,0!! (nits

+eginning *IP In(entor' Co!t!, Material P23,3!! Con5ersion 0!,8!"

Current Perio Co!t!, Material P31,0!! Con5ersion "8,908

/ll *aterial is added at t%e start o) t%e 'rocess and all )inis%ed 'rod(cts are trans)erred o(t.

2. Ho& *any (nits &ere trans)erred o(t in MayB

a. 10,0!! ,. 19,!!! c. 21,0!! d. 23,!!!

3. /ss(*e t%at &eig%ted a5erage 'rocess costing is (sed. .%at is t%e cost 'er e=(i5alent (nit )or *aterialB a. P1.93 ,. P1.!0 c. P!.00

d. P1.31

3. /ss(*e t%at F F4 'rocess costing is (sed. .%at is t%e cost 'er e=(i5alent (nit )or con5ersionB a. P".!3 ,. P3.33 c. P3.23 d. P0."1

$%e 1ece*,er 20t% Co. *akes &reat%s in t&o de'art*ents- For*ing and 1ecorating. For*ing ,egan t%e *ont% &it% 0!! &reat%s in 'rocess t%at &ere 1!! 'ercent co*'lete as to *aterial and 3! 'ercent co*'lete as to con5ersion. 1(ring t%e *ont%, 8,0!! &reat%s &ere started. /t *ont% end, For*ing %ad 2,1!! &reat%s t%at &ere still in 'rocess t%at &ere 1!! 'ercent co*'lete as to *aterial and 0! 'ercent co*'lete as to con5ersion. /ss(*e For*ing (ses t%e &eig%ted a5erage *et%od o) 'rocess costing. Costs in t%e For*ing 1e'art*ent are as )ollo&s-

+eginning *or- in Proce!! Co!t!, Material P1,!!! Con5ersion 1,0!! Current Co!t!, Material P3,2!! Con5ersion 0,!30

$%e 1ecorating 1e'art*ent %ad 8!! &reat%s in 'rocess at t%e ,eginning o) t%e *ont% t%at &ere 9! 'ercent co*'lete as to *aterial and 9! 'ercent co*'lete as to con5ersion. $%e de'art*ent %ad 3!! (nits in ending .ork in Process t%at &ere 0! 'ercent co*'lete as to *aterial and "0 'ercent co*'lete as to con5ersion. 1ecorating (ses t%e F F4 *et%od o) 'rocess costing, and costs associated &it% 1ecorating are-

+eginning *IP In(entor', $rans)erred n P1,1"!

Material 3,32! Con5ersion 8,21!

Current Perio , $rans)erred n B Material P8","30 Con5ersion 90,92! 0. Ho& *any (nits &ere trans)erred to 1ecorating d(ring t%e *ont%B a. ",!!! ,. 8!! c. 3,9!! d. 0,90!

8. .%at &as t%e cost trans)erred o(t o) For*ing d(ring t%e *ont%B a. P8,319 ,. P0,331 c. P9,33! d. P9,230

BC. Co. adds *aterial at t%e start to its 'rod(ction 'rocess and %as t%e )ollo&ing in)or*ation a5aila,le )or 7o5e*,er-

Beginning .ork in Process n5entory >3!< co*'lete as to con5ersion? ",!!! (nits Started t%is 'eriod 32,!!! (nits Ending .ork in Process n5entory

>20< co*'lete as to con5ersion? 2,0!! (nits $rans)erred o(t B

". Co*'(te t%e n(*,er o) (nits started and co*'leted in 7o5e*,er. a. 29,0!! ,. 39,!!! c. 38,0!! d. 33,0!!

9. Calc(late e=(i5alent (nits o) 'rod(ction )or *aterial (sing F F4. a. 38,9!! ,. 32,!!! c. 39,!!! d. 3",120

9. Calc(late e=(i5alent (nits o) 'rod(ction )or con5ersion (sing F F4. a. 33,320 ,. 3!,120 c. 3",120 d. 39,!!!

1!. Calc(late e=(i5alent (nits o) 'rod(ction )or *aterial (sing &eig%ted a5erage. a. 33,320 ,. 32,!!! c. 3",120

d. 39,!!!

11. Calc(late e=(i5alent (nits o) 'rod(ction )or con5ersion (sing &eig%ted a5erage. a. 39,920 ,. 3",120 c. 33,320 d. 39,3"0

Storey Co. adds *aterial at t%e start o) 'rod(ction. Fe,r(ary in)or*ation )or t%e co*'any )ollo&s-

Beginning .ork in Process n5entory >30< co*'lete as to con5ersion? 1!,!!! (nits Started t%is 'eriod 12!,!!! (nits Ending .ork in Process n5entory >9!< co*'lete as to con5ersion? 9,2!! (nits +eginning *or- in Proce!! In(entor' Co!t!, Material P23,0!! Con5ersion 89,9!0 Current Perio Co!t!, Material P "0,8!! Con5ersion 13!,!03

12. Ho& *any (nits *(st ,e acco(nted )orB a. 129,2!!

,. 139,2!! c. 13!,!!! d. 119,2!!

13. Ho& *any (nits &ere started and co*'leted in t%e 'eriodB a. 12!,!!! ,. 111,9!! c. 121,9!! d. 13!,!!!

13. .%at are t%e e=(i5alent (nits )or *aterial (sing t%e &eig%ted a5erage *et%odB a. 12!,!!! ,. 129,38! c. 13!,!!! d. 123,98!

10. .%at are t%e e=(i5alent (nits )or *aterial (sing t%e F F4 *et%odB a. 13!,!!! ,. 120,0!! c. 111,9!! d. 12!,!!!