.

Solutions:

BSAIS-2nd year 2. Completed and Transferred out 135,000

Work in Process, July 31 45,000
Quiz on Cost Accounting: Equivalent units 180,000
1. C 27. C

2. D 28. C 3. Completed and Transferred out 70,000

Work in process, ending 7,000
3. C 29. C Equivalent units 77,000

4. D 30. D 4. Completed and Transferred out 150,000

5. B Work in process, May 31 (50,000x40%) 20,000
Equivalent unit 170,000
6. C
6. Work in process, beg (20,000x30%) 6,000
7. B Transferred out 80,000
8. C Work in process, end (10,000x40%) 4,000
Units transferred out 90,000
9. A
7. Transferred out 80,000
10. D WIP, Beginning 20,000
11. C Equivalent units of production 100,000

12. B 8. Transferred out 80,000

WIP, ending 10,000
13. A Equivalent units of production 90,000
14. B
9. Completed & Transferred out 28,000
15. C WIP, ending 50% 7,000
Equivalent units of production 35,000
16. A
10. FIFO Method
17. D

18. B Equivalent Units

Units to be accounted for:
19. C
Work in Process,
20. D beginning 1,280
(1,600 x 80%) 320
21. B
(1,600 x 20%) 1,440
22. D (1,600 x 90%) 4,000
Units completed 20,000
23. (20,000 x 100%)
Work in Process, ending 5,000
24. A
(10,000 x 50%) 28,000
25. A Equivalent units of
production
26. C
 11. Weighted Average Method

Equivalent Units

Units to be accounted for:

Units completed and transferred out 12,000
Work in Process, ending 2,400
Equivalent Units of Production: 14,400
Materials

12. Computation:
WIP, beginning 75% 6,000
Completed & Transferred out 18,000
WIP, ending 50% 6,000
Equivalent units of production 30,000

13. Computation:
Completed 12,000
WIP, ending 1,200
Units Started into production 13,200

14. Units to be accounted for:

Work in Process, beginning
(35,000 units x 100%) 35,000
Work in Process, ending
(5,000 x 80%) 4,000
Equivalent Units of Production:
Conversion 39,000

15. Units Accounted for 12,000

WIP, beginning (4,000)
Units started into production 8,000

26. Cost of Goods Manufactured

80,000 + 120,000 + 60,000 260,000
Cost of Goods Sold
260,000/ 5000 = 52 x 4000 208,000
Finished Goods on Hand
260,000 – 208,000 52,000

27. Cost of Goods Manufactured

55,000 + 30,000 + 20,000 105,000
Cost of Goods Sold
105,000/ 3000 = 35 x 1,800 63,000
Finished Goods on Hand
105,000 – 63,000 42,000