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Quiz 3 in Process Costing: Data For Department A For February 20x3 Are

This document contains two practice questions about process costing. [1] The first question provides data for Department A of Injection Molding, Inc. for February 2023 regarding work in process inventory, units started and completed, and asks how to calculate equivalent units of production for materials and conversion costs. [2] The second question provides similar data for the Assembly Department of Swiss Clock Shop for June 2023 and asks to calculate equivalent units of production for materials and conversion costs, as well as units completed and transferred out.

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Myles Rangiris
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312 views

Quiz 3 in Process Costing: Data For Department A For February 20x3 Are

This document contains two practice questions about process costing. [1] The first question provides data for Department A of Injection Molding, Inc. for February 2023 regarding work in process inventory, units started and completed, and asks how to calculate equivalent units of production for materials and conversion costs. [2] The second question provides similar data for the Assembly Department of Swiss Clock Shop for June 2023 and asks to calculate equivalent units of production for materials and conversion costs, as well as units completed and transferred out.

Uploaded by

Myles Rangiris
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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QUIZ 3 in PROCESS COSTING

Injection Molding, Inc., manufactures plastic moldings for car seats. Its costing system utilizes two cost categories, direct materials and conversion costs. Each product must pass through Department A and Department B. Direct materials are added at the beginning of production. Conversion costs are allocated evenly throughout production. The company uses the FIFO method. Data for Department A for February 20x3 are : Work in process, beginning inventory, 40% converted Units started during February Work in process, ending inventory 200 units 600 units 100 units

1. What is the equivalent unit of production for materials in Department A? ___________ 2. What is the equivalent unit of production for conversion cost in Department A? ___________ 3. How many units were completed and transferred out of Department A during February? ___________ 4. How many units were started and completed in Department A during February?___________

The Swiss Clock Shop manufactures clocks on a highly automated assembly line. Its costing system utilizes two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the end of the production process. Conversion costs are allocated evenly throughout production. Swiss Clock Shop uses weighted-average costing. Data for the Assembly Department for June 20x3 are : Work in process, beginning inventory Direct materials (100% complete) Conversion costs (50% incomplete) Units started during June Work in process, ending inventory: Direct materials (100% complete) Conversion costs (75% incomplete) 250 units

800 units 150 units

5. What are the equivalent units for direct materials and conversion costs, respectively, for June? ______________ , _____________ 6. How many units were completed and transferred out of Assembly Department during June? ___________ 7. How many units were transferred into Assembly Department during June?___________

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