Question

Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 19,000 units, 100% complete with respect to materials cost and 30% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $25,600. A total of 55,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.80 for materials and $3.50 for conversion costs. The total cost of the units completed and transferred out of the department was:
Multiple Choice
•   $291,500
•   $314,500
•   $233,750
•   $280,300

Item30

Time Remaining 2 hours 49 minutes 14 seconds
02:49:14
Item30
Item 30

Time Remaining 2 hours 49 minutes 14 seconds
02:49:14
Vallin Manufacturing Corporation’s beginning work in process inventory consisted of 9,700 units, 100% complete with respect to materials cost and 60% complete with respect to conversion costs. The total cost in the beginning inventory was $53,000. During the month, 57,000 units were transferred out. The equivalent unit cost was computed to be $4.20 for materials and $4.70 for conversion costs under the weighted-average method. Given this information, the total cost of the units completed and transferred out was:
Multiple Choice
•   $426,000
•   $355,600
•   $507,300
•   $354,000
Item31

Time Remaining 2 hours 48 minutes 59 seconds
02:48:59
Item31
Item 31

Time Remaining 2 hours 48 minutes 59 seconds
02:48:59
Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 3,600 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $10,400. During the period, 9,600 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $5.60 for material and $6.60 for conversion costs. The cost of units transferred out during the month was:
Multiple Choice
•   $63,360
•   $66,400
•   $117,120
•   $84,000

Item32

Time Remaining 2 hours 48 minutes 48 seconds
02:48:48
Item32
Item 32

Time Remaining 2 hours 48 minutes 48 seconds
02:48:48
In July, one of the processing departments at Okamura Corporation had beginning work in process inventory of $32,000 and ending work in process inventory of $37,000. During the month, the cost of units transferred out from the department was $167,000. In the department's cost reconciliation report for July, the total cost to be accounted for under the weighted-average method would be:
Multiple Choice
•   $69,000
•   $138,000
•   $151,000
•   $204,000

Answer 1

1) a) $2915,00

We have been given the following information in the question

• A total of 55,000 units were transferred out
• The costs per equivalent unit = $1.8 for materials
• The costs per equivalent unit = $3.5 for conversion costs.

for finding out the cost of units completed and transferred out, we are first required to find the total costs per equivalent unit.

• Total costs per equivalent unit = materials + conversion costs.
• Total costs per equivalent unit = $1.8 + $3.5
• Total costs per equivalent unit = 5.3

Now we will multiply the total cost per equivalent unit by the total units transferred out for getting Total cost of the units completed and transferred out :

• Total cost of the units completed and transferred out = 55000x 5.3 =$215,000
• Total cost of the units completed and transferred out = $2915,00

Q2) C) 507300

We have been given the following information in the question

• A total of 57,000 units were transferred out
• The costs per equivalent unit = $4.2 for materials
• The costs per equivalent unit = $4.7 for conversion costs.

for finding out the cost of units completed and transferred out, we are first required to find the total costs per equivalent unit.

• Total costs per equivalent unit = materials + conversion costs.
• Total costs per equivalent unit = $4.2+4.7
• Total costs per equivalent unit = $8.9

Now we will multiply the total cost per equivalent unit by the total units transferred out for getting Total cost of the units completed and transferred out :

• Total cost of the units completed and transferred out = 57000x 8.9 =$507300
• Total cost of the units completed and transferred out = $507300

Total units completed and transferred out were 57,000 units.

Q3) C) $117120

Explanation :

There are two costs namely material costs and conversion costs.

Number of units completed and transferred to the next department = 9,600 units.

Cost per equivalent unit for material = $5.6

Cost per equivalent unit for conversion costs = $6.6

Material cost = Number of units completed and transferred to the next department * Cost per equivalent unit for material = 9,600 * $5.6= $53760

Conversion costs = Number of units completed and transferred to the next department * Cost per equivalent unit for conversion costs = 9,600 * $6.6 = 63360

Total cost of units transferred out = Material cost + Conversion costs = $53760+63360 = $117120

Q4) D) 204000

Cost to be Accounted For :
Cost of the ending work in progress inventory	37000
Add : Cost of units transfered out	167000
TOTAL COST TO BE ACCOUNTED FOR	204000
TOTAL COST ACCOUNTED FOR	204000