Question

1. Bildy Corp. uses a process costing system. During January, 10,200 units were started, and 11,300 units were completed. On January 31, the inventory consisted of 450 units that were 70% completed. How many units were in beginning inventory on January 1?

2. Bosco Corp. uses a process costing system. Beginning inventory for January consisted of 1,070 units that were 63% completed. During January, 10,500 units were completed. On January 31, the inventory consisted of 560 units that were 80% completed. How many units were started during January?

3. Brody Corp. uses a process costing system in which direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Beginning inventory for January consisted of 1,070 units that were 75% completed. 12,500 units were started into the process during January. On January 31, the inventory consisted of 650 units that were 40% completed. What would be the equivalent units for conversion cost using the weighted average method?

4.Frost, Inc. is a service firm that uses process costing. The firm worked on a total of 1,500 cases this month, 700 of which were completed during the period. The remaining cases were 40% complete. The firm incurred $230,000 in direct labor and manufacturing overhead costs during the period, and had $4,600 in direct labor and manufacturing costs in beginning inventory. Using the weighted average method, what was the cost per equivalent unit?

Answer 1