Hamada Company uses the FIFO method in its process costing system. Beginning inventory in the mixing department consisted of 4,000 units, 50% complete with respect to conversion costs. Ending work in process inventory consisted of 3,000 units, 60% complete with respect to conversion costs. If 12,000 units were transferred to the next department during the period, the equivalent units for conversion costs would be: a. 13,000 units b. 13,200 units c. 10,800 units d. 11,800 units

Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products. Information for the company’s first production process for September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process. Work in process inventory, September 1 (2,000 units, 100% complete with respect to direct materials, 80% complete with respect to conversion; consists of $45,000 of direct materials cost and $56,320 conversion cost) $101,320 Costs incurred in September Direct materials . $375,000 Conversion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $341,000 Work in process inventory, September 30 (7,000 units, 100% complete with respect to direct materials, 40% complete with respect to conversion) . $ ? Units started in September . 28,000 Units completed…

Ashvin

he costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $0.60 and $0.25, respectively. The equivalent units to be assigned costs are as follows:   Equivalent Units   Direct Materials Conversion Inventory in process, beginning of period 0   2,400   Started and completed during the period 62,000   62,000   Transferred out of Filling (completed) 62,000   64,400   Inventory in process, end of period 10,000   2,500   Total units to be assigned costs 72,000   66,900   The beginning work in process inventory had a cost of $4,500. Determine the cost of completed and transferred-out production and the ending work in process inventory. Completed and transferred out of production $fill in the blank 1 Inventory in process, ending $fill in the blank 2