When there are beginning inventories, it is assumed that the percentage of completion of the unfinished units is 100%.   TRUE/FALSE

SANJOSE had the following production data for the month of July 2021:Work in process, beginning- 2,000 unitsStarted during the period- 90,000 unitsSpoiled units- 8,000 unitsWork in Process, ending- 6,000 unitsMaterials are added at the beginning of the process. As to conversion cost, the beginning WIP was 80% incomplete, and the ending Work In process was 70% completed. Spoilage is detected at the end of the process. What is the equivalent of units for July 2021 for conversion cost?

900 units are introduced in a process in which normal loss is 20%. If the actual output of the process is 650 units, then there is... a. Normal gain O b. Neither abnormal loss nor abnormal gain c. Abnormal Loss d. Abnormal gain

An ideal standard is the quantity of direct material required if a process is 100% efficient without any loss or waste. True or False True False

Overton Company has gathered the following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials Cost of beginning work in process, plus costs incurred during the period: Direct materials Direct labor Overhead (a) Question Part Score (b) Question Part Score (c) Completed and transferred out Ending work in process $ 20,000 $ 164,000 24,000 60 % 100 % Show the assignment of costs to units completed and transferred out and to work in process at the end of the period. $101,200 $164,800 $184,000 2/2 --/2

based on the attached what is the answer?

A production department reports the following conversion costs. Equivalent units of production for conversion total 501,000 for this period. Calculate the cost per equivalent unit of production for conversion. The company uses the weighted-average method. Cost of beginning work in process Costs added this period 251,000 851,200