At the beginning of the recent period there were 1,020 units of product in a department, one-third completed. These units were finished and an additional 5,500 units were started and completed during the period. 840 units were still in process at the end of the period. One-fourth completed. Using the weighted-average valuation method the equivalent units produced by the department were: A. 6,730 units B. 6,680 units C. 7,360 units D. 6,390 Units E. 8,250 units

At the beginning of the recent period there were 1,020 units of product in a department, one-third completed. These units were finished and an additional 5,500 units were started and completed during the period. 840 units were still in process at the end of the period. One-fourth completed. Using the weighted-average valuation method the equivalent units produced by the department were: A. 6,730 units B. 6,680 units C. 7,360 units D. 6,390 Units E. 8,250 units

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 9EA: Using the weighted-average method, compute the equivalent units of production if the beginning...

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At the beginning of the recent period there were 1,080 units of product in a department, one-third completed. These units were finished and an additional 5,620 units were started and completed during the period. 960 units were still in process at the end of the period. One-fourth completed. Using the weighted-average valuation method the equivalent units produced by the department were____Units. Right Answer
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At the beginning of the recent period there were 1,080 units of product in a department, one-third completed. These units were finished and an additional 5,620 units were started and completed during the period. 960 units were still in process at the end of the period. One-fourth completed. Using the weighted-average valuation method the equivalent units produced by the department were____Units.
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At the beginning of the recent period, there were 900 units of product in a department. These units were finished and an additional 5,000 units were started and completed during the period. 800 units were still in process at the end of the period, one-fourth completed. Using the weighted average method, the equivalent units produced by the department were: a. 5,000 units. b. 5,900 units. c. 6,100 units. d. 5,500 units. e. 6,700 units.
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Ar the beginning of the recent period, there were 900 units of product in a department, one-third completed. These units were finished and an additional 5.000 units were started and completed during the period. 800 units were still in process at the end of the period, one-fourth completed. Using the FIFO valuation method, the equivalent units produced by the department were: (Show work on this test paper.) A. 6,700 units. B. 5,900 units. C. 5,800 units. D. 6,100 units. E. 8,500 units. 20. Wilson Corporation uses a process cost accounting system. The company manufactured certain goods at a cost of $800 and sold them on credit to Are Corporation for $1,075. The complete journal entry to be made by Wilson at the time of this sale is: (Analytical-Showing Work Not Required) Accounts Receivable-Are Corporation Cost of Goods Sold А. 1,075 800 Sales 1,075 800 Finished Goods Inventory Accounts Receivable-Are Corporation Finished Goods Inventory Sales 1,075 800 275 С. Cost of Goods Sold 1,075…
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Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units; 55,000 units were started in production; and 57,000 units were completed and transferred to finished goods inventory. For this process, materials are added at the beginning of the process, and the units are 35% complete with respect to conversion.
Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units, 55,000 units were started in production, and 57,000 units were completed and transferred to finished goods inventory. For this process, materials are 70% complete and the Units are 30% complete with respect to conversion.