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Q-1 The following data were provided by Boze Co. BWIP Units Percent complete conversion 100 75% Units started 10,000 EWIP 150 40% Assuming the LIFO method is used, what was the EUP for conversion cost? a. 10,250 b. 10,040 c. 9,935 d. 9,910 Q-2 Department for May, together with data concerning production, are as follows: May 1, work in process: Materials cost, 3,000 units $8,800 Conversion costs, 3,000 units, 50% completed 5,700 Materials added during May, 10,000 units 25,600 Conversion costs during May 31,900 Goods finished during May, 11,500 units 0 May 31 work in process, 1,500 units, 50% completed 0 All direct materials are placed in the process at the beginning, and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for May is: a. $3.19 b. $2.23 c. $2.56 d. $4.07

Q-1 The following data were provided by Boze Co. BWIP Units Percent complete conversion 100 75% Units started 10,000 EWIP 150 40% Assuming the LIFO method is used, what was the EUP for conversion cost? a. 10,250 b. 10,040 c. 9,935 d. 9,910 Q-2 Department for May, together with data concerning production, are as follows: May 1, work in process: Materials cost, 3,000 units $8,800 Conversion costs, 3,000 units, 50% completed 5,700 Materials added during May, 10,000 units 25,600 Conversion costs during May 31,900 Goods finished during May, 11,500 units 0 May 31 work in process, 1,500 units, 50% completed 0 All direct materials are placed in the process at the beginning, and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for May is: a. $3.19 b. $2.23 c. $2.56 d. $4.07

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Q-1 The following data were provided by Boze Co. BWIP Units Percent complete conversion 100 75% Units started 10,000 EWIP 150 40% Assuming the LIFO method is used, what was the EUP for conversion cost? a. 10,250 b. 10,040 c. 9,935 d. 9,910 Q-2 Department for May, together with data concerning production, are as follows: May 1, work in process: Materials cost, 3,000 units $8,800 Conversion costs, 3,000 units, 50% completed 5,700 Materials added during May, 10,000 units 25,600 Conversion costs during May 31,900 Goods finished during May, 11,500 units 0 May 31 work in process, 1,500 units, 50% completed 0 All direct materials are placed in the process at the beginning, and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for May is: a. $3.19 b. $2.23 c. $2.56 d. $4.07
Transcribed Image Text:Q-1 The following data were provided by Boze Co. BWIP Units Percent complete conversion 100 75% Units started 10,000 EWIP 150 40% Assuming the LIFO method is used, what was the EUP for conversion cost? a. 10,250 b. 10,040 c. 9,935 d. 9,910 Q-2 Department for May, together with data concerning production, are as follows: May 1, work in process: Materials cost, 3,000 units $8,800 Conversion costs, 3,000 units, 50% completed 5,700 Materials added during May, 10,000 units 25,600 Conversion costs during May 31,900 Goods finished during May, 11,500 units 0 May 31 work in process, 1,500 units, 50% completed 0 All direct materials are placed in the process at the beginning, and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for May is: a. $3.19 b. $2.23 c. $2.56 d. $4.07
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