Question

QUESTION 3 Firstlused $10,000 in de materials and my podt Thenned 0.000 in director and con marchangel them is produt res de Cost of goods a35000 Fished Goods inventory 6000 Work in process inventory 10000 Raw Materials 10000 Work in process w ory 20000 Factory Payroll 70000 Work in process inversory 5000 Mandachung overhead S000 Finished Goods Inventory 35000 Work in Process Inventory 35000 QUESTION 4 costs and $150000 in co n co 3000 we I have 6000 E U nits of production for Direct Materials and $100 valentints of production for conversion costs have $48000 in derece transferred out ind correct answers The cost for event unit of production for direct materials is 16 16 and the materials colors and out is $24480 The cost for equivalent of production for conversion cost is $9.60 and the conversion cost for dem andered out is 524480 The cost for equivalent of production for conversion is $30 and the conversion cost for me transferred The cost for equivalent of production for direct material is 1960 and the local materials cost for den andered out is $40960 QUESTIONS MH has an average cos procesung im They manals at the beginning of the process Beginning work in process consisted of 2000 0 00 unts were started but 1500 were not compiled The 10500 Units to be accounted for Equivalents for materials Equivalent units for conversion costs C7000 D.5625 E. 8500 ere to search

Answer 1

QUESTION 3:
Cost of goods sold	$             35,000
Finished goods inventory		$         35,000
QUESTION 4:
Cost per EUP for materials = 48960/6000 =	$                 8.16
Total materials cost for items transferred out = 8.16*3000 =	$             24,480
Cost per EUP for labor = 153000/5100 =	$               30.00
Total materials cost for items transferred out = 30*3000 =	$             90,000
The two correct answers are the 1st and 3rd
statements.
QUESTION 5:
Units to be accounted for = 2000+7000 =	9000	[A]
Equivalent units for materials = 5500+1500 =	7000	[C]
Equivalent units for conversion costs = 5500+1500*75% =	6625	[D]
Note:
The question says average cost processing
system, but, the options are for FIFO. Hence,
answers are found out using FIFO.
The options are not for weighted average.