cost. At the end of the year, under applied overhead might be explained by which of the following situations?
49. A standard cost system may be used in
50. During the current year, the following manufacturing activity took place for a company ' s products: Beginning work in process: 10,000 units, 70 % complete, Units started into production during the year: 150,000 units, Units completed during the year: 140,000 units, Ending work in process: 20,000 units, 25 % complete. What was the number of equivalent units produced using the first-in, first-out method?
51. Yarn Co.' s inventories in process were at the following stages of completion on April 30, 2004:
52. The forming department is the first of a two-stage production process. Spoilage is identified when the units have completed the forming process. The costs of spoiled units are assigned to units completed and transferred to the second department in the period when spoilage is identified. The following information concerns forming ' s conversion costs in May 2005: Using the weighted average method, what was forming ' s conversion cost transferred to the second production department?
53. Weighted average and first in, first out( FIFO) equivalent units would be the same in a period when which of the following occurs?
54. In computing the current period ' s manufacturing cost per equivalent unit, the FIFO method of process costing considers current period costs
55. Black, Inc. employs a weighted average method in its process costing system. Black ' s work in process inventory on June 30 consists of 40,000 units. These units are 100 % complete with respect to materials and 60 % complete with respect to conversion costs. The equivalent unit costs are $ 5.00 for