process at the end of both January and February. Monthly conversion costs are allocated between ending work in process and units completed. Compared to the FIFO method, would the weighted average method use the same or a greater number of equivalent units to calculate the monthly allocations?
57. In process 2, material G is added when a batch is 60 % complete. Ending work in process units, which are 50 % complete, would be included in the computation of equivalent units for
58. The following information pertains to Lap Co.' s Palo Division for the month of April: All materials are added at the beginning of the process. Using the weighted average method, the cost per equivalent unit for materials is
59. Which of the following is not a basic approach to allocating costs for costing inventory in joint-cost situations?
60. Kode Co. manufactures a major product that gives rise to a byproduct called May. May ' s only separable cost is a $ 1 selling cost when a unit is sold for $ 4. Kode accounts for May ' s sales by deducting the $ 3 net amount from the cost of goods sold of the major product. There are no inventories. If Kode were to change its method of accounting for May from a by-product to a joint product, what would be the effect on Kode ' s overall gross margin?
61. Mighty, Inc. processes chickens for distribution to major grocery chains. The two major products resulting from the production process are white breast meat and legs. Joint costs of $ 600,000 are incurred during standard production runs each month, which produce a total of 100,000 pounds of white breast meat and 50,000 pounds of legs. Each pound of white breast meat sells for $ 2 and each pound of legs sells for $ 1. If there are no further processing costs incurred after the split-off point, what amount of the joint costs would be allocated t
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