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 materials and $7.00 for conversion
costs. What is the total cost of the June 30 work in process inventory?
56. A process costing system was used for a department that began
operations in January 2005. Approximately the same number of
physical units, at the same degree of completion, were in work in
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