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 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