Question 3 . Question : ( TCO B ) Luft Company uses the weightedaverage method in its process costing system . Operating data for the first processing department for the month of June appear below . Units Percent Complete With Respect to Conversion Beginning work in process inventory 11,000 90 % Started in production during June 58,000 Ending work in process inventory 17,000 10 % According to the company ’ s records , the conversion cost in beginning work in process inventory was $ 79,893 at the beginning of June . Additional conversion costs of $ 343,830 were incurred in the department during the month . What was the cost per equivalent unit for conversion costs for the month ? ( Round to three decimal places .) Student Answer : $ 7.891 $ 8.070 $ 5.928 $ 4.584
Question 4 . Question : ( TCO B ) In a job-order costing system , the use of direct materials that have been previously purchased is recorded as a debit to Student Answer : raw materials . finished goods . work in process . manufacturing overhead .
Question 5 . Question : ( TCO B ) During October , Crusan Corporation incurred $ 62,000 of direct labor costs and $ 4,000 of indirect labor costs . The journal entry to record the accrual of these wages would include a Student Answer : debit to work in process of $ 66,000 . credit to work in process of $ 66,000 . credit to work in process of $ 62,000 . debit to work in process of $ 62,000 .
Question 6 . Question : ( TCO B ) During February , Degan Inc . transferred $ 60,000 from work in process to finished goods and