Sepulveda Corporation uses a process costing system to manufacture laptop PCs. The following information summarizes operations for its VeryLite model during the quarter ending March 31, Year 1: Direct Units Materials $ 60,000 Work-in-process inventory, January 1 Started during the quarter Completed during the quarter Work-in-process inventory, March 31 Costs added during the quarter 100 500 400 200 $840,000 Beginning work-in-process inventory was 50% complete for direct materials. Ending work-in-process in- ventory was 75% complete for direct materials. What were the equivalent units for direct materials for the quarter using the FIFO method? 1. 450 2. 500 4. 600 3. 550

Sepulveda Corporation uses a process costing system to manufacture laptop PCs. The following information summarizes operations for its VeryLite model during the quarter ending March 31, Year 1: Direct Units Materials $ 60,000 Work-in-process inventory, January 1 Started during the quarter Completed during the quarter Work-in-process inventory, March 31 Costs added during the quarter 100 500 400 200 $840,000 Beginning work-in-process inventory was 50% complete for direct materials. Ending work-in-process in- ventory was 75% complete for direct materials. What were the equivalent units for direct materials for the quarter using the FIFO method? 1. 450 2. 500 4. 600 3. 550

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 3CMA: Kimbeth Manufacturing uses a process cost system to manufacture dust density sensors for the mining...

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Loanstar had 100 units in beginning inventory before starting 950 units and completing 800 units. The beginning work in process inventory consisted of $2,000 in materials and $500O in conversion costs before $8.500 of materials and $11,200 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 40% complete with regard to conversion costs. Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department.
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