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Use the following information to answer question 5-7. Castle Company uses the weighted-average method in its process costing system. In the Cutting Department in June, units were four-fifths complete with respect to conversion in the beginning work in process inventory and one-third complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow: Units 25,000 140,000 Conversion Cost $30,000 S175,000 Beginning work in process inventory. Units started into production, and costs incurred during the month. Units completed and transferred out.. 135,000 5. Ending work in process inventory consists of: A. 25,000 units. B. 30,000 units. C. 35,000 units. D. 40,000 units. 6. The conversion cost per equivalent unit should be: A. $1.21 B. $1.30 C. $1.41 D. $1.52 7. The conversion cost assigned to ending work in process inventory amounts to: A. $36,300 B. $42,300 C. $45,500 D. $49,350

Use the following information to answer question 5-7. Castle Company uses the weighted-average method in its process costing system. In the Cutting Department in June, units were four-fifths complete with respect to conversion in the beginning work in process inventory and one-third complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow: Units 25,000 140,000 Conversion Cost $30,000 S175,000 Beginning work in process inventory. Units started into production, and costs incurred during the month. Units completed and transferred out.. 135,000 5. Ending work in process inventory consists of: A. 25,000 units. B. 30,000 units. C. 35,000 units. D. 40,000 units. 6. The conversion cost per equivalent unit should be: A. $1.21 B. $1.30 C. $1.41 D. $1.52 7. The conversion cost assigned to ending work in process inventory amounts to: A. $36,300 B. $42,300 C. $45,500 D. $49,350

Managerial Accounting
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 1CMA: During December, Krause Chemical Company had the following selected data concerning the manufacture...
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Use the following information to answer question 5-7. Castle Company uses the weighted-average method in its process costing system. In the Cutting Department in June, units were four-fifths complete with respect to conversion in the beginning work in process inventory and one-third complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow: Conversion Units Cost Beginning work in process inventory.. Units started into production, and costs incurred during the month. Units completed and transferred out.. 25,000 140,000 $30,000 S175,000 135,000 5. Ending work in process inventory consists of: A. 25,000 units. B. 30,000 units. C. 35,000 units. D. 40,000 units. 6. The conversion cost per equivalent unit should be: A. $1.21 B. $1.30 C. $1.41 D. $1.52 7. The conversion cost assigned to ending work in process inventory amounts to: A. $36,300 B. $42,300 C. $45,500 D. $49,350
Transcribed Image Text:Use the following information to answer question 5-7. Castle Company uses the weighted-average method in its process costing system. In the Cutting Department in June, units were four-fifths complete with respect to conversion in the beginning work in process inventory and one-third complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow: Conversion Units Cost Beginning work in process inventory.. Units started into production, and costs incurred during the month. Units completed and transferred out.. 25,000 140,000 $30,000 S175,000 135,000 5. Ending work in process inventory consists of: A. 25,000 units. B. 30,000 units. C. 35,000 units. D. 40,000 units. 6. The conversion cost per equivalent unit should be: A. $1.21 B. $1.30 C. $1.41 D. $1.52 7. The conversion cost assigned to ending work in process inventory amounts to: A. $36,300 B. $42,300 C. $45,500 D. $49,350
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