Central Missouri State UniversityCost & Managerial AccountingSAMPLE EXAM #2A Sample of the Types of Questions Dr. Fessler Asks on His Exams... (30 minute time limit)[Use the following information to solve questions 1 and 2]South River Chemical manufactures a product called Zbek. Direct materials are added at the beginning of the process, and conversion activity occurs uniformly throughout the process. The beginning work-in-process inventory is 60% complete with respect to conversion; the ending work-in-process inventory is 20% complete. The following data pertain to May:TotalUnitsDirectMaterialsConversionCostsWork in process, May 115,000Units started during May60,000Units completed and transferred out68,000Work in process, May 317,000Costs:Work in process, May 1$ 41,250$ 16,500$ 24,750Costs incurred during May234,63072,000162,630Totals$275,880$88,500$187,3801.Using the weighted-average method of process costing, the equivalent units of conversion activity are calculated to be:
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