SampleCostExam2_1

SampleCostExam2_1 - Central Missouri State University Cost...

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Central Missouri State University Cost & Managerial Accounting SAMPLE EXAM #2 A 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: Total Units Direct Materials Conversion Costs Work in process, May 1 15,000 Units started during May 60,000 Units completed and transferred out 68,000 Work in process, May 31 7,000 Costs: Work in process, May 1 $ 41,250 $ 16,500 $ 24,750 Costs incurred during May 234,630 72,000 162,630 Totals $275,880 $88,500 $187,380 1. Using the weighted-average method of process costing, the equivalent units of conversion activity are calculated to be:
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