process solutions - Cherrington Company uses a process...

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Cherrington Company uses a process costing system. For May, the month just completed, the beginning work in process inventory consisted of 50,000 units which were 60% complete with respect to conversion costs. The ending inventory for the month was 20% complete with respect to conversion costs. A summary of cost data for the month follows: 1. Assuming that Cherrington Company uses the weighted-average method, what is the cost per equivalent unit for conversion costs for May to the nearest whole cent? A. $4.19 B. $4.00 C. $3.64 D. $3.83
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2. Assuming that Cherrington Company uses the FIFO method, what is the cost per equivalent unit for conversion costs for May to the nearest cent? A. $4.31 B. $3.49 C. $4.29 D. $4.11
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3. The Morgan Company uses the weighted-average method in its process costing system. For a particular department, the company had 54,000 equivalent units with respect to conversion costs in March. There were 7,500 units in the department's beginning work in process inventory, two thirds complete with
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This document was uploaded on 11/03/2011 for the course ACCOUNTING 451 at Rutgers.

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process solutions - Cherrington Company uses a process...

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