midterm_practice2_SP2020_answers.pdf - SOLUTIONS TO PRACTICE MIDTERM 2\u2013 MULTIPLE CHOICE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

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SOLUTIONS TO PRACTICE MIDTERM 2 MULTIPLE CHOICE 1. B 2. D 3. A 4. C 5. C 6. B 7. D 8. B 9. D 10. B 11. C 12. A 13. B 14. D 15. A 16. B 17. A 18. D 19. E 20. D \$6.25 (note: earliest downloads of this question contained an error) 21. D 22. D 23. A 24. D 25. B
SOLUTIONS TO WRITTEN PROBLEMS - PRACTICE MIDTERM 2 26. 27. Weighted-average method: a. Materials Conversion Units transferred to next department ........ 13,300 13,300 Ending work in process: ............................ Materials: 100 units × 50% .................... 50 Conversion: 100 units × 30% ................ 30 Equivalent units of production ................... 13,350 13,330 b. Materials Conversion Cost of beginning work in process ............ \$756 \$4,448 Cost added during the month .................... 29,949 362,127 Total cost (a) ............................................. \$30,705 \$366,575 Equivalent units (b) ................................... 13,350 13,330 Cost per equivalent unit (a) ÷ (b) .............. \$2.30 \$27.50 c. Materials Conversion Total Units completed and transferred out: Units transferred to the next department (a) ........... 13,300 13,300 Cost per equivalent unit (b) .................. \$2.30 \$27.50 Cost of ending work in process inventory (a) × (b) ............................................. \$30,590 \$365,750 \$396,340 d. Materials Conversion Total Ending work in process: ..............................................
Equivalent units of production (a) ............................ 50 30 Cost per equivalent unit (b) ..................................... \$2.30 \$27.50 Cost of units completed and transferred out (a) × (b) ................................................................ \$115 \$825