Question 11 (5 points)   The assembly department had beginning...

Question 11 (5 points)

 

The assembly department had beginning work in process of 20,000 units, ending work in process of 22,000 units and units transferred out of 68,000 units.  What was the number of units started or transferred in?

 

 

Question 12 (5 points)

 

Baltimore Manufacturing had a Work in Process balance of $71,000 on January 1, 2020. The year end balance of Work in Process was $98,000 and the Cost of Goods Manufactured was $900,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2020. Round to a whole number (no cents).

 

Question 15 (5 points)

 

During FY 2020 Bay Manufacturing had total manufacturing costs are $442,000. Their cost of goods manufactured for the year was $425,000.  The January 1, 2021 balance of Work-in-Process Inventory is $49,000. Use this information to determine the dollar amount of the FY 2020 beginning Work-in-Process Inventory. Round to a whole number (no cents).

 

Question 16 (5 points)

 

During March 2021, Virginia Bay Corporation recorded $275,000 of costs related to factory overhead.  Virginia Bay's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $259,000 would be incurred, and 8,600 direct labor hours would be worked.  During March, 11,000 hours were actually worked. Use this information to determine the standard overhead rate.  Round to closest cent.

 

Question 20 (5 points)

 

March 1, 2020, Dorchester Company's beginning work in process inventory had 9,000 units. This is its only production department. Beginning WIP units were 50% complete as to conversion costs. Dorchester introduces direct materials at the beginning of the production process.  During March, all beginning WIP was completed and an additional 18,500 units were started and completed. Dorchester also started but did not complete 5,500 units.  These units remained in ending WIP inventory and were 60% complete as to conversion costs. Dorchester uses the weighted average method. Use this information to determine for March 2020 the equivalent units of production for conversion costs. Round to whole number (no cents).