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March 1, 2020, Dorchester Company's beginning work in process...

  1. March 1, 2020, Dorchester Company's beginning work in process inventory had 5,000 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 16,500 units were started and completed. Dorchester also started but did not complete 10,500 units. These units remained in ending WIP inventory and were 50% 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).
  2. Baltimore Manufacturing had a Work in Process balance of $98,000 on January 1, 2020. The year end balance of Work in Process was $62,000 and the Cost of Goods Manufactured was $700,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2020. Round to a whole number (no cents).
  3. 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 $294,000 would be incurred, and 9,600 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.
  4. During FY 2020 Bay Manufacturing had total manufacturing costs are $424,000. Their cost of goods manufactured for the year was $475,000. The January 1, 2021 balance of Work-in-Process Inventory is $46,000. Use this information to determine the dollar amount of the FY 2020 beginning Work-in-Process Inventory. Round to a whole number (no cents).
  5. Annapolis Clothing Company manufactures quality boating attire. The following selected financial information for the fiscal year 2020 is provided:

Item Amount

Sales $200,000

Cost of Goods Manufactured 51,000

Direct Material Purchased 80,000

Factory Overhead 20,000

Work in Process - January 1 60,000

Work in Process - December 31 30,000

Direct Material - December 31 20,000

Finished Goods Inventory - December 31 53,000

Net Income 30,000

Direct Materials used 60,000

Cost of Goods Sold 69,000


Use this information to determine the dollar amount of Annapolis Clothing's Finished Goods Inventory for January 1, 2020. Round to a whole number (no cents).


6.Department B had 3,000 units in Work in Process that were 25% completed at the beginning of the period at a cost of $12,500. 13,700 units were started during the period. 15,000 units were completed during the period, and 1,700 units were 80% completed at the end of the period. All materials are added at the beginning of the process. Material cost was $15,400, direct labor was $32,450, and factory overhead was $18,710.The number of equivalent units of production for the period for conversion if the weighted average method is used to cost inventories was

Question 17 options:


A. 15,000


B. 16,360


C. 1,700


D. 13,700


7.Dorchester Company, on March 1, 2021 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. On March 1, Dorchester started into production 16,500 units. At the end of the month there were 11,000 units completed and transferred into the Finished Goods Inventory. The ending WIP was 50% complete with respect to conversion. For the month of March the following costs were incurred and recorded in the WIP:

            Direct Material                      $16,000

            Direct Labor               32,000

            Factory Overhead          30,000

Dorchester uses the weighted-average process costing method. Use this information to determine the cost per equivalent unit of conversion for the month of March. Round answer to closest cent.

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