Title Costing Systems - Solved Problems.pdf ✅

Use the following information to solve the questions from 1-7 Hana Corporation produces a product through two processes: Molding and Packaging. Hana company uses the Weighted Average Method. Materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Production and cost data for the Molding Department for July 2023 are presented below. Choose the best answer for each of the following Production Data: Work in process units, July 1 (60%) Units started into production. Work in process units, July 31 (30%) 500 1,000 600 Cost Data: Beginning Work in process Direct Materials Conversion costs Added costs during July : Direct Materials Conversion costs $750 600 2,400 2,640
1. The units completed and transferred out. a. 1,500 u b. 1,600 u c. 900 u d. 1,000 u 2. The equivalent units-material. a. 1,500 u b. 900 u c. 1,000 u d. 1,080 u 3. The equivalent units-conversion costs. a. 1,320 u b. 1,080 u c. 1,500 u d. 930 u 4. The cost per equivalent unit – material. a. $5.25 b. $3.50 c. $0.50 d. $2.10 5. The cost per equivalent unit – conversion costs. a. $3.0 b. $3.60 c. $3.48 d. $2.84 6. The total cost assigned to ending work-in-process. a. $918 b. $1,800 c. $2,142 d. $3,060 7. The total costs of units accounted for: a. $4,590 b. $6,390 c. $7,650 d. $1,800