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Livingston Co

Accounting

Livingston Co. uses process costing to account for the production of elastic bands. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Beginning inventory consisted of $22,000 in materials and $24,000 in conversion costs. April costs were $80,000 for materials and $84,000 for conversion costs. During April 9,600 units were completed. Ending work in process inventory was 4,800 units (100% complete for materials, 50% for conversion). The equivalent cost per unit for materials using the weighted average method would be closest to: 
Multiple Choice 
O $14.420 O $7.083 O $1.750 O $5.930 
 

TryFit Co. uses process costing to account for the production of energy food bars. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Beginning inventory consisted of $18,000 in materials and $15,000 in conversion costs. April costs were $47,000 for materials and $51,000 for conversion costs. During April 19,000 units were completed. Ending work in process inventory was 15,000 units (100% complete for materials, 50% for conversion). The value of units completed and transferred out using the weighted average method would be closest to: (Round your intermediate calculations to four decimal places.) 
Multiple Choice 
O $99.612.20 
O $95,779.20 O $84,779.20 O $83,645.60 
 

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