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cost managment

Question 4 2 pts Select all of the following that are likely to be costed using process costing: Tooth floss A block of milk chocolate Legal services A custom stained glass window Question 5 2 pts Pop-it produces mass produced flavoured popcorn with the following materials added at various stages of the production process: Direct Material: Stage added: Corn beginning of production Flavouring 30% complete Packaging 90% complete Conversion costs are incurred uniformly throughout the production process. In June the opening WIP contains units that are 60% complete. Indicate in the following table which costs have been incurred for these units in opening WIP (for each row select the appropriate answer from the drop- down options): Manufacturing cost type % Cost incurred in opening WIP? Com [Select) Yes, 90% Yes, 60% Flavouring Yes, 100% No, 0% Yes, 30% Packaging Direct Labour Select) Manufacturing Overhead (Select] Question 6 1 pts Sunshine Ltd, manufactures a variety of beach towels. The following information was provided for the month of May: On May 1st The Weaving Department had 2,142 units in work in process, which were 30% complete. 7,628 units were completed and transferred out during the month of May. On May 31st, 3,505 units remained in work in process, which were 70% complete. Conversion costs are incurred uniformly throughout the process. The company uses the weighted average method for process costing. Calculate the total equivalent units of conversion for the month of May. Enter your answer to 2 decimal places. Question 7 1 pts $ $ Direct Material 1 % Complete Physical Total $ Equivalent units units Beginning balance WIP 30% 3,000 $7,000 3,000 Units started (current costs) 9,000 $33,600 9,000 Total to account for 12,000 $40,600 12,000 Equivalent cost rates Units completed/Transferred out 7,000 (COGM) Ending balance WIP 80% 5,000 5.000 Total to account for 12,000 12,000 Above is a partially completed process costing template that you can also download in excel Assuming the company uses the FIFO method, calculate the equivalent cost rate of Direct Material 2 Enter your final answer to 2 decimal places. 7,000

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