1.  During the month of February, the painting department pr…

1.  During the month of February, the painting department produced and transferred out 3,500 physical units.  Ending WIP had 1,000 physical units that were 50% complete with respect to materials costs and 40% complete with respect to conversion costs.  There was no beginning WIP.  Using the weighted average method for process costing, the total equivalent units for conversion costs would be:

24.  The Favini Company, which has only one product, has pro…

24.  The Favini Company, which has only one product, has provided the following data concerning its most recent month of operations.  What is the operating income for the month under Variable costing? (This information is also used to answer the next question).           Selling price                                    $ 141           Units in beginning inventory                0           Units produced                               6,200           Units sold                                        5,900           Units in ending inventory                 300           Variable costs per unit:                     Direct materials                                          $40                     Direct labor                                                 $47                     Variable manufacturing overhead             $ 4                      Variable selling and administrative           $ 7           Fixed costs:                      Fixed manufacturing overhead              $167,400                      Fixed selling and administrative             $  82,600