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COST ACCOUNTING AND COST CONTROL
Final Exam

I. MULTIPLE CHOICE PROBLEMS. (Items 1-24) Choose the correct answer from the choices given in each numbered question.

Chapman Corporation
The following information is available for Chapman Corporation for the current month:

|Started this month |80,000 |units |
|Beginning WIP | | |
|(40% complete) |7,500 |units |
|Normal spoilage (discrete) |1,100 |units |
|Abnormal spoilage |900 |units |
|Ending WIP | | |
|(70% complete) |13,000 |units |
|Transferred out |72,500 |units |
|Beginning Work in Process Costs: | | |
|Material |$10,400 | |
|Conversion |13,800 | |
|Current Costs: | | |
|Material |$120,000 | |
|Conversion |350,000 | |

All materials are added at the start of production and the inspection point is at the end of the process.

1. Refer to Chapman Corporation. What are equivalent units of production for material using FIFO?
|a. |80,000