Sparky Corporation uses the weighted-average method of process
costing. The following information is available for February in its
Molding Department:
Units:
Beginning Inventory: 33,000 units, 100% complete as to materials
and 60% complete as to conversion.
Units started and completed: 124,000.
Units completed and transferred out: 157,000.
Ending Inventory: 33,500 units, 100% complete as to materials and
25% complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials:
$50,000.
Costs in beginning Work in Process - Conversion: $55,850.
Costs incurred in February - Direct Materials: $339,610.
Costs incurred in February - Conversion: $606,150.
Equivalent Units: | Units (a) | Materials | Conversion | ||
% (b) | Units (a*b) | % (c ) | Units (a*c) | ||
Units completed and transferred out | 157,000 | 100% | 157,000 | 100% | 157,000 |
Ending Inventory | 33,500 | 100% | 33,500 | 25% | 8,375 |
Equivalent Units | 190,500 | 165,375 |
Materials | Conversion | |
Costs in Beginning work-in process | $50,000 | $55,850 |
Add: Costs incurred in February | $339,610 | $606,150 |
Total Costs (a) | $389,610 | $662,000 |
Total Equivalent Units (b) | 190,500 | 165,375 |
Cost per Equivalent unit (a/b) | $2.05 | $4.00 |
Therefore, cost per equivalent unit for materials is $2.05 and for conversion is $4.00.
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 110,000. Units completed and transferred out: 135,000. Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $43,000. Costs in beginning Work in Process -...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 38,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 136,000. Units completed and transferred out: 174,000. Ending Inventory: 36,500 units, 100% complete as to materials and 25% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $56,000. Costs in beginning Work in Process -...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 30,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 120,000. Units completed and transferred out: 150,000. Ending Inventory: 32,500 units, 100% complete as to materials and 30% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $48,000. Costs in beginning Work in Process -...
Sparky Corporation uses the weighted average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 110,000. Units completed and transferred out: 135,000. Ending Inventory: 30,000 units, 100% complete as to materials and 45% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $43,000. Costs in beginning Work in Process...
18. Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 31,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 122,000. Units completed and transferred out: 153,000. Ending Inventory: 33,000 units, 100% complete as to materials and 30% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $49,000. Costs in beginning Work in Process...
Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 110,000. Units completed and transferred out: 135,000. Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $43,000. Costs in beginning Work in Process -...
sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department Units: Beginning Inventory: 34,000 units, 100% complete as to materials and 55% complete as to conversion Units started and completed: 128,000. Units completed and transferred out: 162,000. Ending Inventory: 34,500 units, 100% complete as to materials and 35% complete as to conversion. X 3.50 Costs: Costs in beginning Work in Process - Direct Materials: $52,000 Costs in beginning Work in...
Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 110,000. Units completed and transferred out: 135,000. Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $43,000. Costs in beginning Work in Process -...
Sparky Corporation uses the welghted-average method of process costing. The following Information is avalable for February In Iits Molding Department Units Beginning Inventory 25,000 units, 100 % complete as to materials and 55% complete as to converslon. Units started and completed: 110,000 Units completed and transferred out: 135,000. Ending Inventory. 30,000 unts, 100% complete as to materials and 30% complete as to conversion. Costs Costs in beginning Work in Process Direct Materials: $43,000. Costs in beginning Work in Process-Conversion. $48,850....
Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 42,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 127,000. Units completed and transferred out: 169,000. Ending Inventory: 38,500 units, 100% complete as to materials and 25% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $60,000. Costs in beginning Work in Process -...