Homework Answers
Answer 1:
Workings:
Answer 2:
Workings:
Answer 3:
Workings:
Answer 4:
Please workings in answer 3 above
Answer 5:
Please workings in answer 3 above
Answer 6:
Workings:
Answer 7:
Workings:
Cost per equivalent unit for material = Total Cost for material / EUP for material = $216,866 / 57,070 = $3.80
Answer 8:
Workings:
Cost per equivalent unit for material = Total Cost for conversion / EUP for conversion = $181,013 / 51,718 = $3.50
Answer 9:
Workings:
Total cost of units completed and transferred out = ($3.80 + $3.50) * 48,150 = $351,495
Answer 10:
Workings:
Total cost of units in ending WIP = $3.80 * 8920 + $3.50 * 3568 = $46,384
Add Answer to:
12,780 44,290 48,150 WIP beginning (30% for conversion) Units started Units completed and transferred out WIP...
Process costing Units Beginning WIP 10000 Started in Production 67000 Completed and transferred out 55000 Ending...
Process costing Units Beginning WIP 10000 Started in Production 67000 Completed and transferred out 55000 Ending WIP ???? Percent complete: Direct material 100% Conversion cost 30% Costs Beginning WIP Direct material 12000 Conversion cost 5000 Direct material cost added 160000 Conversion cost added Direct labor 30000 MOH 55000 Total Conversion cost added 83000 Prepare production cost report for assembly department
Exercise 6 Our Co's packaging department started April with a beginning WIP inventory of 90 units....
Exercise 6 Our Co's packaging department started April with a beginning WIP inventory of 90 units. During April, it transferred 540 units to finished goods and its ending WIP inventory consists of 60 units. Complete the physical unit flow information below. Physical Unit Flow Units to be accounted for: Beginning work in process Units started this period Total units to be account for Units accounted for as follows: Completed and transferred out Ending goods in process Total units accounted for...
Litres: Beginning work in process inventory 2,800 litres Started production 4,620 litres Completed and transferred out...
Litres: Beginning work in process inventory 2,800 litres Started production 4,620 litres Completed and transferred out to Packaging in March 6,420 litres Ending work in process inventory (80% of the way through the fermenting process) 1,000 litres Costs: Beginning work in process inventory ($2,200 of direct materials and $1,462 of conversion cost) $3,662 Costs added during March: Direct materials 10,414 Direct labour 950 Manufacturing overhead 1,920 Total costs added during March $13,284 1. Fill in the time line for the...
Percent Completed Units Materials Conversion Work-In-Process, Beginning 10,000 60% 30% Started into production 100,000 Completed and...
Percent Completed Units Materials Conversion Work-In-Process, Beginning 10,000 60% 30% Started into production 100,000 Completed and Transferred Out 95,000 Work-In-Process, Ending ? 60% 20% Work-In-Process, Beginning $22,600 $16,600 Costs added during period $133,400 $81,400 Using the weighted average process costing method what is the ending work-in-process physical units? Percent Completed Units Materials Conversion Work-In-Process, Beginning 10,000 60% 30% Started into production 100,000 Completed and Transferred Out 95,000 Work-In-Process, Ending ? 60% 20% Work-In-Process, Beginning $22,600 $16,600 Costs added during period...
compute the total costs of the units completed and transferred out to the packaging department Read...
compute the total costs of the units completed and transferred out
to the packaging department
Read the requirements. Month Ended March 31 Physical Units Equivalent Units Direct Conversion Materials Costs UNITS Units to account for: Beginning work-in-process Started in production 600 9,300 Total units to account for 9.900 Units accounted for: Completed and transferred out Ending work-in-process 4,800 5.100 4.800 5,100 4,800 4,080 Total units accounted for 9,900 9,900 8,880 Requirement 2. Compute the total costs of the units (gallons)...
Units to account for options: Beginning work-in process, Completed and transferred out, Ending work-in process, and...
Units to account for options: Beginning work-in process,
Completed and transferred out, Ending work-in process, and
Transferred in
AquaMate uses three processes to manufacture lifts for personal watercraft: forming a lift's parts from galvanized steel, assembling the lift, and testing the completed lift. (Click the icon to view additional information.) The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department. AquaMate uses weighted average process costing. Read the requirements. Requirement 1....
Production Report, No Beginning Inventory Softkin Company manufactures sun protection lotion. The Mixing Department, the first...
Production Report, No Beginning Inventory Softkin Company manufactures sun protection lotion. The Mixing Department, the first process department, mixes the chemicals required for the repellant. The following data are for the current year: Work in process, January 1 — Gallons started 450,000 Gallons transferred out 378,000 Direct materials cost $900,000 Direct labor cost $1,785,600 Overhead applied $2,678,400 Direct materials are added at the beginning of the process. Ending inventory is 95 percent complete with respect to direct labor and overhead....
i Data Table UNITS Beginning Work-in-Process Inventory Transferred in from Spinning Department during November Completed during...
i Data Table UNITS Beginning Work-in-Process Inventory Transferred in from Spinning Department during November Completed during November Ending work-in-Process (80% complete for conversion work) 85 rolls 580 rolls 530 rolls 135 rolls COSTS Beginning Work-in-Process Inventory (transferred in costs $4,100; materials cost, $1,825; conversion costs, $5,100) Transferred in from Spinning Department Materials cost added during November Conversion costs added during November (manufacturing wages, $8,880; manufacturing overhead allocated, $43,440) $ 11,025 19,840 9,480 52,320 Requirement 1. Prepare the November production cost...
the cor 0 Data Table curred - Εαι equival Physical Units Transferred-In Direct Conversion (tons) Costs...
the cor 0 Data Table curred - Εαι equival Physical Units Transferred-In Direct Conversion (tons) Costs Materials Costs 95 $ 95,000 $ 0 $ 28,500 100% 0% 40% nent 3 Ind your to the Work in process, beginning inventory (June 1) Degree of completion, beginning work in process Transferred-in during June Completed and transferred out during June Work in process, ending inventory (June 30) Degree of completion, ending work in process Total costs added during June ont of 100% ed...
800 gallons 8,400 gallons 7,700 gallons 1,500 gallons Gallons Beginning Work-in-Process Inventory Started in production Completed...
800 gallons 8,400 gallons 7,700 gallons 1,500 gallons Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in March Ending Work-in-Process Inventory (80% of the way through the fermenting process) Costs Beginning Work-in-Process Inventory: Direct materials Direct labor Manufacturing overhead allocated Costs added during March: Direct materials Direct labor $ 1,509 160 260 930 3,100 Manufacturing overhead allocated $ 12,641 Total costs added during March Jackson Winery in Pleasant Valley, New York, has two departments: Fermenting...
Process costing Units Beginning WIP 10000 Started in Production 67000 Completed and transferred out 55000 Ending WIP ???? Percent complete: Direct material 100% Conversion cost 30% Costs Beginning WIP Direct material 12000 Conversion cost 5000 Direct material cost added 160000 Conversion cost added Direct labor 30000 MOH 55000 Total Conversion cost added 83000 Prepare production cost report for assembly department
Exercise 6 Our Co's packaging department started April with a beginning WIP inventory of 90 units. During April, it transferred 540 units to finished goods and its ending WIP inventory consists of 60 units. Complete the physical unit flow information below. Physical Unit Flow Units to be accounted for: Beginning work in process Units started this period Total units to be account for Units accounted for as follows: Completed and transferred out Ending goods in process Total units accounted for...
compute the total costs of the units completed and transferred out
to the packaging department
Read the requirements. Month Ended March 31 Physical Units Equivalent Units Direct Conversion Materials Costs UNITS Units to account for: Beginning work-in-process Started in production 600 9,300 Total units to account for 9.900 Units accounted for: Completed and transferred out Ending work-in-process 4,800 5.100 4.800 5,100 4,800 4,080 Total units accounted for 9,900 9,900 8,880 Requirement 2. Compute the total costs of the units (gallons)...
Units to account for options: Beginning work-in process,
Completed and transferred out, Ending work-in process, and
Transferred in
AquaMate uses three processes to manufacture lifts for personal watercraft: forming a lift's parts from galvanized steel, assembling the lift, and testing the completed lift. (Click the icon to view additional information.) The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department. AquaMate uses weighted average process costing. Read the requirements. Requirement 1....
i Data Table UNITS Beginning Work-in-Process Inventory Transferred in from Spinning Department during November Completed during November Ending work-in-Process (80% complete for conversion work) 85 rolls 580 rolls 530 rolls 135 rolls COSTS Beginning Work-in-Process Inventory (transferred in costs $4,100; materials cost, $1,825; conversion costs, $5,100) Transferred in from Spinning Department Materials cost added during November Conversion costs added during November (manufacturing wages, $8,880; manufacturing overhead allocated, $43,440) $ 11,025 19,840 9,480 52,320 Requirement 1. Prepare the November production cost...
the cor 0 Data Table curred - Εαι equival Physical Units Transferred-In Direct Conversion (tons) Costs Materials Costs 95 $ 95,000 $ 0 $ 28,500 100% 0% 40% nent 3 Ind your to the Work in process, beginning inventory (June 1) Degree of completion, beginning work in process Transferred-in during June Completed and transferred out during June Work in process, ending inventory (June 30) Degree of completion, ending work in process Total costs added during June ont of 100% ed...
800 gallons 8,400 gallons 7,700 gallons 1,500 gallons Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in March Ending Work-in-Process Inventory (80% of the way through the fermenting process) Costs Beginning Work-in-Process Inventory: Direct materials Direct labor Manufacturing overhead allocated Costs added during March: Direct materials Direct labor $ 1,509 160 260 930 3,100 Manufacturing overhead allocated $ 12,641 Total costs added during March Jackson Winery in Pleasant Valley, New York, has two departments: Fermenting...
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