Austin Company | |||
Cost of Production Report-Department A | |||
For the Month Ended December 31 | |||
Unit Information | |||
Units charged to production: | |||
Inventory in process, December 1 | 12000 | ||
Received from materials storeroom | 14000 | ||
Total units accounted for by the Department A | 26000 | ||
Units to be assigned costs: | |||
Equivalent Units | |||
Whole Units | Direct Materials | Conversion | |
Inventory in process, December 1 | 12000 | 0 | 4800 |
Started and completed in December | 9000 | 9000 | 9000 |
Transferred to Department B in December | 21000 | 9000 | 13800 |
Inventory in process, December 31 | 5000 | 5000 | 2000 |
Total units to be assigned costs | 26000 | 14000 | 15800 |
Cost Information | |||
Costs per equivalent unit: | |||
Direct Materials | Conversion | ||
Total costs for December in Department A | 106400 | 70310 | |
Total equivalent units | 14000 | 15800 | |
Cost per equivalent unit | 7.60 | 4.45 | |
Costs charged to production: | |||
Direct Materials | Conversion | Total | |
Inventory in process, December 1 | 140400 | ||
Costs incurred in December | 176710 | ||
Total costs accounted for by the Department A | 317110 | ||
Cost allocated to completed and partially completed units: | |||
Inventory in process, December 1 balance | 140400 | ||
To complete inventory in process, December 1 | 0 | 21360 | 21360 |
Cost of completed December 1 work in process | 161760 | ||
Started and completed in December | 68400 | 40050 | 108450 |
Transferred to finished goods in December | 270210 | ||
Inventory in process, December 31 | 38000 | 8900 | 46900 |
Total costs assigned by the Department A | 317110 |
Austin Co. manufactures a product called Aster in a three-process series. All materials are introduced at...
Austin Co. manufactures a product called Aster in a
three-process series. All materials are introduced at the beginning
of the first process. Austin uses the first-in, first-out method of
inventory costing. Unit and cost data for the first process
(Department A) for the month of December follow:
Units
Completion
Cost
Work in process inventory:
December 1
12,000
60%
$140,400
December 31
5,000
40%
?
Started in December:
14,000
Direct materials cost
106,400
Conversion cost
70,310
Completed in December
21,000
?...
Austin Co. manufactures a product called Aster in a three-process serles. All materials are introduced at the beginning of the first process. Austin uses the first-in, first-out method of inventory costing. Unit and cost data for the first process (Department A) for the month of December follow Units Completion Cost Work in process inventory December 1 12,000 60% $140,400 December 31 5,000 40% Started in December 14,000 Direct materials cost 106,400 Conversion cost 70,310 Completed in December 21,000 Prepare Austin's...
Austin Comandatures a product called Aster in a three-process series. Al materials are introduced at the beginning of the first process Austin uses the f (Department A) for the month of December follow i rst out method of inventory costing unit and cost data for the first proces Units Completion Cost $140,400 Work in process inventory: December 1 December 31 Started in December Direct materials cost Conversion cost Completed in December 12,000 5,000 14,000 106,400 70,310 21,000 Prepare Austin's Department...
Austin Company manufactures a product called Aster in a three-process series. All materials are introduced at the beginning of the first process. Austin uses the first- first-out method of inventory costing. Unit and cost data for the first process (Department A) for the month of December follow: Units Completion Cost 60% 12,000 5,000 14,000 $140,400 7 Work in process inventory: December 1 December 31 Started in December Direct materials cost Conversion cost Completed in December 40% 106,400 70,310 ? 21,000...
Dover Chemical Company manufactures specialty chemicals by a series of three processes, all materials being introduced in the Distilling Department. From the Distilling Department, the materials pass through the Reaction and Filling departments, emerging as finished chemicals. The balance in the account Work in Process—Filling was as follows on January 1: Work in Process—Filling Department (2,200 units, 60% completed): Direct materials (2,200 x $12) $26,400 Conversion (2,200 x 60% x $7.8) 10,296 $36,696 The following costs were charged to Work...
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Stevens Company's inventory on March 1 and the costs charged to Work in Process—Department B during March are as follows: Beginning work in process, 12,000 units, 60% completed $ 62,400 From Department A, 55,000 units started this period Direct materials added 115,500 Direct labor incurred 384,916 Factory overhead incurred 138,000 During March, all direct materials were transferred from Department A, the units in process at March 1 were completed, and of the 55,000 units entering the department, all were completed...
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Austin Co. manufectures a product caled Aster in a three-precess seres All materials are intreduced et the beginning of the first process. Austin uses the frs-in, fiest-out method of Invertory cesting. Unit and cost data for the first process (Department A) for the momth of December follows Units Completion Cost Work in precess inventory Deceber 1 12,020 60% :40,400 December 31 5.000 40% Started in December: 14,00 Direct materiale cost 106.400 Conversion cost 70.310M Completed in December 21 000 Prepere...
Work in Process Account Data for Two Months; Cost of Production Reports Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process-Filling on April 1 and debits to the account during April were as follows: Bal., 800 units, 60% completed: Direct materials (800 x $5.80) $ 4,640 Conversion...