Homework Answers
Note : As HOMEWORKLIB RULES honor code if more than one questions is asked we are to answer one question here i am answering two questions 4 and 7 hope you understand
Answer 4. D. start and Complete a unit
as
Equivalent cost of conversion means the cost which will be incurred in completing a unit in all respect from start till end
hence answer is D. start and complete a unit
Answer 7. B..current costs plus cost of beginning work-in-process inventory
as
Under weighted average cost method to calculate cost per unit of equivalent only the cost incurred in current process as well as cost of beginning work in process inventory are considered all other option given gives opposite statement so wrong and B is the correct option
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4. An equivalent unit of conversion costs is equal to the amount of conversion coses required...
the cost per equivalent unit for conversion costs for the first department for the month is...
the cost per equivalent unit for conversion costs for the
first department for the month is closest to:
Heller Corporation uses the weighted average method in its process costing system.D first processing department for the most recent month are listed below: in its process costing system. Data concerning the Beginning work in process inventory: Units in beginning work in process inventory ........... Materials costs......... Conversion costs...................... Percent complete with respect to materials........ Percent complete with respect to conversion...... Units started...
The costs per equivalent unit of direct materials and conversion in the Bottling Department of Rocky...
The costs per equivalent unit of direct materials and conversion in the Bottling Department of Rocky Springs Beverage Company are $2.55 and $1.4, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 1,700 Started and completed during the period 34,000 34,000 Transferred out of Bottling (completed) 34,000 35,700 Inventory in process, end of period 2,000 800 Total units to be assigned costs 36,000 36,500 The beginning...
Questions: 1. Compute the equivalent units of production for materials and conversion costs for the month...
Questions:
1. Compute the equivalent units of production for materials and
conversion costs for the month of September.
The equivalent units of production
Materials:
Conversion Costs:
?
?
2. Compute the unit costs for materials and conversion costs for
the month. (round unit costs to 2 decimals places)
Unit Costs
Materials:
Conversion Costs:
?
?
3. Determine the costs to be assigned to the units transferred
out and in process. (round unit costs to 2 decimal places)
Transferred out:
$...
Calculate the cost per equivalent unit of material and conversion cost for January - using the...
Calculate the cost per equivalent unit of material and conversion cost for January - using the Weighted Average Approach Units Materials Conversion Work in process January 1 2,500 50% 35% Work in process January 31 45% 25% Materials cost in work in process January 1 $25,000 Conversion costs in work in process January 1 $10,000 Units started in production 12,000 Units transferred to the next department 8,000 Materials cost added during January $20,000 Conversion costs added during January $7,500 Complete...
The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus...
The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $0.75 and $2.65, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 2,000 50,000 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 50,000 50,000 4,000 54,000 52,000 1,600 Total units to be assigned costs 53,600 The beginning work in process inventory on...
The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus...
The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $2.05 and $0.40, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 0 2,700 Started and completed during October 54,000 54,000 Transferred out of Rolling (completed) 54,000 56,700 Inventory in process, October 31 4,000 1,600 Total units to be assigned costs 58,000 58,300 The beginning work in process inventory...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $0.40 and $0.10, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 1,600 Started and completed during the period 42,000 42,000 Transferred out of Filling (completed) 42,000 43,600 Inventory in process, end of period 8,000 2,000 Total...
The cost per equivalent unit of direct materials and conversion in the Bottling Department of Mountain...
The cost per equivalent unit of direct materials and conversion in the Bottling Department of Mountain Springs Water Company is $0.45 and $0.12, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 3,500 Started and completed during the period 57,000 57,000 Transferred out of Bottling (completed) 57,000 60,500 Inventory in process, end of period 3,500 1,800 Total units and costs...
Costs Materials Conversion Costs Total Unit costs Total Costs Equivalent units Unit costs Costs to be...
Costs Materials Conversion Costs Total Unit costs Total Costs Equivalent units Unit costs Costs to be accounted for Work in process, February 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, February 28 Materials Conversion costs Total costs Click if you would like to Show Work for this question: Open Show Work Exercise 3-13 (Video) The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2020....
LIM Unit 4 Process Costing Steps in Determining the Weighted Average Costs for Process Costing 1....
LIM Unit 4 Process Costing Steps in Determining the Weighted Average Costs for Process Costing 1. Recap Costs 2. Determine the physical flow of units - how many physical units did you work on? 3. Determine EUP 1. For materials (always at 100%) 2. For conversion costs (direct labor and overhead) 4. Determine the unit cost 1. For materials 2. For conversion costs 3. And total 5. Allocate the costs incurred to goods 1. Finished and not finished 6. Reconcile...
the cost per equivalent unit for conversion costs for the
first department for the month is closest to:
Heller Corporation uses the weighted average method in its process costing system.D first processing department for the most recent month are listed below: in its process costing system. Data concerning the Beginning work in process inventory: Units in beginning work in process inventory ........... Materials costs......... Conversion costs...................... Percent complete with respect to materials........ Percent complete with respect to conversion...... Units started...
Questions:
1. Compute the equivalent units of production for materials and
conversion costs for the month of September.
The equivalent units of production
Materials:
Conversion Costs:
?
?
2. Compute the unit costs for materials and conversion costs for
the month. (round unit costs to 2 decimals places)
Unit Costs
Materials:
Conversion Costs:
?
?
3. Determine the costs to be assigned to the units transferred
out and in process. (round unit costs to 2 decimal places)
Transferred out:
$...
The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $0.75 and $2.65, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 2,000 50,000 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 50,000 50,000 4,000 54,000 52,000 1,600 Total units to be assigned costs 53,600 The beginning work in process inventory on...
The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $2.05 and $0.40, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 0 2,700 Started and completed during October 54,000 54,000 Transferred out of Rolling (completed) 54,000 56,700 Inventory in process, October 31 4,000 1,600 Total units to be assigned costs 58,000 58,300 The beginning work in process inventory...
Costs Materials Conversion Costs Total Unit costs Total Costs Equivalent units Unit costs Costs to be accounted for Work in process, February 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, February 28 Materials Conversion costs Total costs Click if you would like to Show Work for this question: Open Show Work Exercise 3-13 (Video) The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2020....
LIM Unit 4 Process Costing Steps in Determining the Weighted Average Costs for Process Costing 1. Recap Costs 2. Determine the physical flow of units - how many physical units did you work on? 3. Determine EUP 1. For materials (always at 100%) 2. For conversion costs (direct labor and overhead) 4. Determine the unit cost 1. For materials 2. For conversion costs 3. And total 5. Allocate the costs incurred to goods 1. Finished and not finished 6. Reconcile...
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