Homework Answers
Requirement a:
| Units completed and transferred out | ||
| Work in process: Feb 1 | 26,700 | Units |
| Units started | 80,400 | Units |
| Work in process: Feb 28 | -15,400 | Units |
| Units completed and transferred out | 91,700 | Units |
Requirement b:
| Equivalent units | ||
| Materials | Conversion | |
| Units completed and transferred out | 91,700 | 91,700 |
| Work in process, Feb 28 | ||
| [15,400 x 100%] | 15,400 | |
| [15,400 x 20%] | 3,080 | |
| Total Equivalent units | 107,100 | 94,780 |
Requirement c:
| Cost per equivalent unit | ||
| Materials | Conversion | |
| Work in process cost, Feb 1 | $37,000 | $32,000 |
| February costs | $129,000 | $236,000 |
| Total costs | $166,000 | $268,000 |
| ÷ Total equivalent units | 107,100 | 94,780 |
| = Equivalent units | $1.5500 | $2.8276 |
Requirement d:
| Dollar amount of units transferred to finished goods | |||
| Materials | Conversion | Total | |
| Units completed and transferred out | 91,700 | 91,700 | |
| x Equivalent units | $1.5500 | $2.8276 | |
| =Transferred to finished goods | $142,135.0000 | $259,290.9200 | $401,425.9200 |
Requirement e:
| Cost of ending work in process | |||
| Materials | Conversion | Total | |
| Equivalent units of ending work in process | 15,400 | 3,080 | |
| x Equivalent units | $1.5500 | $2.8276 | |
| = Ending work in process | $23,869.2810 | $8,709.0080 | $32,578.2890 |
Add Answer to:
Sierra Co. has provided the following information: 9 99 Work in Process: Feb 1 (100% complete...
Sierra Co. has provided the following information: 25,200 units $ 36,000 $ 24,900 81,000 units Work...
Sierra Co. has provided the following information: 25,200 units $ 36,000 $ 24,900 81,000 units Work in Process: Feb 1 (100% complete for materials, 60% complete for conversion) Materials Conversion Units started February costs Materials Conversion Work in Process: Feb 28 (100% complete for materials, 20% complete for conversion) $123,000 $ 246,000 15,600 units Using the weighted average method of process costing, complete each of the following: a. How many units were completed and transferred to Finished Goods? Units completed...
Sierra Co. has provided the following information: 25,300 units $ 36,200 $ 32,200 80,800 units Work...
Sierra Co. has provided the following information: 25,300 units $ 36,200 $ 32,200 80,800 units Work in Process: Feb 1 (1008 complete for materials, 60% complete for conversion) Materials Conversion Units started February costs Materials Conversion Work in Process: Feb 28 (100% complete for materials, 20% complete for conversion) $126,000 $ 251,000 16,600 units Using the weighted average method of process costing, complete each of the following: a. How many units were completed and transferred to Finished Goods? Units completed...
Kramer Corp. began the current period with 4,100 units in process that were 100% complete as...
Kramer Corp. began the current period with 4,100 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,600 in direct materials and $4,840 in conversion costs were incurred in manufacturing those units in the previous period, Kramer ended the current period with 20700 units completed and 5,140 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $69,500 in...
Kramer Corp. began the current period with 4,090 units in process that were 100% complete as...
Kramer Corp. began the current period with 4,090 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,670 in direct materials and $4,770 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 21,200 units completed and 5,070 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $68,100 in...
Costs Units 40,000 $ 42,000 97,000 $ 139,000 66,000 Beginning work in process (26% complete) Direct...
Costs Units 40,000 $ 42,000 97,000 $ 139,000 66,000 Beginning work in process (26% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (52% complete) Current period costs Direct materials Conversion cost Total current period costs 88,000 $ 99,000 148,000 $ 247,000 Required: 1 & 2. Using the weighted average method of process costing, complete each of the following steps:...
Legacy Company manufactures umbrellas and has the following information available for the month of May Work in process,...
Legacy Company manufactures umbrellas and has the following information available for the month of May Work in process, May 1 (100% complete for materials, 86% for conversion) Direct materials Conversion cost 78,000 units $131,000 $176,000 Number of units started 183,000 units May costs Direct materials Conversion cost $200,000 $377,000 Work in process, May 31 (100% complete for materials, 22% for conversion) 57,000 units Required: Using the weighted-average method of process costing, complete each the following steps: 1. Reconcile the number...
USING FIFO Check my Alvis Construction Supply Company has a department that manufactures wood trusses (wood...
USING FIFO
Check my Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction industry). The following information is for the production of these trusses for the month of February Work-in-process inventory, February 1 Direct materials: ieex complete Conversion: 3e% complete Units started during February Units completed during February and transferred out Work-in-process inventory, February 29 Direct materials: les complete Conversion: 38% complete Costs incurred during February Direct materials Conversion 4,600 trusses $11,089...
Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, LO4-4, LO4.5] [The following information applies to the...
Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, LO4-4, LO4.5] [The following information applies to the questions displayed below.) Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Work in Process-Mixing...
Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4, L04-5] [The following information applies to the...
Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4, L04-5] [The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Work in Process-Mixing...
Silver Company manufactures kites and has the following information available for the month of April: Work...
Silver Company manufactures kites and has the following
information available for the month of April:
Work in process, April 1
(100% complete for materials, 40% for conversion)
44,000
units
Direct materials
$
72,000
Conversion cost
$
102,000
Number of units started
150,000
units
April costs
Direct materials
$
218,000
Conversion cost
$
328,000
Work in process, April 30
(100% complete for materials, 20% for conversion)
76,000
units
Required:
Using the weighted-average method, complete each of the
following steps:
2. Calculate...
Sierra Co. has provided the following information: 25,200 units $ 36,000 $ 24,900 81,000 units Work in Process: Feb 1 (100% complete for materials, 60% complete for conversion) Materials Conversion Units started February costs Materials Conversion Work in Process: Feb 28 (100% complete for materials, 20% complete for conversion) $123,000 $ 246,000 15,600 units Using the weighted average method of process costing, complete each of the following: a. How many units were completed and transferred to Finished Goods? Units completed...
Sierra Co. has provided the following information: 25,300 units $ 36,200 $ 32,200 80,800 units Work in Process: Feb 1 (1008 complete for materials, 60% complete for conversion) Materials Conversion Units started February costs Materials Conversion Work in Process: Feb 28 (100% complete for materials, 20% complete for conversion) $126,000 $ 251,000 16,600 units Using the weighted average method of process costing, complete each of the following: a. How many units were completed and transferred to Finished Goods? Units completed...
Kramer Corp. began the current period with 4,100 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,600 in direct materials and $4,840 in conversion costs were incurred in manufacturing those units in the previous period, Kramer ended the current period with 20700 units completed and 5,140 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $69,500 in...
Kramer Corp. began the current period with 4,090 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,670 in direct materials and $4,770 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 21,200 units completed and 5,070 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $68,100 in...
Costs Units 40,000 $ 42,000 97,000 $ 139,000 66,000 Beginning work in process (26% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (52% complete) Current period costs Direct materials Conversion cost Total current period costs 88,000 $ 99,000 148,000 $ 247,000 Required: 1 & 2. Using the weighted average method of process costing, complete each of the following steps:...
Legacy Company manufactures umbrellas and has the following information available for the month of May Work in process, May 1 (100% complete for materials, 86% for conversion) Direct materials Conversion cost 78,000 units $131,000 $176,000 Number of units started 183,000 units May costs Direct materials Conversion cost $200,000 $377,000 Work in process, May 31 (100% complete for materials, 22% for conversion) 57,000 units Required: Using the weighted-average method of process costing, complete each the following steps: 1. Reconcile the number...
USING FIFO
Check my Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction industry). The following information is for the production of these trusses for the month of February Work-in-process inventory, February 1 Direct materials: ieex complete Conversion: 3e% complete Units started during February Units completed during February and transferred out Work-in-process inventory, February 29 Direct materials: les complete Conversion: 38% complete Costs incurred during February Direct materials Conversion 4,600 trusses $11,089...
Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, LO4-4, LO4.5] [The following information applies to the questions displayed below.) Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Work in Process-Mixing...
Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4, L04-5] [The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Work in Process-Mixing...
Silver Company manufactures kites and has the following
information available for the month of April:
Work in process, April 1
(100% complete for materials, 40% for conversion)
44,000
units
Direct materials
$
72,000
Conversion cost
$
102,000
Number of units started
150,000
units
April costs
Direct materials
$
218,000
Conversion cost
$
328,000
Work in process, April 30
(100% complete for materials, 20% for conversion)
76,000
units
Required:
Using the weighted-average method, complete each of the
following steps:
2. Calculate...
Most questions answered within 3 hours.
-
The ΔGf0 values for HCO3- (aq),
CO32-(aq), and H+(aq) are -587.06,
-528.10 and 0 kJ mol-1,...
asked 5 minutes ago -
Southeast Soda Pop, Inc., has a new
fruit drink for which it has high hopes. John...
asked 7 minutes ago -
Time (s)
Position (m)
0
0
1
3
2
8
3
15
An object travels along...
asked 19 minutes ago -
A 4.298 g sample of the mineral tellurite (TeO2) was dissolved
in acid. A 50.00 mL...
asked 20 minutes ago -
The owner of a newsstand in a college community estimates the
weekly demand for a certain...
asked 23 minutes ago -
Part A 0.080 M in HNO3 and 0.185 M in HC7H5O2 Express your
answer to two...
asked 43 minutes ago -
10) A bungee cord measures 30 m when relaxed and has negligible
mass. When it is...
asked 50 minutes ago -
Problem 5-48 Low Financing or Cash Back? (LG5-4, LG5-9)
A car company is offering a choice...
asked 49 minutes ago -
The screen size of a TV is given by the length of the
rectangular diagonal.
Traditional...
asked 50 minutes ago -
The zinc within a copper-plated penny will dissolve in
hydrochloric acid if the copper coating is...
asked 1 hour ago -
In 2 pages “If you are what you eat, then what does it
mean that the...
asked 1 hour ago -
Cable TV choices: A telecommunications company provided its
cable TV subscribers with free access to a...
asked 1 hour ago