Homework Answers
| Flow of units: | |||
| Units to be accounted for: | Physical units | ||
| Beg. WIP (M60%, C30%) | 12,000 | ||
| Units started | 110,000 | ||
| Total units to be accounted for | 122,000 | ||
| Equivalent units | |||
| Units accounted for as follows: | Materials | Conversion | |
| Completed & transferred out | 88,000 | 88,000 | |
| End. WIP (M90% , C50%) | 30,600 | 17,000 | |
| Total units accounted for | 118,600 | 105,000 | |
| Flow of costs: | |||
| Cost to be accounted for: | Total | Materials | Conversion |
| Beg. WIP costs | $74,900 | $44,400 | $30,500 |
| Cost added in current period | 1,148,100 | 548,600 | 599,500 |
| Total costs to be accounted for | $1,223,000 | $593,000 | $630,000 |
| Cost per EU | $5 | $6 | |
| Cost accounted for as follows: | |||
| Completed & transferred out | $968,000 | $440,000 (88,000*$5) | $528,000 (88,000*$6) |
| End. WIP | 255,000 | 153,000 (30,600*$5) | 102,000 (17,000*$6) |
| Total cost accounted for | $1,223,000 | $593,000 | $630,000 |
Add Answer to:
Geller Manufacturing uses a process cost system to manufacture sensors for the security industry. The following...
Kim Manufacturing uses a process cost system to manufacture Dust Density Sensors for the mining industry....
Kim Manufacturing uses a process cost system to manufacture Dust Density Sensors for the mining industry. The following information pertains to operations for the month of May Beginning work-in-process inventory, May1 16,000 units Started in production during May 100,000 Units Completed production during May 92,000 units Ending work-in-process inventory, May 31 24,000 units . The beginning inventory was 20% complete for materials and 60% complete for conversion costs. The ending inventory was 40% complete for materials and 90% complete for...
Additional Exercise 7.7 Process costing under weighted average, speliape, journal entries Victoria's Closet mass produces uxurious sleepwear for women. Consider the fellowing data for the F...
Additional Exercise 7.7 Process costing under weighted average, speliape, journal entries Victoria's Closet mass produces uxurious sleepwear for women. Consider the fellowing data for the Flannel Night Cown Department far the month of January. All direct materials are added at the beginning af production in the department, and converson costs are noned evergy throughout preduction Inspection occurs ณhen production as 100% completed Normal spoľa9e as 7,920 units for the month. Physical Units 13,200 88,800 Beginning WIP (25% complete) Started duting...
Kimbeth Manufacturing uses a process cost system to manufacture Dust Density Sensors for the mining industry.
Kimbeth Manufacturing uses a process cost system to manufacture Dust Density Sensors for the mining industry. The following information pertains to operations for the month of May.UnitsBeginning work-in-process inventory, May 116,000Started in production during May100,000Completed production during May92,000Ending work-in-process inventory, May 3124,000The beginning inventory was 60% complete for materials and 20% complete for conversion costs. The ending inventory was 90% complete for materials and 40% complete for conversion costs.Costs pertaining to the month of May are as follows:Beginning inventory costs...
please answer the followinf question. Process Costing (Cornerstone Pages): The mixing department of Seville Company uses...
please answer the followinf question.
Process Costing (Cornerstone Pages): The mixing department of Seville Company uses two processes, Blending and Cooking. The following information pertains to the Blending Department for February. Units in Beginning Work in Process (40% complete) Units Completed and Transferred Out Units in Ending Work in Process (60% complete) 100,000 370,000 50,000 Production Costs are as follows: Cost for Beginning WIP: Materials Conversion Total: $20,000 $40,000 $60,000 Current Costs: Materials Conversion Total: $200,000 $350,000 $550,000 * Note:...
Reutter, Inc. makes a single product and uses the FIFO method of process costing. The company’s...
Reutter, Inc. makes a single product and uses the FIFO method of
process costing. The company’s product goes through two processing
departments – Etching and Wiring – which completes the process.
This problem focuses on the Writing department which received the
‘etched’ products and then completes them by adding appropriate
writing. In Wiring, the direct materials are placed into production
when the process is 35% complete. Conversion costs are incurred
evenly throughout the process. The relevant information for April
is...
Victory Company uses weighted average process costing to account for its production costs. Conversion cost is...
Victory Company uses weighted average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 705,000 units of product to finished goods. At the end of November, the work in process inventory consists of 204,000 units that are 50% complete with respect to conversion. Beginning inventory had $354,510 of direct materials and version cost. The direct material cost added...
Bisson Furniture uses a process cost system to account for its chair factory. Beginning inventory consisted...
Bisson Furniture uses a process cost system to account for its
chair factory. Beginning inventory consisted of 5,000 units (100%
complete as to material, 55% complete as to labor) with a cost of
$124,800 materials and $104,500 conversion. 58,000 units were
started into production during the month with material costs of
$1,537,000 and $2,124,375 of conversion costs. The ending inventory
of 6,000 chairs was 100% complete as to materials and 40% complete
as to labor.
Required: HINT: Use the excel...
Reutter, Inc. makes a single product and uses the FIFO method of process costing. The company’s...
Reutter, Inc. makes a single product and uses the FIFO method of process costing. The company’s product goes through two processing departments – Etching and Wiring – which completes the process. This problem focuses on the Writing department which received the ‘etched’ products and then completes them by adding appropriate writing. In Wiring, the direct materials are placed into production when the process is 35% complete. Conversion costs are incurred evenly throughout the process. The relevant information for April is...
ACCT 301 Week 6 HW Exercise 4 Process cost system Step #1 Physical flow begin WIP...
ACCT 301 Week 6 HW Exercise 4 Process cost system Step #1 Physical flow begin WIP Started Transferred out End WIP 2000 4000 4000 The Finishing Department of Cosette Company has the following production and cost data for July 1 Beginning Inventory 4000 units 2 Transferred out, 4,000 units. Beginning 4000 units (a) Equivalent Units Physical Units Materials Conversion Costs 3 Started 2,000 units that are 40% completed at July 31. 4 Materials added, $30,000; conversion costs incurred, $19,200. Transferred...
Weighted Average Method, Journal Entries Muskoge Company uses a process-costing system. The company manufactures a product...
Weighted Average Method, Journal Entries Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department, direct materials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the production activity...
Additional Exercise 7.7 Process costing under weighted average, speliape, journal entries Victoria's Closet mass produces uxurious sleepwear for women. Consider the fellowing data for the Flannel Night Cown Department far the month of January. All direct materials are added at the beginning af production in the department, and converson costs are noned evergy throughout preduction Inspection occurs ณhen production as 100% completed Normal spoľa9e as 7,920 units for the month. Physical Units 13,200 88,800 Beginning WIP (25% complete) Started duting...
please answer the followinf question.
Process Costing (Cornerstone Pages): The mixing department of Seville Company uses two processes, Blending and Cooking. The following information pertains to the Blending Department for February. Units in Beginning Work in Process (40% complete) Units Completed and Transferred Out Units in Ending Work in Process (60% complete) 100,000 370,000 50,000 Production Costs are as follows: Cost for Beginning WIP: Materials Conversion Total: $20,000 $40,000 $60,000 Current Costs: Materials Conversion Total: $200,000 $350,000 $550,000 * Note:...
Reutter, Inc. makes a single product and uses the FIFO method of
process costing. The company’s product goes through two processing
departments – Etching and Wiring – which completes the process.
This problem focuses on the Writing department which received the
‘etched’ products and then completes them by adding appropriate
writing. In Wiring, the direct materials are placed into production
when the process is 35% complete. Conversion costs are incurred
evenly throughout the process. The relevant information for April
is...
Victory Company uses weighted average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 705,000 units of product to finished goods. At the end of November, the work in process inventory consists of 204,000 units that are 50% complete with respect to conversion. Beginning inventory had $354,510 of direct materials and version cost. The direct material cost added...
Bisson Furniture uses a process cost system to account for its
chair factory. Beginning inventory consisted of 5,000 units (100%
complete as to material, 55% complete as to labor) with a cost of
$124,800 materials and $104,500 conversion. 58,000 units were
started into production during the month with material costs of
$1,537,000 and $2,124,375 of conversion costs. The ending inventory
of 6,000 chairs was 100% complete as to materials and 40% complete
as to labor.
Required: HINT: Use the excel...
ACCT 301 Week 6 HW Exercise 4 Process cost system Step #1 Physical flow begin WIP Started Transferred out End WIP 2000 4000 4000 The Finishing Department of Cosette Company has the following production and cost data for July 1 Beginning Inventory 4000 units 2 Transferred out, 4,000 units. Beginning 4000 units (a) Equivalent Units Physical Units Materials Conversion Costs 3 Started 2,000 units that are 40% completed at July 31. 4 Materials added, $30,000; conversion costs incurred, $19,200. Transferred...
Most questions answered within 3 hours.
-
Let G be an undirected graph and let X be a subset of the
vertices of...
asked 11 minutes ago -
Calculate the effective radiation dosage in rems for a 75 ‑kg
person who is exposed to...
asked 28 minutes ago -
No matter how a company measures the benefits provided
by an online business implementation, it usually...
asked 7 minutes ago -
A circular (0.8 m diameter) footing with q=50 kN/m^2 is placed
on the ground surface. Compute...
asked 27 minutes ago -
Suppose there are 1000 students in a business administration
program. 620 students are in an IT...
asked 10 minutes ago -
An empty truck traveling at 10 km/h has kinetic energy. How much
kinetic energy does it...
asked 8 minutes ago -
Physicians add a special dimension to a governing board. What
are the important things to consider...
asked 24 minutes ago -
Rank the following titrations in order of increasing pH at the
halfway point to equivalence (1...
asked 20 minutes ago -
Mr. Smalley, who had been diagnosed as manic-depressive and had
been in and out of mental...
asked 22 minutes ago -
Determine the heat of combustion (ΔH2) for propane
(C3H8) using the bond energy table. HINT: you’ll...
asked 39 minutes ago -
1 Give the host id in binary for the following IP addresses
(assuming classful):
a) 130.11.6.9...
asked 41 minutes ago -
A concert loudspeaker suspended high off the ground emits 32 W
of sound power. A small...
asked 44 minutes ago