1) | |
Units (a) | |
Units completed and transferred out | 70,000 |
Ending Work-in process inventory, 7/31 | 30,000 |
Units accounted for | 100,000 |
2) | Materials | Conversion | |||
Units (a) | % (b) | Equivalent Units (a*b) | % (c ) | Equivalent Units (a*c) | |
Units completed and transferred out | 70,000 | 100% | 70,000 | 100% | 70,000 |
Ending Work-in process inventory, 7/31 | 30,000 | 100% | 30,000 | 30% | 9,000 |
Totals | 100,000 | 100,000 | 79,000 |
3) | Materials | Conversion | Total |
Work-in process inventory, beginning | $80,000 | $13,000 | $93,000 |
Add: Costs added during the month | $190,000 | $137,100 | $327,100 |
Total Costs accounts for equivalent units (a) | $270,000 | $150,100 | $420,100 |
Equivalent units of production (b) | 100,000 | 79,000 | 179,000 |
Cost per equivalent unit (a/b) | $2.70 | $1.90 | $2.35 |
Cost per equivalent unit (a) | Equivalent Units (b) | Costs assigned to 70,000 units | |
Materials | $2.70 | 70,000 | $189,000 |
Conversion | $1.90 | 70,000 | $133,000 |
Total costs assigned to 70,000 units that were transferred out | $322,000 |
4) | Cost per equivalent unit (a) | Equivalent Units (b) | Costs assigned to 70,000 units |
Materials | $2.70 | 30,000 | $81,000 |
Conversion | $1.90 | 9,000 | $17,100 |
Total costs assigned Inventory as on July 31st | $98,100 |
DBD0 8 D = Home Insert Mailings Review View Design Layout References 11 - A- A...
Coca-Cola uses a process cost accounting system and a weighted-average cost flow assumption. The department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During July, $190,000 of materials costs and $137,100 in conversion costs were charged to the department. The beginning work in process inventory was $93,000 on July 1, comprised of $80,000 of materials costs and $13,000 of conversion costs. (20 pts) Other data for the month of July are as...
Ex. 169 The Assembly Department uses a process cost accounting system and a weighted average cost flow assumption. The department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During July, $190,000 of materials costs and $137,100 in conversion costs were charged to the department. The beginning work in process inventory was $93,000 on July 1, comprised of $80.000 of materials costs and $13,000 of conversion costs. Other data for the month of...
Ex. 169 The Assembly Department uses a process cost accounting system and a weighted average cost flow assumption. The department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During July, $190,000 of materials costs and $137,100 in conversion costs were charged to the department. The beginning work in process inventory was $93,000 on July 1, comprised of $80.000 of materials costs and $13,000 of conversion costs. Other data for the month of...
Document13 AutoSave View Review References Mailings Design Layout Insert Draw ome Aa v Calibri (Bo. 12 Paste U v ab x, x Required information [The following information applies to the questions displayed below. Mirada Company manufactures handheld calculators and has the following information available for the month of July: Work in process, July 1 (100% complete for materials, 25% for conversion) Direct materials 134,000 units $ 248,000 $ 402,000 Conversion cost 228,000 units Number of units started July costs Direct...
sum Section 3 (20 points) The Assembly Department uses a uning womanda weighted average on flow assumption. The department adds materiais beginning of the pro n ours conversion costs uniformly throughout the proc During w $100.000 of materials and $137,100 in conversion costs were charged to the department. The beginning work inventory was $93,000 on July 1. comprised of SBO,000 of materials costs and $13.000 GA conversion costs. Other data for the month of July are as follows: Beginning work...
Draw Page Layout Formulas Data Review View Calibri (Body) 11 A = = = 2 2 Wrap Text General Insert -X Cut b Copy ~ Format x A S E E Merge & Center $ % % -98 Conditional Form Formatting as Ta! BIV x ACCT 301 Week 6 HW Exercise 4 Process contestem Step 1 Physical flow begin WIP 4000 End WIP Started 2000 Transferred out 4000 The Finishing Department of Cosette Company has the following production and cost...
Section 3 (20 points) The Assembly Department uses a process cost accounting system and a weighted average cost flow assumption. The department adds materials at the beginning of the process and me conversion costs uniformly throughout the process. During July $190,000 of materials costs and 137.100 in conversion costs were charged to the department. The beginning work in process mory was 593,000 on July 1. comprised of $80.000 of materials costs and $13,000 of conversion costs. Other data for the...
Documenti - Word nces Mailings Review View Help E 21 A Aa A E. DA AaBbccd4ABCD Aabba Abbcct AaB Aabbed AaBbc 1 Normal 1 No Spac... Heading 1 Heading 2 Subtle Title Subtitle Paragraph Question 1 The ledger of Magdy Company has the following work in process account: Work in Process --Painting 5/1 Balance $3,690 5/31 Transferred out 57 S/31 Materials 8,150 5/31 Labour 2,400 5/31 Overhead 1,452 5/31 Balance 52 Production records show that there were 420 units in...
dit View Insert Format Tools Table Window Help Document14 Review View Mailings Com • AutoSave A S U . me Insert Draw Design Layout References hX Calibri (Bo... - 12 AA Aa A ste BTV x x A-DA 211 Share Afbedde AaBb, Accode E O No Spacing Heading Styles Sense Required information The following information applies to the questions displayed below Saddleback Company makes camping lanterns using a single production process. All direct materials are added at the beginning of...
The Assembly Department uses a process cost accounting system. The department adds materials and incurs conversion costs uniformly throughout the process. During May, $200,000 of materials costs and $95,000 in conversion costs were charged to the department. The beginning Work in Process inventory was $63,000 on May 1, comprised of $40,000 of materials costs and $23,000 of conversion costs. The company employs the FIFO method of process costing. Other data for the month of May are as follows: Beginning Work...