Homework Answers
Ans:
| Percentage of completion | Equivalent units | ||||
| Physical Units | Direct Material | Conversion | Direct Material | Conversion | |
| Beginning WIP | 47000 | 80% | 60% | ||
| Units started this period | 117,000 | ||||
| Total Units to account for | 164,000 | ||||
| Completed & Transferred out | 123,000 | 100% | 100% | 123000 | 123000 |
| Ending WIP | 41000 | 65% | 30% | 26650 | 12300 |
| Total Units accounted for | 164,000 | ||||
| Total Equivalent units | 149650 | 135300 | |||
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The Evanston plant of Fit-for-Life Foods Corporation produces low-fat salad dressing. The following data pertain to...
The Evanston plant of Fit-for-Life Foods Corporation produces low-fat salad dressing. The following data pertain to...
The Evanston plant of Fit-for-Life Foods Corporation produces low-fat salad dressing. The following data pertain to the year just ended. Percentage of Completion Direct Material Conversion 80% 50% 75% 30% Units 43,000 lb. 37,000 lb. Work in process, January 1 Work in process, December 31 During the year, the company started 142,000 pounds of material in production. Required: Prepare a schedule analyzing the physical flow of units and computing the equivalent units of both direct material and conversion for the...
The Evanston plant of Fit for Life Foods Corporation produces low-fat salad dressing. The following data...
The Evanston plant of Fit for Life Foods Corporation produces low-fat salad dressing. The following data pertain to the year just ended Percentage of Completion Workin a y Work in process. December 31 4.000 lb 38.000 lb During the year the company started 100 000 pounds of material in production Required: Prepare a schedule analyzing the physical flow of units and computing the equivalent units of both direct material and conversion for they Use weighted average process costing CALCULATION OF...
Kipling Manufacturing, Inc., operates a plant that produces its own regionally-marketed Super Salad Dressing. The dressing...
Kipling Manufacturing, Inc., operates a plant that produces its own
regionally-marketed Super Salad Dressing. The dressing is produced
in two processes, blending and bottling. In the Blending
Department, all materials are added at the beginning of the
process, and labor and overhead are incurred evenly throughout the
process. Kipling uses the FIFO method. The Work in Process—Blending
Department account for January 2016 follows:
Question 4 Not yet answered Marked out of 1,00 P Flag question Calculate Equivalent Units, Unit Costs,...
The following data pertain to the Hercules Tire and Rubber Company for the month of May....
The following data pertain to the Hercules Tire and Rubber Company for the month of May. Work in process, May 1 (in units) ? Units started during May 60,000 Total units to account for 75,000 Units completed and transferred out during May ? Work in process, May 31 (in units) 10,000 Total equivalent units: direct material 75,000 Total equivalent units: conversion ? Work in process, May 1: direct material $ 135,000 Work in process, May 1: conversion ? Costs...
Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain...
Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm's sawmill during November. $ 92,200 130,400 Work in process, November 1 Direct material Conversion Costs incurred during November Direct material Conversion $448,000 963,000 The equivalent units of activity for November were as follows: 7,300 equivalent units of direct material and 2,200 equivalent units of conversion activity. Required: Calculate the cost per equivalent unit, for both direct material and conversion, during November....
Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain...
Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm's sawmill during November. $ 86,700 121,000 Work in process, November 1 Direct material Conversion Costs incurred during November Direct material Conversion $382,500 525,000 The equivalent units of activity for November were as follows: 6,800 equivalent units of direct material and 1,700 equivalent units of conversion activity. Required: Calculate the cost per equivalent unit, for both direct material and conversion, during November....
2. 3. 4 The following data pertain to the Hercules Tire and Rubber Company for the...
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The following data pertain to the Hercules Tire and Rubber Company for the month of May. 60,000 75,000 10,000 75,000 $ 135,000 Work in process, May 1 (in units) Units started during May Total units to account for Units completed and transferred out during May Work in process, May 31 (in units) Total equivalent units: direct material Total equivalent units: conversion Work in process, May 1: direct material Work in process, May 1: conversion Costs incurred during...
The following data pertain to Tulsa Paperboard Company, a manufacturer of cardboard boxes. Work in process,...
The following data pertain to Tulsa Paperboard Company, a manufacturer of cardboard boxes. Work in process, February 1 10,000Units Direct Material $ 5,500 Conversion 17,000 Costs incurred during February Direct Material $ 110,000 Conversion 171,600 The equivalent units of activity for February were as follows: Direct material (Weighted - average method) 110,000 Conversion (Weighted - average method) 92,000 Completed and transferred out 90,000 Required: Compute the following amount using weighted -average process costing. 1. Cost of goods completed and transferred...
Savannah Textiles Company manufactures a variety of natural fabrics for the clothing industry. The following data...
Savannah Textiles Company manufactures a variety of natural fabrics for the clothing industry. The following data pertain to the Weaving Department for the month of September. Equivalent units of direct material (weighted-average method) 55,000 Equivalent units of conversion (weighted-average method) 47,000 Units completed and transferred out during September 45,000 The cost data for September are as follows: Work in process, September 1 Direct material $ 91,900 Conversion 41,580 Costs incurred during September Direct material $ 161,100 Conversion 254,520 There were...
The following data pertain to the Hercules Tire and Rubber Company for the month of May....
The following data pertain to the Hercules Tire and Rubber Company for the month of May. 60,000 75,000 10,000 75,000 $ 135,000 Work in process, May 1 (in units) Units started during May Total units to account for Units completed and transferred out during May Work in process, May 31 (in units) Total equivalent units: direct material Total equivalent units: conversion Work in process, May 1: direct material Work in process, May 1: conversion Costs incurred during May: direct material...
The Evanston plant of Fit-for-Life Foods Corporation produces low-fat salad dressing. The following data pertain to the year just ended. Percentage of Completion Direct Material Conversion 80% 50% 75% 30% Units 43,000 lb. 37,000 lb. Work in process, January 1 Work in process, December 31 During the year, the company started 142,000 pounds of material in production. Required: Prepare a schedule analyzing the physical flow of units and computing the equivalent units of both direct material and conversion for the...
The Evanston plant of Fit for Life Foods Corporation produces low-fat salad dressing. The following data pertain to the year just ended Percentage of Completion Workin a y Work in process. December 31 4.000 lb 38.000 lb During the year the company started 100 000 pounds of material in production Required: Prepare a schedule analyzing the physical flow of units and computing the equivalent units of both direct material and conversion for they Use weighted average process costing CALCULATION OF...
Kipling Manufacturing, Inc., operates a plant that produces its own
regionally-marketed Super Salad Dressing. The dressing is produced
in two processes, blending and bottling. In the Blending
Department, all materials are added at the beginning of the
process, and labor and overhead are incurred evenly throughout the
process. Kipling uses the FIFO method. The Work in Process—Blending
Department account for January 2016 follows:
Question 4 Not yet answered Marked out of 1,00 P Flag question Calculate Equivalent Units, Unit Costs,...
Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm's sawmill during November. $ 92,200 130,400 Work in process, November 1 Direct material Conversion Costs incurred during November Direct material Conversion $448,000 963,000 The equivalent units of activity for November were as follows: 7,300 equivalent units of direct material and 2,200 equivalent units of conversion activity. Required: Calculate the cost per equivalent unit, for both direct material and conversion, during November....
Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm's sawmill during November. $ 86,700 121,000 Work in process, November 1 Direct material Conversion Costs incurred during November Direct material Conversion $382,500 525,000 The equivalent units of activity for November were as follows: 6,800 equivalent units of direct material and 1,700 equivalent units of conversion activity. Required: Calculate the cost per equivalent unit, for both direct material and conversion, during November....
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3.
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The following data pertain to the Hercules Tire and Rubber Company for the month of May. 60,000 75,000 10,000 75,000 $ 135,000 Work in process, May 1 (in units) Units started during May Total units to account for Units completed and transferred out during May Work in process, May 31 (in units) Total equivalent units: direct material Total equivalent units: conversion Work in process, May 1: direct material Work in process, May 1: conversion Costs incurred during...
The following data pertain to Tulsa Paperboard Company, a manufacturer of cardboard boxes. Work in process, February 1 10,000Units Direct Material $ 5,500 Conversion 17,000 Costs incurred during February Direct Material $ 110,000 Conversion 171,600 The equivalent units of activity for February were as follows: Direct material (Weighted - average method) 110,000 Conversion (Weighted - average method) 92,000 Completed and transferred out 90,000 Required: Compute the following amount using weighted -average process costing. 1. Cost of goods completed and transferred...
The following data pertain to the Hercules Tire and Rubber Company for the month of May. 60,000 75,000 10,000 75,000 $ 135,000 Work in process, May 1 (in units) Units started during May Total units to account for Units completed and transferred out during May Work in process, May 31 (in units) Total equivalent units: direct material Total equivalent units: conversion Work in process, May 1: direct material Work in process, May 1: conversion Costs incurred during May: direct material...
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