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Excalibur Ltd. began operations on October 1 of the current year. Its production requires that direct...
Rainbow Glass Company manufactures decorative glass products. The firm employs a process-costing system for its manufacturing...
Rainbow Glass Company manufactures decorative glass products. The firm employs a process-costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. The company’s production schedule for October follows: Units Work in process on October 1 (65% complete as to conversion) 5,400 Units started during October 8,600 Total units to account for 14,000 Units from beginning work in process, which were completed and transferred out...
The Morgan Models company manufacturers replica plastic airplane and motorized vehicle models. During October, the firm’s...
The Morgan Models company manufacturers replica plastic airplane and motorized vehicle models. During October, the firm’s Assembly Department started production of 60,000 models. During the month, the firm completed 66,000 models, and transferred them to Finishing Department. The firm ended the month with 22,000 models in ending inventory. The were 28,000 models in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO...
Indigo Fans mass-produces small electric fans in Taiwan for home use. All direct materials are added...
Indigo Fans mass-produces small electric fans in Taiwan for home use. All direct materials are added at the beginning of production, and conversion costs are incurred evenly throughout production. The following production information is for the month of October (currency is New Taiwan dollars): Started in October Completed in October Ending WIP (80% complete) Beginning WIP (10% complete) Physical Units 80,000 74,000 14,400 8,400 Costs NT$ 17,800 37,200 Beginning work in process costs Direct materials Conversion costs Costs added this...
Richards Corporation uses the FIFO method of process costing. The following information is available for October i...
Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating Department Units Beginning Inventory: 80,000 units, 60% complete as to materials and 20% complete as to conversion Units started and completed: 250,000 Units completed and transferred out: 330,000, Ending Inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion Costs Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process -...
Learning Tree Corporation makes interlocking children's blocks in a single processing department. Direct materials are added...
Learning Tree Corporation makes interlocking children's blocks in a single processing department. Direct materials are added at the start of production. Conversion costs are added evenly throughout production. Learning Tree uses the weighted average method of process costing. The following information for October 2017 is available. Click the icon to view the equivalent unit information. (Click the icon to view the cost information.) Read the requirements. Requirement 1. Summarize total costs to account for and calculate cost per equivalent unit...
Richards Corporation uses the FIFO method of process costing. The following available for October in its...
Richards Corporation uses the FIFO method of process costing. The following available for October in its Fabricating Department: Units: Beginning Inventory: 82,000 units, 70% complete as to materials and 25% complete as to conversion Units started and completed: 252,000. Units completed and transferred out: 334,000. Ending Inventory: 31,000 units, 40% complete as to materials and 15% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $39,200. Costs in beginning Work in Process - Conversion: $81,700....
Fast Co. produces its product through two processing departments. Direct materials are added at the start...
Fast Co. produces its product through two processing departments. Direct materials are added at the start of production in the Cutting department, and conversion costs are added evenly throughout each process. The company uses monthly reporting periods for its weighted-average process costing system. The Work in Process Inventory-Cutting account has a balance of $98,300 as of October 1, which consists of $21,300 of direct materials and $77,000 of conversion costs. During the month, the Cutting department incurred the following costs:...
The mixing department of fresh foods had 65,000 units to account for in october. Of the...
The
mixing department of fresh foods had 65,000 units to account for in
october. Of the 65,000 units, 40,000 units were xompleted and
transferred to the next department, and 25,000 units were 20%
complete. All of the materials are added at the beginning of the
process. Coversion costs are added evenly throughout the mixing
process and the company uses the weighted average method. compute
the total equivalent units of production for direct materials and
conversion costs for october
Fresh Foods...
Nettle Co. uses process costing to account for the production of rubber balls. Direct materials are...
Nettle Co. uses process costing to account for the production of rubber balls. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Equivalent units have been calculated to be 17,400 units for materials and 17,000 units for conversion costs. Beginning inventory consisted of $5,500 in materials and $13,200 in conversion costs. April costs were $32,300 for materials and $62,050 for conversion costs. Ending inventory still in process was 9,350 units...
Brody Corp. uses a process costing system in which direct materials are added at the beginning...
Brody Corp. uses a process costing system in which direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Beginning inventory for January consisted of 1,000 units that were 40% completed. 10,000 units were started into the process during January. On January 31, the inventory consisted of 500 units that were 70% completed. What would be the equivalent units for conversion cost using the weighted average method?
Indigo Fans mass-produces small electric fans in Taiwan for home use. All direct materials are added at the beginning of production, and conversion costs are incurred evenly throughout production. The following production information is for the month of October (currency is New Taiwan dollars): Started in October Completed in October Ending WIP (80% complete) Beginning WIP (10% complete) Physical Units 80,000 74,000 14,400 8,400 Costs NT$ 17,800 37,200 Beginning work in process costs Direct materials Conversion costs Costs added this...
Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating Department Units Beginning Inventory: 80,000 units, 60% complete as to materials and 20% complete as to conversion Units started and completed: 250,000 Units completed and transferred out: 330,000, Ending Inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion Costs Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process -...
Learning Tree Corporation makes interlocking children's blocks in a single processing department. Direct materials are added at the start of production. Conversion costs are added evenly throughout production. Learning Tree uses the weighted average method of process costing. The following information for October 2017 is available. Click the icon to view the equivalent unit information. (Click the icon to view the cost information.) Read the requirements. Requirement 1. Summarize total costs to account for and calculate cost per equivalent unit...
Richards Corporation uses the FIFO method of process costing. The following available for October in its Fabricating Department: Units: Beginning Inventory: 82,000 units, 70% complete as to materials and 25% complete as to conversion Units started and completed: 252,000. Units completed and transferred out: 334,000. Ending Inventory: 31,000 units, 40% complete as to materials and 15% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $39,200. Costs in beginning Work in Process - Conversion: $81,700....
The
mixing department of fresh foods had 65,000 units to account for in
october. Of the 65,000 units, 40,000 units were xompleted and
transferred to the next department, and 25,000 units were 20%
complete. All of the materials are added at the beginning of the
process. Coversion costs are added evenly throughout the mixing
process and the company uses the weighted average method. compute
the total equivalent units of production for direct materials and
conversion costs for october
Fresh Foods...
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