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The following product costs are available for Haworth Company on the production of chairs: direct materials,...
The following information is available for Lexi Company for January. Equivalent Units Direct materials 5,000...
The following information is available for Lexi Company for January. Equivalent Units Direct materials 5,000 Conversion Costs 2,500 Beginning WIP inventory costs Direct Material $30,000 Conversion Costs $64,500 Costs for the month of January – Current costs Direct materials $40,000 Conversion Costs $35,000 Ending Inventory Costs Direct Materials $15,500 Conversion Costs $13,500 Complete the cost per equivalent unit for materials, conversion costs and the total cost per equivalent unit.
Arden Company reported the following costs and expenses for the most recent month: Direct materials Direct...
Arden Company reported the following costs and expenses for the most recent month: Direct materials Direct labor Manufacturing overhead Selling expenses Administrative expenses 79,000 $ 41,000 $ 19,000 $22,000 34,000 Required: 1. What is the total amount of product costs? Total product costs 2. What is the total amount of period costs? Total period costs 3. What is the total amount of conversion costs? Total conversion costs 4. What is the total amount of prime costs? Total prime costs
Oslo Company produces large quantities of a standardized product. The following information is available for the...
Oslo Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for May. Units Beginning work in process inventory Started Ending work in process inventory 4,500 14.500 4,000 Costs Beginning work in process inventory Direct materials Conversion status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Direct materials added 100% Direct labor added 30% Overhead applied (90% of direct labor) Total costs to account for Ending work...
Elliott Company produces large quantities of a standardized product. The following information is available for the...
Elliott Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for March Units Beginning work in process inventory Started Ending work in process inventory 1.000 10,000 2,000 Costs Beginning work in process inventory Direct materials Conversion status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Direct materials added 100% Direct labor added 25% Overhead applied (140% of direct labor) Total costs to account for Ending work...
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: Direct materials $ 73,000 Direct labor $ 37,000 Variable...
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: Direct materials $ 73,000 Direct labor $ 37,000 Variable manufacturing overhead $ 16,600 Fixed manufacturing overhead 29,200 Total manufacturing overhead $ 45,800 Variable selling expense $ 12,800 Fixed selling expense 19,600 Total selling expense $ 32,400 Variable administrative expense $ 4,400 Fixed administrative expense 25,800 Total administrative expense $ 30,200 Required: 1. With respect to cost classifications for preparing...
Question 3 Details of costs and inventory balances at the end of a production period are...
Question 3 Details of costs and inventory balances at the end of a production period are as follows: Total production costs $2,000,000 Opening finished goods 120,000 Units sold 370,000 Closing finished goods 150,000 Percentage of product costs that are prime costs 70% Percentage of conversion costs that are direct labour 60% Calculate the following: Calculations Number of units produced during the period Product cost per unit Direct material per unit Direct labour per unit Factory overhead per unit
Elliott Company produces large quantities of a standardized product. The following information is available for th...
Elliott Company produces large quantities of a standardized product. The following information is available for th first process in its production activities for March Units Beginning work in process inventory Started Ending work in process inventory 3,500 35.000 7.000 Costs Beginning work in process inventory Direct materials Conversion $ 3,815 11,592 Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Direct materials added 10 Direct labor added 40% Overhead applied (140% of direct labor) Total costs to account...
1 Oslo Company produces large quantities of a standardized product. The following information is available for...
1 Oslo Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for May. 0 oints Units Beginning work in process inventory Started Ending work in process inventory Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Costs 5,400 Beginning work in process inventory 19,000 Direct materials Conversion Book 5,800 ferences Direct materials added 1004 Direct labor added 354 Overhead applied (909 of direct labor) Total costs...
1-The sum of all manufacturing costs except for direct materials and direct labor is called manufacturing...
1-The sum of all manufacturing costs except for direct materials and direct labor is called manufacturing overhead. a) True b) False 2- If the fixed cost per unit is $15 and the variable cost per unit is $0.5, and the units produced are 10,000 units. Then what is the total cost if the units produced are 20,000? a)$160,000 b)$150,000 c)$310,000 d)$155,000 3- Conversion cost equals product cost less direct materials cost. a) True b) False 4- During the month of...
Elliott Company produces large quantities of a standardized product. The following information is available for the...
Elliott Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for March Units Beginning work in process inventory Started Ending work in process inventory Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Costs 3,000 Beginning work in process inventory 30,000 Direct materials 6,000 Conversion Direct materials added 100Direct labor added 356 Overhead applied (1408 of direct labor) Total costs to account for Ending work in...
Arden Company reported the following costs and expenses for the most recent month: Direct materials Direct labor Manufacturing overhead Selling expenses Administrative expenses 79,000 $ 41,000 $ 19,000 $22,000 34,000 Required: 1. What is the total amount of product costs? Total product costs 2. What is the total amount of period costs? Total period costs 3. What is the total amount of conversion costs? Total conversion costs 4. What is the total amount of prime costs? Total prime costs
Oslo Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for May. Units Beginning work in process inventory Started Ending work in process inventory 4,500 14.500 4,000 Costs Beginning work in process inventory Direct materials Conversion status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Direct materials added 100% Direct labor added 30% Overhead applied (90% of direct labor) Total costs to account for Ending work...
Elliott Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for March Units Beginning work in process inventory Started Ending work in process inventory 1.000 10,000 2,000 Costs Beginning work in process inventory Direct materials Conversion status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Direct materials added 100% Direct labor added 25% Overhead applied (140% of direct labor) Total costs to account for Ending work...
Elliott Company produces large quantities of a standardized product. The following information is available for th first process in its production activities for March Units Beginning work in process inventory Started Ending work in process inventory 3,500 35.000 7.000 Costs Beginning work in process inventory Direct materials Conversion $ 3,815 11,592 Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Direct materials added 10 Direct labor added 40% Overhead applied (140% of direct labor) Total costs to account...
1 Oslo Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for May. 0 oints Units Beginning work in process inventory Started Ending work in process inventory Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Costs 5,400 Beginning work in process inventory 19,000 Direct materials Conversion Book 5,800 ferences Direct materials added 1004 Direct labor added 354 Overhead applied (909 of direct labor) Total costs...
Elliott Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for March Units Beginning work in process inventory Started Ending work in process inventory Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Costs 3,000 Beginning work in process inventory 30,000 Direct materials 6,000 Conversion Direct materials added 100Direct labor added 356 Overhead applied (1408 of direct labor) Total costs to account for Ending work in...
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