Question

Waren Industries uses a process-costing system for its single product, which is manufactured from Material and Material Y. X
0 0
Add a comment Improve this question Transcribed image text
Answer #1
The correct answer is option C i.e. 48000 units of material X and 40000 units of material Y
The same has been illustrated below
Material X
Units Explanation
Units required for 40000 completed units 40000 As one unit require material X and it is added at the beginning of the manufacturing
Units required for 8000 work in progress (20% complete) 8000 As material X is added at the beginning of the manufacturing
Total 48000
Material X
Units Explanation
Units required for 40000 completed units 40000 As one unit require material Y and it is added at 75% stage of completion
Units required for 8000 work in progress (20% complete) 0 As material Y is added at 75% stage of completion and only 20% of work has been completed
Total 40000
Please do upvote if you found the answer useful.
Feel free to reach in the comment section in case of any clarification or queries.
Add a comment
Know the answer?
Add Answer to:
Waren Industries uses a process-costing system for its single product, which is manufactured from Material and...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Warren Industries uses a process-costing system for its single product, which is manufactured from Material X...

    Warren Industries uses a process-costing system for its single product, which is manufactured from Material X and Material Y. X and Y are introduced to the product as follows: Material X: Added at the beginning of manufacturing Material Y: Added at the 70% stage of completion The company started and completed 89,000 units during the period, and had an ending work-in-process inventory amounting to 13,000 units, 25% complete. Which of the following choices correctly expresses the total equivalent units of...

  • Gutierrez, which uses a process-costing system, adds all material at the beginning of production and incurs...

    Gutierrez, which uses a process-costing system, adds all material at the beginning of production and incurs conversion cost evenly throughout manufacturing. The information that follows relates to the period just ended: Units started and completed: 94,000 Units in ending work-in-process inventory: 15,800, 70% complete Which of the following choices correctly expresses the total equivalent units of production with respect to material and conversion cost? Material Conversion A. 94,000 94,000 B. 105,060 105,060 C. 109,800 98,740 D. 109,800 105,060 E. 109,800...

  • Marshall Polish manufactures a single product in one department and uses a process costing system. At...

    Marshall Polish manufactures a single product in one department and uses a process costing system. At the start of May, there were 10,600 units in process that were 100 percent complete with respect to direct material and 70 percent complete with respect to conversion costs (labor and overhead). During the month, the company began production of 113,900 units. Ending Work in Process inventory consisted of 5,200 units that were 100 percent complete with respect to material and 80 percent complete...

  • Pureform, Inc., uses the FIFO method in its process costing system. It manufactures a product that...

    Pureform, Inc., uses the FIFO method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process 69,000 $ 82,500 $ 24,900 $ 35,800 inventory, beginning Units started in 659,000 process Units transferred out 680,000 Work in process 48,000 inventory, ending Cost added during the $1,044,080 $160,925 $482,775 month The beginning work in process inventory was 85% complete with respect...

  • Pureform, Inc., uses the FIFO method in its process costing system. It manufactures a product that...

    Pureform, Inc., uses the FIFO method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Materials $ 82,500 Labor $ 24,900 Overhead $ 35,800 Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month Units 69,000 659,000 680,000 48,000 $1,044,080 $ 160,925 $ 482,775 The beginning work in process inventory was 85% complete...

  • Pureform, Inc., uses the FIFO method in its process costing system. It manufactures a product that...

    Pureform, Inc., uses the FIFO method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead $ 122, 200 $ 37,400 $ 50,300 Work in process inventory, beginning Units started in process 80,000 762,000 810, 000 32,000 Units transferred out Work in process inventory, ending Cost added during the month $ 392,700 $ 431,200 $1,650,340 The beginning work in process inventory was...

  • Pureform, Inc., uses the FIFO method in its process costing system. It manufactures a product that...

    Pureform, Inc., uses the FIFO method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Materials $ 49,700 $ Labor 10,600 Overhead $ 24,300 Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month Units 61,000 579,000 600,000 40,000 $ 894,815 $ 289,225 $ 347,070 The beginning work in process inventory was 70%...

  • Seacrest Company uses a process costing system. The company manufactures a product that is processed in...

    Seacrest Company uses a process costing system. The company manufactures a product that is processed in two departments: A and B. As work is completed, is transferred out. All inputs are added uniformly in Department A The following summarizes the production activity and costs for November Department A Department B Beginning inventories: Physical units 5,000 8,000 Costs: Transferred in $45,320 Direct materials $10.000 Conversion costs $6.900 $16,800 Current production: 25,000 Units started ? Units transferred out 28.000 33.000 Costs: ?...

  • Name TRUE/FALSE 1. In a process cost system, product costs are accumulated by processing department rather...

    Name TRUE/FALSE 1. In a process cost system, product costs are accumulated by processing department rather than by job 2. If factory overhead applied exceeds the actual costs, then factory overhead is said to be underapplied. 3. A manufacturer may employ a job order cost system for some of its products and a process cost system for others. 4. Period costs can be found on the balance sheet or on the income statement. 5. Managerial accounting reports are always prepared...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT