Homework Answers
1) In computation of cost per equivalent unit under weighted average method Total cost include beginning work in process and cost added.
Total Conversion cost = 350+3385 = 3735
So answer is a) $3735
2) Cost per equivalent unit of conversion cost = 3735/1660 = 2.25
So answer is d) $2.25
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Consider the following information from the records of Bennington Corporation. The company uses the weighted-average method....
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Andrews Corporation uses the weighted-average method of process costing. The following information is available for February in its Polishing Department: Equivalent units of production—direct materials 114,000 EUP Equivalent units of production—conversion 98,500 EUP Costs in beginning Work in Process—direct materials $ 66,900 Costs in beginning Work in Process—conversion $ 49,100 Costs incurred in February—direct materials $ 564,800 Costs incurred in February—conversion 709,400 The cost per equivalent unit of production for direct materials is:
Andrews Corporation uses the weighted average method of process costing. The following information is available for...
Andrews Corporation uses the weighted average method of process costing. The following information is available for February in its Polishing Department: Equivalent units of production direct materials 126,000 EUP Equivalent units of production-conversion 108,900 EUP Costs in beginning Work in Process-direct materials $ 73, 700 Costs in beginning Work in Process-conversion $ 54,100 Costs incurred in February-direct materials $622,300 Costs incurred in February-conversion $781,600 The cost per equivalent unit of production for direct materials is: Multiple Choice e $6.39 o...
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Sparky Corporation uses the weighted-average method of process costing. The following information is available for February...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 30,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 120,000. Units completed and transferred out: 150,000. Ending Inventory: 32,500 units, 100% complete as to materials and 30% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $48,000. Costs in beginning Work in Process -...
The following informaiton is used for Questions 2-5 Yoder Corporation uses the weighted-average method in its...
The following informaiton is used for Questions 2-5 Yoder Corporation uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month: Work in process, beginning: Units in process…………………………………….. 40,000 Percent complete with respect to materials………. 70% Percent complete with respect to conversion………. 60% Costs in the beginning inventory: Materials cost…………………………………… $8,200 Conversion cost………………………………… $4,800 Units started into production during the month…………… 750,000 Units completed and transferred out...
Required information (The following information applies to the questions displayed below.) Victory Company uses weighted average...
Required information (The following information applies to the questions displayed below.) Victory Company uses weighted average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 720,000 units of product to finished goods. At the end of November, the work in process inventory consists of 188,000 units that are 80% complete with respect to conversion. Beginning inventory had $413,140...
Walbin Corporation uses the weighted average method in its process costing system. The beginning work in process in...
Walbin Corporation uses the weighted average method in its process costing system. The beginning work in process inventory in a particular department consisted of 21000 units, 100% complete with respect to materials cost and 40 complete with respect to conversion cous. The total cost in the beginning work in process invertory was $26.400. A total of 50.000 units were transferred out of the department during the month. The costs per equivalent unit were compted to be $2.20 for materials and...
Required information (The following information applies to the questions displayed below. Victory Company uses weighted-average process...
Required information (The following information applies to the questions displayed below. Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 745,000 units of product to finished goods. At the end of November, the work in process inventory consists of 181,000 units that are 60% complete with respect to conversion. Beginning inventory had $300,950 of...
Required information [The following information applies to the questions displayed below.) Victory Company uses weighted average...
Required information [The following information applies to the questions displayed below.) Victory Company uses weighted average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the first process. During November, the first process transferred 770,000 units of product to the second process. Additional information for the first process follows. At the end of November, work in process inventory consists of 209,000 units that are 90%...
Brining Department Equivalent units of production Costs of beginning work in process Costs added during the period Materials Conversion 1,670 1,660 S 250 350 $2,255 $3,385 Knowledge Check 01 When computing the cost per equivalent unit for conversion, what is the total cost that will be included in the numerator of that calculation? $3,735 $2,255 $5,640 $6,240 Knowledge Check 02 What is the cost per equivalent unit for conversion? $1.50 $1.67 O$2.20 O$2.25
Brining Department Equivalent units of production Costs...
Andrews Corporation uses the weighted average method of process costing. The following information is available for February in its Polishing Department: Equivalent units of production direct materials 126,000 EUP Equivalent units of production-conversion 108,900 EUP Costs in beginning Work in Process-direct materials $ 73, 700 Costs in beginning Work in Process-conversion $ 54,100 Costs incurred in February-direct materials $622,300 Costs incurred in February-conversion $781,600 The cost per equivalent unit of production for direct materials is: Multiple Choice e $6.39 o...
Sparky Corporation uses the weighted average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 110,000. Units completed and transferred out: 135,000. Ending Inventory: 30,000 units, 100% complete as to materials and 45% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $43,000. Costs in beginning Work in Process...
Required information (The following information applies to the questions displayed below.) Victory Company uses weighted average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 720,000 units of product to finished goods. At the end of November, the work in process inventory consists of 188,000 units that are 80% complete with respect to conversion. Beginning inventory had $413,140...
Walbin Corporation uses the weighted average method in its process costing system. The beginning work in process inventory in a particular department consisted of 21000 units, 100% complete with respect to materials cost and 40 complete with respect to conversion cous. The total cost in the beginning work in process invertory was $26.400. A total of 50.000 units were transferred out of the department during the month. The costs per equivalent unit were compted to be $2.20 for materials and...
Required information (The following information applies to the questions displayed below. Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 745,000 units of product to finished goods. At the end of November, the work in process inventory consists of 181,000 units that are 60% complete with respect to conversion. Beginning inventory had $300,950 of...
Required information [The following information applies to the questions displayed below.) Victory Company uses weighted average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the first process. During November, the first process transferred 770,000 units of product to the second process. Additional information for the first process follows. At the end of November, work in process inventory consists of 209,000 units that are 90%...
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