Homework Answers
1) Equivalent unit
| Equivalent unit | ||||
| Physical units | Materials | Labor | Overhead | |
| Unit Completed | 790000 | 790000 | 790000 | 790000 |
| Ending work in process | 50000 | 30000 | 10000 | 10000 |
| Equivalent unit | 840000 | 820000 | 800000 | 800000 |
2) Cost per equivalent unit
| Material | Labor | Overhead | |
| Beginning work in process | 68600 | 30000 | 48000 |
| Cost added | 907200 | 370000 | 592000 |
| Total Cost | 975800 | 400000 | 640000 |
| Equivalent unit | 820000 | 800000 | 800000 |
| Cost per equivalent unit | 1.19 | 0.50 | 0.80 |
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Еупи. Prepare journal entries showing the flow of costs through the two processing departments during April....
Kalox, Inc., manufactures an antacid product that passes through two departments. Data for May for the...
Kalox, Inc., manufactures an antacid product that passes through two departments. Data for May for the first department follow: Gallons Materials Labor Overhead Work in process, May 1 80,000 $68,600 $30,000 $48,000 Gallons started in process760,000 Gallons transferred out Work in process, May 31 Cost added during May 790,000 50,000 $907,200 $370,000 $592,000 The beginning work in process inventory was 80% complete with respect to materials and 75% complete with respect to labor and overhead. The ending work in process...
Gallons Materials Labor Overhead Work in process, May 1 80,000 $68,600 $30,000 $48,000 Gallons started in...
Gallons Materials Labor Overhead Work in process, May 1 80,000 $68,600 $30,000 $48,000 Gallons started in process Gallons transferred out Work in process, May 31 Cost added during May 760,000 790,000 50,000 $907,200 $370,000$592,000 The beginning work in process inventory was 80% complete with respect to materials and 75% complete with respect to labor and overhead. The ending work in process inventory was 60% complete with respect to materials and 20% complete with respect to labor and overhead EXERCISE 4A-7...
1. Compute the first department's equivalent units of production for materials, labor, and overhead for the...
1. Compute the first department's equivalent units of
production for materials, labor, and overhead for the month.
2. Determine the first department's cost per equivalent unit
for materials, labor, and overhead for the month. (Round your
answers to 2 decimal places.)
Pureform, Inc., uses the weighted average 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 $ 68,600 Labor $30,000 Overhead $ 48,000...
Reyn w of costs through the two processing departments during April. Units: Cost per Equivalent Unit:...
Reyn w of costs through the two processing departments during April. Units: Cost per Equivalent Unit: Assigning Costs to Units-Weighted Averas Prepare journal entries sho EXERCISE 5-8 Equivalent Units: C Method L05-2, L05-3, LO5-4 Helix Corporation uses the weigh cated flooring in a series of steps carr ted-average method in its process costing system. It produces prefabri- as of steps carried out in production departments. All of the material that is used in is added at the beginning of processing...
This is all the information that my homework has given me. Two Departments, Journal Entries with...
This is all the information that my homework has given me.
Two Departments, Journal Entries with Supporting Calculations-Weighted Average Method Patterson Laboratories, Inc., produces one of its products in two successive departments. All materials are added at the beginning of the process in Department 1, no materials are used in Department 2. Conversion costs are incurred evenly in both departments. Patterson uses the weighted average method for process costing. January 1, 2019, inventory account balances are as follows: Materials inventory...
Weston Products manufactures an industrial cleaning compound that goes through three processing departments-grinding, mixing, and cooking....
Weston Products manufactures an industrial cleaning compound that goes through three processing departments-grinding, mixing, and cooking. All raw materials are introduced at the start of work in the grinding department, with conversion costs being incurred evenly throughout the grinding process. The work-in-process T-account for the grinding department for May follows: Work in Process--Grinding Department Completed and transferred to mixing (? kg) Inventory, May 1 (21,400 kg, 1/3 processed) May costs added: Raw materials (167,000 kg) Labour and overhead $30,250 $?...
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 $86,300 as of October 1 which consists of $17,700 of direct materials and $68,600 of conversion costs. During the month, the Cutting department incurred the...
Pureform, Inc., manufactures a product that passes through two departments. Data for a recent month for...
Pureform, Inc., manufactures a product that passes through two departments. Data for a recent month for the first department follow: Materials $ 54,800 Labor $ 22,400 Overhead $ 32,800 Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month Units 66,000 629,000 650,000 45,000 $ 876,820 $ 407,680 $439,040 The beginning work in process inventory was 70% complete with respect to materials and 55% complete with respect to...
P4-5A. Two Departments, Journal Entries with supporting Calculations-Weighted Average Method (Note: This problem includes two departments....
P4-5A. Two Departments, Journal Entries with supporting Calculations-Weighted Average Method (Note: This problem includes two departments. The second may be beyond the scope of most classes. Instructors may choose to assign only the requirements related to Department 1.) Patterson Laboratories, Inc., produces one of its products in two successive departments. All materials are added at the beginning of the process in Department 1; no materials are used in Department 2. Conversion costs are incurred evenly in both departments. Patterson uses...
Two Departments, Journal Entries with Supporting Calculations-Weighted Average Method Patterson Laboratories, Ic., produces one of its...
Two Departments, Journal Entries with Supporting Calculations-Weighted Average Method Patterson Laboratories, Ic., produces one of its products in two successive departments. All materials are added at the beginning of the process in Department 1; no materials are used in Department 2. Conversion costs are incurred evenly in both departments. Patterson uses the weighted average method for process costing. January 1, 2019, inventory account balances are as follows: Materials inventory Work in process-Department 1 (3,000 units, 30% complete) Direct material Conversion...
Kalox, Inc., manufactures an antacid product that passes through two departments. Data for May for the first department follow: Gallons Materials Labor Overhead Work in process, May 1 80,000 $68,600 $30,000 $48,000 Gallons started in process760,000 Gallons transferred out Work in process, May 31 Cost added during May 790,000 50,000 $907,200 $370,000 $592,000 The beginning work in process inventory was 80% complete with respect to materials and 75% complete with respect to labor and overhead. The ending work in process...
Gallons Materials Labor Overhead Work in process, May 1 80,000 $68,600 $30,000 $48,000 Gallons started in process Gallons transferred out Work in process, May 31 Cost added during May 760,000 790,000 50,000 $907,200 $370,000$592,000 The beginning work in process inventory was 80% complete with respect to materials and 75% complete with respect to labor and overhead. The ending work in process inventory was 60% complete with respect to materials and 20% complete with respect to labor and overhead EXERCISE 4A-7...
1. Compute the first department's equivalent units of
production for materials, labor, and overhead for the month.
2. Determine the first department's cost per equivalent unit
for materials, labor, and overhead for the month. (Round your
answers to 2 decimal places.)
Pureform, Inc., uses the weighted average 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 $ 68,600 Labor $30,000 Overhead $ 48,000...
Reyn w of costs through the two processing departments during April. Units: Cost per Equivalent Unit: Assigning Costs to Units-Weighted Averas Prepare journal entries sho EXERCISE 5-8 Equivalent Units: C Method L05-2, L05-3, LO5-4 Helix Corporation uses the weigh cated flooring in a series of steps carr ted-average method in its process costing system. It produces prefabri- as of steps carried out in production departments. All of the material that is used in is added at the beginning of processing...
This is all the information that my homework has given me.
Two Departments, Journal Entries with Supporting Calculations-Weighted Average Method Patterson Laboratories, Inc., produces one of its products in two successive departments. All materials are added at the beginning of the process in Department 1, no materials are used in Department 2. Conversion costs are incurred evenly in both departments. Patterson uses the weighted average method for process costing. January 1, 2019, inventory account balances are as follows: Materials inventory...
Weston Products manufactures an industrial cleaning compound that goes through three processing departments-grinding, mixing, and cooking. All raw materials are introduced at the start of work in the grinding department, with conversion costs being incurred evenly throughout the grinding process. The work-in-process T-account for the grinding department for May follows: Work in Process--Grinding Department Completed and transferred to mixing (? kg) Inventory, May 1 (21,400 kg, 1/3 processed) May costs added: Raw materials (167,000 kg) Labour and overhead $30,250 $?...
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 $86,300 as of October 1 which consists of $17,700 of direct materials and $68,600 of conversion costs. During the month, the Cutting department incurred the...
Pureform, Inc., manufactures a product that passes through two departments. Data for a recent month for the first department follow: Materials $ 54,800 Labor $ 22,400 Overhead $ 32,800 Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month Units 66,000 629,000 650,000 45,000 $ 876,820 $ 407,680 $439,040 The beginning work in process inventory was 70% complete with respect to materials and 55% complete with respect to...
Two Departments, Journal Entries with Supporting Calculations-Weighted Average Method Patterson Laboratories, Ic., produces one of its products in two successive departments. All materials are added at the beginning of the process in Department 1; no materials are used in Department 2. Conversion costs are incurred evenly in both departments. Patterson uses the weighted average method for process costing. January 1, 2019, inventory account balances are as follows: Materials inventory Work in process-Department 1 (3,000 units, 30% complete) Direct material Conversion...
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