Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing...
Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
| Beginning work in process inventory: | |||
| Units in beginning work in process inventory | 1,100 | ||
| Materials costs | $ | 12,300 | |
| Conversion costs | $ | 22,600 | |
| Percent complete with respect to materials | 75 | % | |
| Percent complete with respect to conversion | 65 | % | |
| Units started into production during the month | 9,400 | ||
| Units transferred to the next department during the month | 8,600 | ||
| Materials costs added during the month | $ | 167,300 | |
| Conversion costs added during the month | $ | 356,500 | |
| Ending work in process inventory: | |||
| Units in ending work in process inventory | 1,900 | ||
| Percent complete with respect to materials | 65 | % | |
| Percent complete with respect to conversion | 50 | % | |
The cost of a completed unit transferred out of the department is closest to: (Round equivalent units to the nearest whole number and round all other intermediate calculations to 2 decimal places.)
Homework Answers
Equivalent unit of material = (1100*25%+7500+1900*65%) = 9010
Equivalent unit of conversion = (1100*35%+7500+1900*50%) = 8835
Cost per equivalent unit of material = 167300/9010 = 18.57
Cost per equivalent unit of conversion = 356500/8835 = 40.35
The cost of a completed unit transferred out of the department is closet to : (7775*18.57+7885*40.35+34900) = 497441.50
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Mullins Corporation uses the FIFO method in its process costing
system. Data concerning the first processing...
Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing...
Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 1,300 Materials costs $ 12,700 Conversion costs $ 22,800 Percent complete with respect to materials 75 % Percent complete with respect to conversion 65 % Units started into production during the month 9,800 Units transferred to the next department during the month 9,000...
Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing...
Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are isted below! 780 $ 11,500 $ 22,200 753 655 Beginning work in process inventory: Units in beginning work in process inventory. Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during...
Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing...
Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 900 Materials costs $ 11,900 Conversion costs $ 22,400 Percent complete with respect to materials 75 % Percent complete with respect to conversion 65 % Units started into production during the month 9,000 Units transferred to the next department during the month 8,200...
Mullins Corporation uses the first in, first-out method in its process costing system. Data concerning the...
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Mullins Corporation uses the first in, first-out method in its process costing system. Data concerning the...
Mullins Corporation uses the first in, first-out method in its process costing system. Data concerning the first processing department for the most recent month are listed below Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added...
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Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing...
Inacio Corporation uses the
weighted-average method in its process costing system. Data
concerning the first processing department for the most recent
month are listed below: Beginning work in process inventory: Units
in beginning work in process inventory 2,500 Materials costs $
14,600 Conversion costs $ 6,700 Percent complete with respect to
materials 75 % Percent complete with respect to conversion 20 %
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Inacio Corporation uses the weighted average method in its process costing system Data concerning the first...
Inacio Corporation uses the weighted average method in its process costing system Data concerning the first processing department for the most recent month are listed below: 1,800 $ 13,900 $ 6,000 75 Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during...
Puri Corporation uses the FIFO method in its process costing system.Data concerning the first processing department...
Puri Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: 400 Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the...
Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are isted below! 780 $ 11,500 $ 22,200 753 655 Beginning work in process inventory: Units in beginning work in process inventory. Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during...
Mullins Corporation uses the first in, first-out method in its process costing system. Data concerning the first processing department for the most recent month are listed below Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added...
Mullins Corporation uses the first in, first-out method in its process costing system. Data concerning the first processing department for the most recent month are listed below Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added...
Ozdemir Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the...
Puri Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: 400 $ 4,800 $ 3,300 85% Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the...
Inacio Corporation uses the
weighted-average method in its process costing system. Data
concerning the first processing department for the most recent
month are listed below: Beginning work in process inventory: Units
in beginning work in process inventory 2,500 Materials costs $
14,600 Conversion costs $ 6,700 Percent complete with respect to
materials 75 % Percent complete with respect to conversion 20 %
Units started into production during the month 11,200 Units
transferred to the next department during the month 10,100...
Inacio Corporation uses the weighted average method in its process costing system Data concerning the first processing department for the most recent month are listed below: 1,800 $ 13,900 $ 6,000 75 Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during...
Puri Corporation uses the FIFO method in its process costing system.Data concerning the first processing department for the most recent month are listed below: 400 Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the...
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