1.
Equivalent units of production | |||
Physical units | Material | Conversion costs | |
Beginning WIP | 4,000 | 0 | 2,800 (4,000*70%) |
Started and completed (12,000-4,000) | 8,000 | 8,000 | 8,000 |
Ending WIP | 5,000 | 5,000 | 2,000 (5,000*40%) |
Total | 17,000 | 13,000 | 12,800 |
2.
Step 1: Accounting for all units | |||
BWIP | 2,000 | T-OUT | 4,500 |
Started | 6,000 | EWIP | 3,500 |
Total | 8,000 | Total | 8,000 |
Step 2: Schedule of EUP's | ||
Materials | Labor/Overhead | |
T-OUT | 4,500 | 4,500 |
EWIP | 3,500 | 2,100 (3,500*60%) |
Total EUP | 8,000 | 6,600 |
Step 3: Unit Cost Schedule | |||||
BWIP | Current | Total | EUP | Unit Cost | |
Mat | $4,700 (8,000-3,300) | $1,800 | $6,500 | 8,000 | $0.8125 |
Labor/OH | 3,300 | 6,600 (3,800+2,800) | 9,900 | 6,600 | 1.5 |
Total | $8,000 | $8,400 | $16,400 | $2.3125 |
Step 4: Production Cost Schedule | ||
T-OUT | $10,406.25 (4,500*$2.3125) | |
EWIP: | ||
Materials | $2,843.75 (3,500*$0.8125) | |
Labor/OH | 3,150 (2,100*$1.5) | 5,993.75 |
Total costs to be accounted for | $16,400 |
The Nitrogen Fixation Department of Tomco Company began the month of December with beginning work in...
4. The ledger of Kinsler Company has the following work in process account. Due wed. Work in Process-Painting Balance 5,390 5/31 Transferred out Materials 7,740 5/31 5/31 Labor 4,110 2,470 5/31 Overhead 5/31 Balance Production records show that there were 700 units in the beginning Inventory, 30% complete, 2,900 units started, and 3,100 units transferred. The beginning work in process had materials cost of $3,060 and conversion costs of $2,330. The units in ending inventory were 40% complete. Materials are...
please answer the followinf question. Process Costing (Cornerstone Pages): The mixing department of Seville Company uses two processes, Blending and Cooking. The following information pertains to the Blending Department for February. Units in Beginning Work in Process (40% complete) Units Completed and Transferred Out Units in Ending Work in Process (60% complete) 100,000 370,000 50,000 Production Costs are as follows: Cost for Beginning WIP: Materials Conversion Total: $20,000 $40,000 $60,000 Current Costs: Materials Conversion Total: $200,000 $350,000 $550,000 * Note:...
Crane Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. June 0...
Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. Production Data...
Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. Production Data...
QUESTION 1 Equivalent Units, No Beginning Work in Process Frankle Manufacturing produces cylinders used in internal combustion engines. During June, Frankle’s welding department had the following data: Units in BWIP — Units completed 47,000 Units in EWIP (40% complete) 5,600 Required: Calculate June's output for the welding department in equivalent units of production. units QUESTION 2 Unit Cost, Valuing Goods Transferred Out and EWIP During April, the grinding department of Tranx Inc. completed and transferred out 312,000 units. At the...
Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2017 are presented below Producti Beginning...
Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. Production Data...
Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. Production Data...
Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. Production Data...