Question

Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company has the following production and...

Exercise 16-11 (Part Level Submission)

The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process.

Production: Beginning inventory 1,860 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 45,100; ending inventory of 5,700 units 10% complete as to conversion costs.

Manufacturing costs: Beginning inventory costs, comprised of $20,800 of materials and $42,944 of conversion costs; materials costs added in Polishing during the month, $226,210; labor and overhead applied in Polishing during the month, $125,900 and $258,240, respectively.

Collapse question part

(a)

Correct answer. Your answer is correct.
Compute the equivalent units of production for materials and conversion costs for the month of September.

Materials

Conversion Costs

The equivalent units of production

Entry field with correct answer46960

Entry field with correct answer41830

Click if you would like to Show Work for this question:

Open Show Work

SHOW SOLUTION

SHOW ANSWER

LINK TO TEXT

Attempts: 1 of 3 used

Collapse question part

(b)

Correct answer. Your answer is correct.
Compute the unit costs for materials and conversion costs for the month. (Round unit costs to 2 decimal places, e.g. 2.25.)

Materials

Conversion Costs

Unit costs $

Entry field with correct answer5.26

$

10.21Entry field with correct answer

Click if you would like to Show Work for this question:

Open Show Work

SHOW SOLUTION

SHOW ANSWER

LINK TO TEXT

Attempts: 2 of 3 used

Collapse question part

(c)

Partially correct answer. Your answer is partially correct. Try again.
Determine the costs to be assigned to the units transferred out and in process. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 1,225.)
Transferred out $

Entry field with incorrect answer

Ending work in process $

35801.70

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Solution a:

Computation of Equivalent unit of Production - Polishing department
Particulars Physical Units Material Conversion
Units to account for:
Beginning WIP 1860
Started into Production 45100
Total units to account for 46960
Units accounted for:
Unit completed & Transferred out 41260 41260 41260
Units in ending inventory: 5700
Material (100%) 5700
Conversion (10%) 570
Equivalent units of production 46960 46960 41830

Solution b:

Computation of Cost per equivalent unit - Polishing department
Particulars Material Conversion Total
Beginning invenotry cost $20,800 $42,944 $63,744
Current period cost $226,210 $384,140 $610,350
Total cost to be accounted for $247,010 $427,084 $674,094
Equivalent units of production 46960 41830
Cost per Equivalent unit $5.26 $10.21

Solution c:


Computation of Cost of ending WIP and units completed & transferred out - Polishing Department
Particulars Material Conversion Total
Equivalent unit of Ending WIP 5700 570
Cost per equivalent unit $5.26 $10.21
Cost of Ending WIP (Equivalent unit * Cost per equivalent unit) $29,982 $5,820 $35,802
Units completed and transferred 41260 41260
Cost of units completed & Transferred (Unit completed * cost per equivalent unit) $217,028 $421,264 $638,292
Add a comment
Know the answer?
Add Answer to:
Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company has the following production 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
  • Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company has the following production and...

    Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,520 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 41,300; ending inventory of 7,300 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $21,600 of materials and $12,585 of...

  • Please help with Part C Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company...

    Please help with Part C Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,730 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 46,900; ending inventory of 7,700 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $22,100...

  • Exercise 16-11 The Polishing Department of Major Company has the following production and manufacturi cost data...

    Exercise 16-11 The Polishing Department of Major Company has the following production and manufacturi cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,580 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 45,500; ending inventory of 5,200 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $21,400 of materials and $58,044 of conversion costs; materials...

  • Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company has the following production and...

    Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,860 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 45,100; ending inventory of 5,700 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,800 of materials and $42,944 of...

  • The Polishing Department of Major Company has the following production and manufacturing cost data for September....

    The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,580 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 46,000; ending inventory of 6,400 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,900 of materials and $63,834 of conversion costs; materials costs added...

  • The Polishing Department of Major Company has the following production and manufacturing cost data for September....

    The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1.520 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 41,300; ending inventory of 7,400 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $21,600 of materials and $12,320 of conversion costs; materials costs added...

  • The Polishing Department of Major Company has the following production and manufacturing cost data for September....

    The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,600 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 45,600; ending inventory of 5,400 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,500 of materials and $61,330 of conversion costs; materials costs added...

  • The Polishing Department of Major Company has the following production and manufacturing cost data for September....

    The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,560 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 41,700; ending inventory of 6,600 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,400 of materials and $12,418 of conversion costs; materials costs added...

  • The Polishing Department of Major Company has the following production and manufacturing cost data for September....

    The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,580 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 41,200; ending inventory of 6,600 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,600 of materials and $14,674 of conversion costs; materials costs added...

  • The Polishing Department of Major Company has the following production and manufacturing cost data for September....

    The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,660 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 45,300; ending inventory of 7,800 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $22,000 of materials and $40,521 of conversion costs; materials costs added...

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