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Wildhorse Dog Products manufactures toys for dogs and cats. The most popular toy is a ball...
MANAGERIAL ACCOUNTING DISCUSSION PROBLEM 7 PROCESS COSTING-SINGLE DEPARTMENT Van Buren Company manufactures a product that uses...
MANAGERIAL ACCOUNTING DISCUSSION PROBLEM 7 PROCESS COSTING-SINGLE DEPARTMENT Van Buren Company manufactures a product that uses a process cost system to accumulate its costs of production. The following information is available for the month of February regarding costs of production for this product. VAN BUREN COMPANY COSTS OF PRODUCTION FOR PROCESS COSTING ANALYSIS FOR MONTH OF FEBRUARY Beginning WIP: Direct Materials 40,000 Conversion Costs 90,000 Current Period: Direct Materials 375,900 Conversion Costs 575,250 The company had 5,000 units in beginning...
Valley Past Inc., uses the weighted average method for process costing. Valley produces oil products that...
Valley Past Inc., uses the weighted average method for process costing. Valley produces oil products that pass through two sequential departments. All the materials are added at the beginning of the process while conversion costs are incurred evenly throughout the process. The work in process inventory for Department 1 at the beginning of March 2019 consisted of 12,000 gallons. There were beginning costs containing $135,000 of materials and $25,000 of Direct Labor and $10,000 of Manufacturing Overhead. During March 135,000...
Jordana Woolens is a manufacturer of wool cloth. The information of March is as follows: Beginning...
Jordana Woolens is a manufacturer of wool cloth. The information of March is as follows: Beginning work in progress 10,000 units Units started 20,000 units units completed 25,000 units Beginning work-in-process Direct Materials $6,000 Beginning work-in-process conversion $2,600 Direct materials added during month $30,000 Direct manufacturing labor during month $12,000 Factory overhead $5,000 Beginning work in process was half converted as to labor and overhead. Direct materials are added at the beginning of the process. All conversion costs are incurred...
DPC manufactures medical testing strips in a continuous process environment. Direct materials are added at the...
DPC manufactures medical testing strips in a continuous process environment. Direct materials are added at the beginning of the process. Conversion costs are added throughout the manufacturing process. The manufacturer has a computer-aided quality control step that rejects 1.5% of the production for defects. Requirements: Compute the numbers for normal and abnormal spoilage. Compute the equivalent units. Compute the cost per unit completed and transferred out of the process. Summarize the total costs to account for, compute the cost per...
Apco manufactures desk organizers in its Processing Department. Direct materials are included at the start of...
Apco manufactures desk organizers in its Processing Department. Direct materials are included at the start of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Inspection takes place as units reach 80% of the production. Normal spoiled units generally constitute 1% of the good units (units that pass inspection point). Data provided for March 2020 are as follows: Apco uses FIFO method. WIP, beginning inventory 65,000 units...
MANAGERIAL ACCOUNTING HANDOUT PROBLEM 6 Score Name Section Problem (10 points). Britten Company manufactures room air...
MANAGERIAL ACCOUNTING HANDOUT PROBLEM 6 Score Name Section Problem (10 points). Britten Company manufactures room air conditioners. The company uses a process cost system to accumulate production costs and allocate them to finished goods and work in process inventory. For the month of May of the current year, the company started with 1,500 units in work in process inventory and started on 3,500 additional units during the month. At the end of May, there were 600 units that remained uncompleted....
*Problem 4-47A Jessica Company manufactures hockey pucks and soccer balls. For both products, materials are added...
*Problem 4-47A
Jessica Company manufactures hockey pucks and soccer balls. For
both products, materials are added at the beginning of the
production process and conversion costs are incurred evenly.
Jessica uses the FIFO method to calculate equivalent units.
Production and cost data for the month of August are as
follows:
Production Data—Hockey pucks
Units
Percent Complete
Work in process units, August 1
400
70%
Units started into production
1,550
Work in process units, August 31
580
30%
Cost Data—Hockey pucks...
Problem 4-47A Jessica Company manufactures hockey pucks and soccer balls. For both products, materials are added...
Problem 4-47A
Jessica Company manufactures hockey pucks and soccer balls. For
both products, materials are added at the beginning of the
production process and conversion costs are incurred evenly.
Jessica uses the FIFO method to calculate equivalent units.
Production and cost data for the month of August are as
follows:
Production Data—Hockey pucks
Units
Percent Complete
Work in process units, August 1
400
70%
Units started into production
1,550
Work in process units, August 31
580
30%
Cost Data—Hockey pucks...
Production Report, No Beginning Inventory Softkin Company manufactures sun protection lotion. The Mixing Department, the first...
Production Report, No Beginning Inventory Softkin Company manufactures sun protection lotion. The Mixing Department, the first process department, mixes the chemicals required for the repellant. The following data are for the current year: Work in process, January 1 — Gallons started 450,000 Gallons transferred out 378,000 Direct materials cost $900,000 Direct labor cost $1,785,600 Overhead applied $2,678,400 Direct materials are added at the beginning of the process. Ending inventory is 95 percent complete with respect to direct labor and overhead....
pleasedo the whole thing ❤️ 9 1 Exercise 3 2 3 Global Defense manufactures its product...
pleasedo the whole thing ❤️
9 1 Exercise 3 2 3 Global Defense manufactures its product in two departments, Assembly and Testing. 4 The following information is available for the month of March. 5 Assembly Department 6 The beginning work in process inventory consisted of 225 units with a total cost of 7 $26,100 ($18,000 direct materials and $8,100 conversion costs). The beginning 8 work in process inventory was 80% complete as to conversion costs. During March, an additional 275...
MANAGERIAL ACCOUNTING DISCUSSION PROBLEM 7 PROCESS COSTING-SINGLE DEPARTMENT Van Buren Company manufactures a product that uses a process cost system to accumulate its costs of production. The following information is available for the month of February regarding costs of production for this product. VAN BUREN COMPANY COSTS OF PRODUCTION FOR PROCESS COSTING ANALYSIS FOR MONTH OF FEBRUARY Beginning WIP: Direct Materials 40,000 Conversion Costs 90,000 Current Period: Direct Materials 375,900 Conversion Costs 575,250 The company had 5,000 units in beginning...
Valley Past Inc., uses the weighted average method for process costing. Valley produces oil products that pass through two sequential departments. All the materials are added at the beginning of the process while conversion costs are incurred evenly throughout the process. The work in process inventory for Department 1 at the beginning of March 2019 consisted of 12,000 gallons. There were beginning costs containing $135,000 of materials and $25,000 of Direct Labor and $10,000 of Manufacturing Overhead. During March 135,000...
MANAGERIAL ACCOUNTING HANDOUT PROBLEM 6 Score Name Section Problem (10 points). Britten Company manufactures room air conditioners. The company uses a process cost system to accumulate production costs and allocate them to finished goods and work in process inventory. For the month of May of the current year, the company started with 1,500 units in work in process inventory and started on 3,500 additional units during the month. At the end of May, there were 600 units that remained uncompleted....
*Problem 4-47A
Jessica Company manufactures hockey pucks and soccer balls. For
both products, materials are added at the beginning of the
production process and conversion costs are incurred evenly.
Jessica uses the FIFO method to calculate equivalent units.
Production and cost data for the month of August are as
follows:
Production Data—Hockey pucks
Units
Percent Complete
Work in process units, August 1
400
70%
Units started into production
1,550
Work in process units, August 31
580
30%
Cost Data—Hockey pucks...
Problem 4-47A
Jessica Company manufactures hockey pucks and soccer balls. For
both products, materials are added at the beginning of the
production process and conversion costs are incurred evenly.
Jessica uses the FIFO method to calculate equivalent units.
Production and cost data for the month of August are as
follows:
Production Data—Hockey pucks
Units
Percent Complete
Work in process units, August 1
400
70%
Units started into production
1,550
Work in process units, August 31
580
30%
Cost Data—Hockey pucks...
pleasedo the whole thing ❤️
9 1 Exercise 3 2 3 Global Defense manufactures its product in two departments, Assembly and Testing. 4 The following information is available for the month of March. 5 Assembly Department 6 The beginning work in process inventory consisted of 225 units with a total cost of 7 $26,100 ($18,000 direct materials and $8,100 conversion costs). The beginning 8 work in process inventory was 80% complete as to conversion costs. During March, an additional 275...
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