SOLUTION-60)
PART-A)
Units |
Tfd-in |
Material |
Conversion |
|
Opening WIP Inventory |
900 |
900 |
900 |
360 |
Started and completed |
4,500 |
4,500 |
4,500 |
4,500 |
Closing WIP Inventory |
500 |
500 |
200 |
|
Equivalent units of production |
5,900 |
5,900 |
5,400 |
5,060 |
PART-B)
Total |
Material |
Conversion |
|
Opening WIP Inventory |
16,065 |
||
Current Costs |
56,425 |
35,200 |
21,225 |
Total costs accounted |
72,490 |
||
Equivalent units of production |
6,100 |
4,400 |
4,245 |
Cost per equivalent units of production |
12 |
8 |
5 |
PART-C)
Amount-in |
Amount-out |
|
Opening WIP Inventory |
16,065 |
|
Transferred In |
2,080 |
|
Material |
1,625 |
|
Spoilage |
43,969 |
47,674 |
Total cost of good transferred |
63,739 |
|
Direct Material |
3,520 |
|
Converstion Cost |
1,100 |
4,620 |
Total cost accounted |
68,359 |
PART-D)
Total |
Tfd in |
Material |
|
Total cost of good transferred |
13,514 |
||
Current Costs |
79,989 |
63,739 |
4,950 |
Total costs accounted |
93,503 |
||
Equivalent units of production |
5,900 |
5,900 |
5,400 |
Cost per equivalent units of production |
15.85 |
10.8 |
0.92 |
PART-E)
Amount in |
Amount out |
|
Transferred Out |
||
Opening WIP Inventory |
13,514 |
|
Material |
825 |
|
Conversion |
804 |
15,143 |
Spoilage |
71,316 |
|
Total cost of good tfd |
86,459 |
|
Transferred In |
5,402 |
|
Conversion Cost |
447 |
5,848 |
Total cost accounted |
92,307 |
Chapter 6 rocess Costing 59. LO.3 & LO.4 (FIFOi second department) Use the information for Octavia...
I need help on my homework, how do I get a hold of someone? Plattsburg Plastics Corporation manufactures a variety of plastic products, including a series of molded chairs. The three models of molded chairs, which are all variations of the same design, are Standard (can be stacked), Deluxe (with arms), and Executive (with arms and padding). The company uses batch manufacturing and has an operation-costing system. The production process includes an extrusion operation and subsequent operations to form, trim,...
second department Angerstein Inc. produces calendars in a two-process, two-department operation. In the Printing Department, calendars are printed and cut. In the Assembly Department, the material received from Printing is assembled into individual calendars and bound. Each department maintains its own Work in Process Inventory, and costs are assigned using FIFO process costing. In Assembly, conversion costs are incurred evenly throughout the process; direct material is added at the end of the process. For September, the following production and cost...
LIM Unit 4 Process Costing Steps in Determining the Weighted Average Costs for Process Costing 1. Recap Costs 2. Determine the physical flow of units - how many physical units did you work on? 3. Determine EUP 1. For materials (always at 100%) 2. For conversion costs (direct labor and overhead) 4. Determine the unit cost 1. For materials 2. For conversion costs 3. And total 5. Allocate the costs incurred to goods 1. Finished and not finished 6. Reconcile...
Problem 6-46 FIFO Method; Two Departments [LO 6-2, 6-5, 6-6] Bhatti Company produces plastic photo frames. Two departments, molding and finishing, are involved in the manufacturing. The E molding department fills the molds with hot liquid plastic that is left to cool and then opens them. The finishing department removes the plastic frame from the mold and strips the edges of the frames of extra plastic. The following information is available for the month of January: Work-in-Process Inventory Molding department...
Verer Custom Carpentry manufactures chairs in its Processing Department. Direct materials are included at the inception 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 are placed into production. After inspection, some units are spoiled due to undetectable material defects. Spoiled units generally constitute 4% of the good units. Data provided for March 2017 are as follows: WIP, beginning inventory 3/1/2017...
5 Part 3 of 4 Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below) Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 11.300 units during November. The following production activity unit and cost information refers to the assembly department's November production activities. 2.27 Book Percent of Direct Materiale Asembly Department Beginning work in process Units transferred out ding work in process 3,000 10.000 4,300...
I need help with my assignment please.. Exercise 3-4 Weighted average: Equivalent units computed LO C2 The production department in a process manufacturing system completed 279,000 units of product and transferred them to finished goods during a recent period of these units, 59,000 were in process at the beginning of the period. The other 220,000 units were started and completed during the period. At period end, 39,000 units were in process. Prepare the department's equivalent units of production with respect...
-------------HOMEWORK ASSIGNMENT ---------- Wallpaper of Texas manufacturers rolls of wallpaper and has processing departments: spinning, dyeing and cutting. Manufacturing begins in the spinning department and moves to the dyeing department where additional material from the raw material inventory is added along with conversion costs as the rolls dyed. All materials for the dyeing process are added at the beginning of work in the dyeing department. Conversion costs (manufacturing overhead and direct labor) are added evenly throughout the dyeing process. The...
Problem 6-44 FIFO Method [LO 6-2, 6-3, 6-5) Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction industry). The following information is for the production of these trusses for the month of February oints Print 4,200 trusses $10,680 $15,458 18,200 trusses 17,200 trusses References Work-in-process inventory, February 1 Direct materials: 100complete Conversion: 209 complete Units started during February Units completed during February and transferred out Work-in-process inventory, February 29 Direct materials: 100%...
Exercise 8-42 (Algo) Prepare a Production Cost Report: Weighted-Average Method (LO 8-2, 3, 4, 6) Lansing, Inc. provides the following information for one of its department’s operations for June (no new material is added in Department T). WIP inventory—Department T Beginning inventory ((8,100 units, 20% complete with respect to Department T costs) Transferred-in costs (from Department S) $ 34,580 Department T conversion costs 7,974 Current work (18,700 units started) Prior department costs 86,020 Department T costs 155,610 The ending inventory...