Question 9:
Answer is $40,000
Calculations:
Equivalent units | |||
Materials | Conversion | ||
Units completed | 75,000 | 75,000 | |
Ending work-in process | |||
[25,000 x 100%] | 25,000 | ||
[25,000 x 20%] | 5,000 | ||
Total equivalent units | 100,000 | 80,000 | |
Cost per equivalent unit | |||
Materials | Conversion | ||
Total cost added | $120,000 | $160,000 | |
÷ Equivalent units | 100,000 | 80,000 | |
= Cost per equivalent unit | $1.20 | $2.00 | |
Cost of ending work-in process | |||
Materials | Conversion | Total | |
Ending work in process unis | 25,000 | 5,000 | |
x Cost per equivalent unit | $1.20 | $2.00 | |
= Total cost of ending work-in process | $30,000 | $10,000 | $40,000 |
Question 10:
Answer is $221,750
Calculations:
Cost of ending work-in process | |||
Materials | Labor and Overhead | Total | |
Ending work in process unis | 22,000 | 20,150 | |
x Cost per equivalent unit | $5.50 | $5.00 | |
= Total cost of ending work-in process | $121,000 | $100,750 | $221,750 |
3 38 L LLLL LLLS 46 47 QUESTIONS Wilson Inc. uses process costing, Its Sanitizing Department...
Iron Inc. manufactures paint in a highly automated process. Its costing system uses two cost categories: direct materials and conversion costs. Each batch of product must pass through the Mixing Department and the Testing Department. Direct materials are all added at the beginning of the production process, and conversion costs are incurred evenly throughout production. Forge uses the weighted-average method for costing. Data for the Mixing Department for September Work in process, beginning inventory: 600 units Conversion costs: 50% complete...
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 55,000 95 % 60 % Work in process, October 31 25,000 72 % 49 % The department started 378,000 units into production during the month and transferred 408,000 completed units to the next department. Required: Compute the equivalent units of production for October. 2. Superior Micro Products uses...
8. Paxton Corporation uses the weighted-average method in its
process costing system. The Molding Department is the second
department in its production process. The data below summarize the
department's operations in January.
The accounting records indicate that the conversion cost that had
been assigned to beginning work in process inventory was $10,973
and a total of $268,107 in conversion costs were incurred in the
department during January.
What was the cost per equivalent unit for conversion costs for
January in...
Holling Inc. uses the weighted-average
method in its process costing. The following data concern the
company’s Mixing Department for the month of December. Materials
Conversion Work in process, December 1 $ 8,330 $ 9,328 Cost added
to production in the Mixing Department during December $ 226,700 $
284,432 Equivalent units of production for December 10,100
9,600
Holling Inc. uses the weighted average method in its process costing. The following data concern the company's Mixing Department for the month of December....
1. The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 21,200 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $3.55 for materials and $5.05 for labor and overhead, the total...
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 53,000 90 % 60 % Work in process, October 31 40,000 73 % 53 % The department started 395,000 units into production during the month and transferred 408,000 completed units to the next department. Required: Compute the equivalent units of production for October. Clonex Labs, Inc., uses the...
Helix Corporation uses the weighted-average method in its
process costing system. It produces prefabricated flooring in a
series of steps carried out in production departments. All of the
material that is used in the first production department is added
at the beginning of processing in that department. Data for May for
the first production department follow:
Percent Complete
Units
Materials
Conversion
Work in process
inventory, May 1
53,000
100
%
30
%
Work in process inventory, May
31
33,000
100...
you serve ware and uses process costing. At the start of May, 2,300 units were in process. During May, 11,000 units were completed and 2,000 units were in process at the end of May. The units in process at the end of May were 80% complete with respect to material and 30% complete with respect to conversion costs. Other information is as follows: Work in process, May 1: Direct material $28,800 Conversion costs 48,000 Costs incurred during May: Direct material...
Clonex Labs, Inc., uses the weighted average method in its process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion 55,000 90% 55% Work in process, October 1 Work in process, October 31 35,000 73% 50% The department started 389,000 units into production during the month and transferred 409,000 completed units to the next department. Required: Compute the equivalent units of production for October. Materials Conversion Equivalent units of production Superior Micro...
Q1: Clonex Labs, Inc., uses the weighted average method in its process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion 54,000 85% 60% 26,000 72% 45% Work in process, October 1 Work in process, October 31 The department started 380,000 units into production during the month and transferred 408,000 completed units to the next department. Required: Compute the equivalent units of production for October Materials Conversion Equivalent units of production Q#2:...