Costs | Materials | Conversion Costs | Total | ||
Unit costs | |||||
Costs in September | 8820 | 26016 | 34836 | ||
Equivalent units | 1260 | 1084 | |||
Unit costs | 7.00 | 24.00 | 31.00 | ||
Costs to be accounted for | |||||
Work in process, September 1 | 5040 | ||||
Started into production | 29796 | ||||
Total costs | 34836 | ||||
Cost Reconciliation Schedule | |||||
Costs accounted for | |||||
Transferred out | 25420 | =820*31 | |||
Work in process, September 30 | |||||
Materials | 3080 | =440*7 | |||
Conversion costs | 6336 | 9416 | =440*60%*24 | ||
Total costs | 34836 |
Question 3 Hi-Tech Mortgage Company uses a process costing system to accumulate costs in its loan...
Question 3 Hi-Tech Mortgage Company uses a process costing system to accumulate costs in its loan application department. When an application is completed, it is forwarded to the loan department for final processing. The following processing and cost data pertain to September: 1. $1,160 3,880 2. Applications in process on September 1, 80 Applications started in September, 1,180 Completed applications during September, 820 Applications still in process at September 30 were 100% complete in terms of materials (forms) and 60%...
Question 3 Hi-Tech Mortgage Company uses a process costing system to accumulate costs in its loan application department. When an application is completed, it is forwarded to the loan department for final processing. The following processing and cost data pertain to September: Applications in process on Beginning work in process: 1. $1,160 September 1, 80 Direct materials Conversion costs 3,880 2. Applications started in September, 1,180 September costs: Completed applications during Direct materials $7,660 3. September, 820 11,050 Direct labour...
Hi-Tech Mortgage Company uses a process costing system to accumulate costs in its loan application department. When an application is completed, it is forwarded to the loan department for final processing. The following processing and cost data pertain to September: 1. Applications in process on Beginning work in process: September 1, 80 Direct materials $1,160 2. Applications started in Conversion costs 3,820 September, 1,110 September costs: 3. Completed applications during Direct materials $4,790 September, 860 Direct...
Question 3 Hi-Tech Mortgage Company uses department for final processing. The following processing and cost data pertain to September: process costing system to accumulate costs in its loan application department. When an application is completed, it is forwarded to the loan 1. Applications in process on Beginning work in process: September 1, 80 Direct materials $1,160 Applications started in Conversion costs 2. 3,880 September, 1,180 September costs: 3. Completed applications during $7,660 Direct materials September, 820 Direct labour 11,050 11,086...
Exercise 3-15 Santana Mortgage Company uses a process cost system to accumulate costs in its Application Department. When an application is completed, it is forwarded to the Loan Department for final processing. The following processing and cost data pertain to September. 1. Applications in process on September 1, 100 2. Applications started in September, 900 3. Completed applications during September, 700 4. Applications still in process at September 30 were 100% complete as to materials (forms) and 60% complete as...
Santana Mortgage Company uses a process cost system to accumulate costs in its Application Department. When an application is completed, it is forwarded to the Loan Department for final processing. The following processing and cost data pertain to September. 1. Applications in process on September 1, 100 2. Applications started in September, 900 3. Completed applications during September, 700 4. Applications still in process at September 30 were 100% complete as to materials (forms) and 60% complete as to conversion...
Santana Mortgage Company uses a process cost system to accumulate costs in its Application Department. When an application is completed, it is forwarded to the Loan Department for final processing. The following processing and cost data pertain to September 1. Applications in process on September 1, 100 2. Applications started in September, 900 3. Completed applications during September, 700 4. Applications still in process at September 30 were 100% complete as to materials (forms) and 60% complete as to conversion...
Santana Mortgage Company uses a process cost system to accumulate costs in its Application Department. When an application is completed, it is forwarded to the Loan Department for final processing. The following processing and cost data pertain to September. 1. Applications in process on September 1, 200 2. Applications started in September, 900 3. Completed applications during September, 600 4. Applications still in process at September 30 were 100% complete as to materials (forms) and 60% complete as to conversion...
Santana Mortgage Company uses a process cost system to accumulate costs in its Application Department. When an application is completed, it is forwarded to the Loan Department for final processing. The following processing and cost data pertain to September 1. Applications in process on September 1, 200 2. Applications started in September, 900 3. Completed applications during September, 600 4. Applications still in process at September 30 were 100% complete as to materials (forms) and 60% complete as to conversion...
Exercise 3-15 Santana Mortgage Company uses a process cost system to accumulate costs in its Application Department. When an application is completed, it is forwarded to the Loan Department for final processing. The following processing and cost data pertain to September 1. Applications in process on September 1, 200 2. Applications started in September, 1,000 3. Completed applications during September, 700 4. Applications still in process at September 30 were 100% complete as to materials (forms) and 60% complete as...