Homework Answers
A ) Equivalent Units -Direct Material
Units completed and transferred 58,000
Materials 58,000
Conversion cost 58,000
Ending work in progress
Inventory 20,000
Started during August 53,000
completed and transferred 58,000
Ending work in progress 15000 in this only 70 % is complete so 15000*70/100 =10500
Total conversion 10500+58000=68500
Direct material used 53000+20000 = 73,000
Now Calculate cost per Equivalent unit
Work in progress 80,000
Cost during period of august 136,000
Total direct material cost 216,000
Equivalent unit 73,000
Cost of direct material per unit =216000/73000
=2.96
Conversion Cost per unit
Beginning conversion work in progress 24,000
Cost during period 242,000
Total conversion cost 266,000
Equivalent units 68500
Per unit =266,000/68500
= 3.88
| Direct Materials |
Conversion |
||
| a | Equivalent Units | 73,000 | 68500 |
| b | Cost Per Equivalent Unit | 2.96 | 3.88 |
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Badgersize Company has the following information for its Forming Department for the month of August. $...
Badgersize Company has the following information for its Forming Department for the month of August. Work in Process In...
Badgersize Company has the following information for its Forming Department for the month of August. Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete Conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials 80,000 24,000 104,000 54,000 58,000 ? 157,000 Conversion costs: Direct labor 112,000 Overhead applied 147,000 259,000...
Explanations for each answer are appreciated. Badgersize Company has the following information for its Forming Department...
Explanations for each answer are
appreciated.
Badgersize Company has the following information for its Forming Department for the month of August Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete $80,000 24,000 $ 104,000 48,000 56,000 conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials Conversion costs Direct labor...
Badgersize Company has the following information for its Forming Department for the month of August. Work...
Badgersize Company has the following information for its Forming Department for the month of August. Work in Process Inventory, August 1: 20,900 units Direct materials: 100% complete s 80,eee 24,e00 $104,00e 55,e00 56,000 conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials Conversion costs: Direct labor Overhead applied $138,000 $117,e00 147,000 $264,006e...
Hi, would you help me with the solution of the problem below? Thanks Tanya Badgersize Company...
Hi, would you help me with the solution of the problem below? Thanks Tanya Badgersize Company has the following information for its Forming Department for the month of August. Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete $ 80,000 Conversion: 20% complete 24,000 Balance in work in process, August 1 $ 104,000 Units started during August 50,000 Units completed and transferred in August 60,000 Work in process (70% complete), August 31 ? Costs charged to Work...
Badgersize company
Badgersize Company has the following information for its Forming Department for the month of August:Work in Process Inventory, August 1: 20,000 unitsDirect materials: 100% complete $ 80,000Conversion: 20% complete 24,000Balance in work in process, August 1 $ 104,000Units started during August 50,000Units completed and transferred in August 60,000Work in process (70% complete), August 31 ?Costs charged to Work in Process in AugustDirect materials $ 150,000Conversion costs:Direct labor $ 120,000Overhead applied 132,000Total conversion $ 252,000Assume materials are added at the start...
The answers that I got before were: A) for Direct materials is $237,000 and for conversion...
The answers that I got before were:
A) for Direct materials is $237,000 and for conversion is
$283,000
B) For direct materials is 3.20 and for conversion is 4.09.
The assignment said that these were not correct. Thank you in
advance for your help!
Badgersize Company has the following information for its Forming Department for the month of August. $ 80,000 24,000 $ 104,000 54,000 58,000 Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete Conversion: 20%...
Work in Process Inventory, August 1 20,000 units Direct materials: 100% complete $80,000 24,000 104,000 45,000...
Work in Process Inventory, August 1 20,000 units Direct materials: 100% complete $80,000 24,000 104,000 45,000 Conversion: 20% complete Balance in work in process, August 1 $ Units started during August Units completed and transferred in August work in process (70% complete), August 31 Costs charged to Work in Process in 57,000 7 August 166,000 Direct materials Conversion costs Direct labor Overhead applied 104,000 142,000 246,000 Total conversion Assume materials are added at the start of processing Instructions a. Calculate...
The following information applies to the questions displayed below.] Fields Company has two manufacturing departments, forming...
The following information applies to the questions displayed below.] Fields Company has two manufacturing departments, forming and painting. The company uses the weighted- average method of process costing. At the beginning of the month, the forming department has 33,000 units in inventory, 65% complete as to materials and 35% complete as to conversion costs. The beginning inventory cost of $76,100 consisted of $54,400 of direct materials costs and $21,700 of conversion costs During the month, the forming department started 460.000...
[The following information applies to the questions displayed below) Fields Company has two manufacturing departments, forming...
[The following information applies to the questions displayed below) Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method of process costing. At the beginning of the month, the forming department has 30,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $69,100 consisted of $50,200 of direct materials costs and $18.900 of conversion costs. During the month, the forming department started 390,000...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method of process costing. At the beginning of the month, the forming department has 37,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $84,100 consisted of $59,200 of direct materials costs and $24,900 of conversion costs. During the month, the forming department started 540,000 units. At the end of the month, the forming...
Badgersize Company has the following information for its Forming Department for the month of August. Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete Conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials 80,000 24,000 104,000 54,000 58,000 ? 157,000 Conversion costs: Direct labor 112,000 Overhead applied 147,000 259,000...
Explanations for each answer are
appreciated.
Badgersize Company has the following information for its Forming Department for the month of August Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete $80,000 24,000 $ 104,000 48,000 56,000 conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials Conversion costs Direct labor...
Badgersize Company has the following information for its Forming Department for the month of August. Work in Process Inventory, August 1: 20,900 units Direct materials: 100% complete s 80,eee 24,e00 $104,00e 55,e00 56,000 conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials Conversion costs: Direct labor Overhead applied $138,000 $117,e00 147,000 $264,006e...
The answers that I got before were:
A) for Direct materials is $237,000 and for conversion is
$283,000
B) For direct materials is 3.20 and for conversion is 4.09.
The assignment said that these were not correct. Thank you in
advance for your help!
Badgersize Company has the following information for its Forming Department for the month of August. $ 80,000 24,000 $ 104,000 54,000 58,000 Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete Conversion: 20%...
Work in Process Inventory, August 1 20,000 units Direct materials: 100% complete $80,000 24,000 104,000 45,000 Conversion: 20% complete Balance in work in process, August 1 $ Units started during August Units completed and transferred in August work in process (70% complete), August 31 Costs charged to Work in Process in 57,000 7 August 166,000 Direct materials Conversion costs Direct labor Overhead applied 104,000 142,000 246,000 Total conversion Assume materials are added at the start of processing Instructions a. Calculate...
The following information applies to the questions displayed below.] Fields Company has two manufacturing departments, forming and painting. The company uses the weighted- average method of process costing. At the beginning of the month, the forming department has 33,000 units in inventory, 65% complete as to materials and 35% complete as to conversion costs. The beginning inventory cost of $76,100 consisted of $54,400 of direct materials costs and $21,700 of conversion costs During the month, the forming department started 460.000...
[The following information applies to the questions displayed below) Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method of process costing. At the beginning of the month, the forming department has 30,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $69,100 consisted of $50,200 of direct materials costs and $18.900 of conversion costs. During the month, the forming department started 390,000...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method of process costing. At the beginning of the month, the forming department has 37,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $84,100 consisted of $59,200 of direct materials costs and $24,900 of conversion costs. During the month, the forming department started 540,000 units. At the end of the month, the forming...
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