Homework Answers
Answer:
Correct answer is:
$0.20
Explanation:
Ending work in process is 100% complete for material cost.
Under weighted average cost method:
Equivalent unit of production for Direct material = Units completed + % complete for material * Ending work in process
= 45,000 + 100% * 5,000
= 50,000
Direct material cost to be allocated = Beginning direct material cost + cost of direct material added
= $1,000 + $9,000
=$10,000
Weighted average cost per equivalent unit on direct material = $10,000 /50,000 = $0.20
As such option A is correct and other options B, C and D are incorrect.
Add Answer to:
10 A firm's beginning direct materials costs were $1,000, and they incurred an additional $9.000 in...
Rowen, Inc. adds direct materials at the beginning of the process, while conversion costs are incurred...
Rowen, Inc. adds direct materials at the beginning of the process, while conversion costs are incurred uniformly throughout the process. At the beginning of the period, Work in Process Inventory was 50% complete. At the end of the period, Work in Process Inventory was 60% complete. Rowen, Inc. started the following production report Required: Fill in the missing amounts. (Round your "Cost per Equivalent Unit" answers to 2 decimal places.) ROWEN, INC. Process Costing Production Report (Weighted Average Method) UNITS...
Help S. Rowen, Inc. adds direct materials at the beginning of the process, while conversion costs...
Help S. Rowen, Inc. adds direct materials at the beginning of the process, while conversion costs are incurred uniformly throughout the process. At the beginning of the period, Work in Process Inventory was 50% complete. At the end of the period, Work in Process Inventory was 60% complete. Rowen, Inc. started the following production report Required: Fill in the missing amounts. (Round your "Cost per Equivalent Unit" answers to 2 decimal places.) ROWEN, INC Process Costing Production Report (Weighted Average...
Materials are added at the beginning of a production process, and ending work in process inventory...
Materials are added at the beginning of a production process, and ending work in process inventory is 20% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted average method. Costs to Account For Beginning inventory materials $9.000 Beg i nventory conversion 20.000 Direct material 58.600 Direct labor 74.000 Applied overhead 34520 Total costs to account for $196,120 Units to Account For Beginning work in process 5.000 Units started into production...
Units Percent of Direct Materials Added 60% 100% Percent of Conversion 45 Assembly Department Beginning work...
Units Percent of Direct Materials Added 60% 100% Percent of Conversion 45 Assembly Department Beginning work in process Units transferred out Ending work in process 2.000 9.000 3.000 30 $1,581 (includes $996 for direct materials and $585 for conversion) Beginning work in process Inventory-Assembly dept Costs added during the month: Direct materials Conversion $ 10,404 $ 12,285 Required: Calculate the assembly department's cost per equivalent unit of production for materials and for conversion for November. Use the weighted average method...
3. Nyanza Corporation manufactures a product that is processed in two departments. Materials are added at...
3. Nyanza Corporation manufactures a product that is processed in two departments. Materials are added at the beginning of the process. Units in beginning work in process are 40% complete as to conversion costs. The following equivalent unit schedule was prepared for the first department for the month of January Physical units Units in beginning work in process (BWIP) 10,000 Started 45,000 Units to account for 55,000 5,000 Units in beginning work in process (BWIP) 10,000 Units started and completed...
Assume the following information Milline Deporte Cost of beginning work in process mentary Costs added during...
Assume the following information Milline Deporte Cost of beginning work in process mentary Costs added during the period Total cost Materials Conversion Total $10,000 $ 15,000 $25,000 . 676,00 $191,00 5400,000 $701,600 Assume the equivalent units of production forms and conversion are 5.200 and 5.000, respectively, the weighted average method 400 units were completed and transferred to the next department, then what is the total cost of the ending work in process inventory in the Ming Departe о O 536200...
Axis, Inc. manufactures bourbon whiskey and uses a process costing system. Axis adds all materials at...
Axis, Inc. manufactures bourbon whiskey and uses a process costing system. Axis adds all materials at the beginning of the manufacturing process, while conversion costs are incurred uniformly throughout the process. Additional information for Axis appears below. Beginning work in process: 10,000 units Direct materials $ 10,000 Conversion cost (20% complete) $ 5,000 Number of units started this period 35,000 Number of units completed and transferred to finished goods 24,000 Ending work in process (80% complete for CC) Current period...
Fast Co. produces its product through two processing departments. Direct materials are added at the start...
Fast Co. produces its product through two processing departments. Direct materials are added at the start of production in the Cutting department, and conversion costs are added evenly throughout each process. The company uses monthly reporting periods for its weighted-average process costing system. The Work in Process Inventory-Cutting account has a balance of $98,300 as of October 1, which consists of $21,300 of direct materials and $77,000 of conversion costs. During the month, the Cutting department incurred the following costs:...
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...
Calculator Print item The cost per equivalent units of direct materials and conversion in the Bottling...
Calculator Print item The cost per equivalent units of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.50 and $0.20, respectively. The equivalent units to be assigned costs are as follows. Direct Materials Conversion Inventory in process, beginning of period 0 3,150 Started and completed during the period 56,410 56,410 Transferred out of Bottling (completed) 56,410 59,560 Inventory in process, end of period 3,620 2,500 Total units to be assigned costs 60,030 62,060 The...
Rowen, Inc. adds direct materials at the beginning of the process, while conversion costs are incurred uniformly throughout the process. At the beginning of the period, Work in Process Inventory was 50% complete. At the end of the period, Work in Process Inventory was 60% complete. Rowen, Inc. started the following production report Required: Fill in the missing amounts. (Round your "Cost per Equivalent Unit" answers to 2 decimal places.) ROWEN, INC. Process Costing Production Report (Weighted Average Method) UNITS...
Help S. Rowen, Inc. adds direct materials at the beginning of the process, while conversion costs are incurred uniformly throughout the process. At the beginning of the period, Work in Process Inventory was 50% complete. At the end of the period, Work in Process Inventory was 60% complete. Rowen, Inc. started the following production report Required: Fill in the missing amounts. (Round your "Cost per Equivalent Unit" answers to 2 decimal places.) ROWEN, INC Process Costing Production Report (Weighted Average...
Materials are added at the beginning of a production process, and ending work in process inventory is 20% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted average method. Costs to Account For Beginning inventory materials $9.000 Beg i nventory conversion 20.000 Direct material 58.600 Direct labor 74.000 Applied overhead 34520 Total costs to account for $196,120 Units to Account For Beginning work in process 5.000 Units started into production...
Units Percent of Direct Materials Added 60% 100% Percent of Conversion 45 Assembly Department Beginning work in process Units transferred out Ending work in process 2.000 9.000 3.000 30 $1,581 (includes $996 for direct materials and $585 for conversion) Beginning work in process Inventory-Assembly dept Costs added during the month: Direct materials Conversion $ 10,404 $ 12,285 Required: Calculate the assembly department's cost per equivalent unit of production for materials and for conversion for November. Use the weighted average method...
3. Nyanza Corporation manufactures a product that is processed in two departments. Materials are added at the beginning of the process. Units in beginning work in process are 40% complete as to conversion costs. The following equivalent unit schedule was prepared for the first department for the month of January Physical units Units in beginning work in process (BWIP) 10,000 Started 45,000 Units to account for 55,000 5,000 Units in beginning work in process (BWIP) 10,000 Units started and completed...
Assume the following information Milline Deporte Cost of beginning work in process mentary Costs added during the period Total cost Materials Conversion Total $10,000 $ 15,000 $25,000 . 676,00 $191,00 5400,000 $701,600 Assume the equivalent units of production forms and conversion are 5.200 and 5.000, respectively, the weighted average method 400 units were completed and transferred to the next department, then what is the total cost of the ending work in process inventory in the Ming Departe о O 536200...
Axis, Inc. manufactures bourbon whiskey and uses a process costing system. Axis adds all materials at the beginning of the manufacturing process, while conversion costs are incurred uniformly throughout the process. Additional information for Axis appears below. Beginning work in process: 10,000 units Direct materials $ 10,000 Conversion cost (20% complete) $ 5,000 Number of units started this period 35,000 Number of units completed and transferred to finished goods 24,000 Ending work in process (80% complete for CC) Current period...
Calculator Print item The cost per equivalent units of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.50 and $0.20, respectively. The equivalent units to be assigned costs are as follows. Direct Materials Conversion Inventory in process, beginning of period 0 3,150 Started and completed during the period 56,410 56,410 Transferred out of Bottling (completed) 56,410 59,560 Inventory in process, end of period 3,620 2,500 Total units to be assigned costs 60,030 62,060 The...
Most questions answered within 3 hours.
-
Given that a sample of aluminium oxide has a Young's modulus of
393 GPa and a...
asked 1 hour ago -
At a certain temperature, the equilibrium constant, Kc, for this
reaction is 53.3.
H2(g)+I2(g)−⇀↽−2HI(g)Kc=53.3
At this...
asked 2 hours ago -
Question1 ) The STL provides similiar classes called stack and
queue, both of which gave functions...
asked 3 hours ago -
For Questions 1-4, assume you have 5 bits available:
1. For (positive) integers: What is the...
asked 3 hours ago -
convert grams into vloume with the density of water being at
.997514 g/cm^3 at 23.1 Celsuis...
asked 5 hours ago -
Foreman company obtained a $20,000, 6% loan on May 1, 2018.
Principal and interest will be...
asked 5 hours ago -
5. Problem 11.05 (Discounted Payback)
eBook
Project L costs $60,000, its expected cash inflows are $14,000
per...
asked 6 hours ago -
1. Which of the following is true about politics and health
organizations?
A. Health organizations are...
asked 6 hours ago -
A space vehicle is coasting at a constant velocity of 18.1 m/s
in the +y direction...
asked 7 hours ago -
5) Use the following balanced equation to answer questions
(a)-(i).
3 Cu(s) + 8 HNO3(aq) →...
asked 7 hours ago -
A three-year maturity bond with a 12% annual coupon rate is
currently traded at par $1000...
asked 7 hours ago -
1.
What is the minimum volume to use in the Spec 20 cuvette in order
to...
asked 8 hours ago