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Problem 6-46 FIFO Method; Two Departments [LO 6-2, 6-5, 6-6] Bhatti Company produces plastic photo frames....
Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department): WIP inventory—Finishing Beginning inventory (10,700 units, 20% complete with respect to Finishing costs) Transferred-in costs (from Mixing) $ 123,670 Finishing conversion costs 8,003 Current work (99,400 units started) Mixing costs 944,300 Finishing costs 472,867 The ending inventory has 14,700 units, which are 50 percent complete with...
Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department). $ WIP inventory-Finishing Beginning inventory (11,100 units, 20% complete with respect to Finishing costs) Transferred-in costs (from Mixing) Finishing conversion costs Current work (100,200 units started) Mixing costs Finishing costs 132,150 3,022 991,980 517,803 The ending inventory has 15,100 units, which are 50 percent complete with...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April. Work in process on April 1 had 103,000 units made up of the following. Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 135,960 100 % Costs added by...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April. Work in process on April 1 had 104,000 units made up of the following: Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 138,320 100 % Costs added by...
Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department). $ WIP inventory-Pinishing Beginning Inventory (10,800 units, 201 complete with respect to Finishing costs) Transferred-in costs (from Mixing) Finishing conversion costs Current work (99,600 units started) Mixing costs Finishing costs 125,760 5,144 956,160 491. 136 The ending inventory has 14,800 units, which are 60 percent complete...
Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department): WIP inventory—Finishing Beginning inventory (11,200 units, 20% complete with respect to Finishing costs) Transferred-in costs (from Mixing) $ 134,320 Finishing conversion costs 1,096 Current work (100,400 units started) Mixing costs 1,004,000 Finishing costs 537,056 The ending inventory has 15,200 units, which are 60 percent complete with...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April. Work in process on April 1 had 75,000 units made up of the following. Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 192,000 100 % Costs added by...
FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department, direct materials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the production activity and...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April. Work in process on April 1 had 115,000 units made up of the following: Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 165,600 100 % Costs added by...
FIFO Muskoge Company FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department, direct materials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the...