Homework Answers
| MOLDING | ||||||
| Physical flow of units | ||||||
| Work-in-process-Beginning | 3700 | |||||
| Units started this period | 23500 | |||||
| Units to account for | 27200 | |||||
| Total transferred out | (Note:1) | 20200 | ||||
| Work-in-process-Ending | 7000 | |||||
| Total accounted for | 27200 | |||||
| Note:1 | ||||||
| Total transferred out=Units to account for-Work in process-ending=27200-7000=20200 units | ||||||
| Units | ||||||
| Total transferred out | a | (20200*100%) | 20200 | |||
| Work-in-process-Ending | b | (7000*100%) | 7000 | |||
| Equivalent units material | c=a+b | 27200 | ||||
| Total transferred out | d | (20200*100%) | 20200 | |||
| Work-in-process-Ending | e | (7000*25%) | 1750 | |||
| Equivalent units conversion | f=d+e | 21950 | ||||
| $ | ||||||
| Goods in process as of January 1 | a | 5994 | ||||
| Cost incurred during the year | b | 38070 | ||||
| Total cost of material | c=a+b | 44064 | ||||
| Goods in process as of January 1 | d | (8695+4347.50) | 13042.5 | |||
| Cost incurred during the year | e | (Note:2) | 92317.5 | |||
| Total cost of conversion | f=d+e | 105360 | ||||
| Total cost to account for | g=c+f | 149424 | ||||
| Note:2 | ||||||
| Cost incurred during the year-Conversion cost | ||||||
| $ | ||||||
| Labor | 61545 | |||||
| Overhead | (labor*50%) | (61545*50%) | 30772.5 | |||
| Total | 92317.5 | |||||
| Total cost of material | a | 44064 | ||||
| Equivalent units material | b | 27200 | ||||
| Cost per equivalent unit of material | c=a/b | 1.62 | ||||
| Total cost of conversion | d | 105360 | ||||
| Equivalent units conversion | e | 21950 | ||||
| Cost per equivalent unit of conversion | f=d/e | 4.8 | ||||
| $ | ||||||
| Equivalent units material | a | 27200 | ||||
| Cost per equivalent unit of material | b | 1.62 | ||||
| Cost of ending inventory,material and conversion | a*b | 44064 | ||||
| $ | ||||||
| Equivalent units conversion | a | 21950 | ||||
| Cost per equivalent unit of conversion | b | 4.8 | ||||
| Cost of the units transferred,material and conversion | a*b | 105360 | ||||
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to 4 PART 4 Process Costing -...
Can you please help with the following? PART 4 Process Costing - Weighted Average General Information...
Can you please help with the following? PART 4 Process Costing - Weighted Average General Information The I See The Light Company has a related company that produces the figurines. They use process costing in the molding department. The factory overhead is applied at a rate of 50% of direct labor dollars. The material is added at the beginning of the process. The labor and overhead costs are assumed to be added uniformly throughout. Month of January Selected information for...
no need to answer the last part of question (To record completion of jobs 357 &...
no need to answer the last part of question
(To record completion of jobs 357 & K52) e Textbook and Media List of Accounts Assuming that Manufacturing Overhead has a debit balance of $3,600, determine whether overhead has been under/over applied and make the adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit QUESTION 3: Because most of the parts for its irrigation systems are standard,...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to...
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...
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...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to...
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...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to...
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...
QUESTION 3: Because most of the parts for its irrigation systems are standard, Waterways handles the...
QUESTION 3: Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding. Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in kits or individually. The following information is available for the Molding department for January 21,400 80% 30% Work in process beginning: Units in process...
Because most of the parts for its irrigation systems are standard, Waterways handles the majority of...
Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding, Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in kits or individually. The following information is available for the Molding department for January. Work in process beginning: Units in process 21,700 Stage of completion for...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to...
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 120,000 units made up of the
following.
Amount
Degree of Completion
Prior department costs transferred in from the Molding
Department
$
178,800
100
%
Costs added by...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to...
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...
no need to answer the last part of question
(To record completion of jobs 357 & K52) e Textbook and Media List of Accounts Assuming that Manufacturing Overhead has a debit balance of $3,600, determine whether overhead has been under/over applied and make the adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit QUESTION 3: Because most of the parts for its irrigation systems are standard,...
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...
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...
QUESTION 3: Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding. Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in kits or individually. The following information is available for the Molding department for January 21,400 80% 30% Work in process beginning: Units in process...
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 120,000 units made up of the
following.
Amount
Degree of Completion
Prior department costs transferred in from the Molding
Department
$
178,800
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 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...
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