Homework Answers
| Cost assigned to ending WIP = ( Ending inventory units * % of completion for materials * Cost per equivalent unit for materials ) + ( Ending inventory units * % of completion for conversion cost * Cost per equivalent unit for conversion cost ) | ||
| 20412 = ( 2100 * 90% * 5.00 ) + ( 2100 * % completion for conversion cost * 8.70 ) | ||
| 20412 = 9450 + ( 18270 * % completion for conversion cost ) | ||
| 20412 - 9450 = 18270 * % completion for conversion cost | ||
| 10962 = 18270 * % completion for conversion cost | ||
| % completion for conversion = 10962 / 18270 | 60% | Option C |
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Company uses the weighted average method in its process-costing system. Operating data for the first processing...
Adams Company uses the weighted average method in its process-costing system. Operating department for the last mon...
Adams Company uses the weighted average method in its process-costing system. Operating department for the last month appear below pertaining to the physi conversion costs (CC) h appear below pertaining to the physical flow of units, direct materials (DM), and og in its process-costing system. Operating data for the first processing % of completion DM 8 0% of completion: CC 50% Beginning WIP inventory Started into production during the month Ending WIP inventory Units 1.100 9.800 2.100 90% 3 How...
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Annenbaum Corporation uses the
weighted-average method in its process costing system. This month,
the beginning inventory in the first processing department
consisted of 2,400 units. The costs and percentage completion of
these units in beginning inventory were: Cost Percent Complete
Materials costs $ 7,700 65% Conversion costs $ 8,800 45% A total of
10,500 units were started and 7,900 units were transferred to the
second processing department during the month. The following costs
were incurred in the first processing department...
Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing...
Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 1,300 Materials costs $ 12,700 Conversion costs $ 22,800 Percent complete with respect to materials 75 % Percent complete with respect to conversion 65 % Units started into production during the month 9,800 Units transferred to the next department during the month 9,000...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,400 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 7,500 50% Conversion costs $ 3,700 20% A total of 8,800 units were started and 8,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Haffner Corporation uses the weighted-average method in its process costing system. Data concerning the first processing...
Haffner Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 2,200 Materials costs $ 9,500 Conversion costs $ 10,800 Percent complete with respect to materials 85 % Percent complete with respect to conversion 55 % Units started into production during the month 8,700 Units transferred to the next department during the month 7,800...
Bachelet Inc. uses the weighted-average method in its process costing system. The following data concern the...
Bachelet Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Work in process, beginning: Units in process Stage of completion with respect to materials Stage of completion with respect to conversion Costs in the beginning inventory: 400 90% 40% Materials cost Conversion Cost $756 $4,448 Units started into production during the month Units completed and transferred out 13,000 13,300 Costs added to production...
Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing...
Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 1,300 Materials costs $ 7,700 Conversion costs $ 3,000 Percent complete with respect to materials 55 % Percent complete with respect to conversion 25 % Units started into production during...
1. Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning...
1. Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 5,700 65% Conversion costs $ 6,800 45% A total of 6,500 units were started and 5,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing...
Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing...
Inacio Corporation uses the
weighted-average method in its process costing system. Data
concerning the first processing department for the most recent
month are listed below: Beginning work in process inventory: Units
in beginning work in process inventory 2,500 Materials costs $
14,600 Conversion costs $ 6,700 Percent complete with respect to
materials 75 % Percent complete with respect to conversion 20 %
Units started into production during the month 11,200 Units
transferred to the next department during the month 10,100...
Carpenter Corporation uses the weighted average method in its process costing system. This month, the beginning...
Carpenter Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,100 units. The costs and percentage completion of these units in beginning inventory were: Percent Complete 60% Cost $ 6,700 $10,000 Materials costs Conversion costs 55% A total of 10,050 units were started and 8,600 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Adams Company uses the weighted average method in its process-costing system. Operating department for the last month appear below pertaining to the physi conversion costs (CC) h appear below pertaining to the physical flow of units, direct materials (DM), and og in its process-costing system. Operating data for the first processing % of completion DM 8 0% of completion: CC 50% Beginning WIP inventory Started into production during the month Ending WIP inventory Units 1.100 9.800 2.100 90% 3 How...
Annenbaum Corporation uses the
weighted-average method in its process costing system. This month,
the beginning inventory in the first processing department
consisted of 2,400 units. The costs and percentage completion of
these units in beginning inventory were: Cost Percent Complete
Materials costs $ 7,700 65% Conversion costs $ 8,800 45% A total of
10,500 units were started and 7,900 units were transferred to the
second processing department during the month. The following costs
were incurred in the first processing department...
Bachelet Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Work in process, beginning: Units in process Stage of completion with respect to materials Stage of completion with respect to conversion Costs in the beginning inventory: 400 90% 40% Materials cost Conversion Cost $756 $4,448 Units started into production during the month Units completed and transferred out 13,000 13,300 Costs added to production...
1. Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 5,700 65% Conversion costs $ 6,800 45% A total of 6,500 units were started and 5,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing...
Inacio Corporation uses the
weighted-average method in its process costing system. Data
concerning the first processing department for the most recent
month are listed below: Beginning work in process inventory: Units
in beginning work in process inventory 2,500 Materials costs $
14,600 Conversion costs $ 6,700 Percent complete with respect to
materials 75 % Percent complete with respect to conversion 20 %
Units started into production during the month 11,200 Units
transferred to the next department during the month 10,100...
Carpenter Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,100 units. The costs and percentage completion of these units in beginning inventory were: Percent Complete 60% Cost $ 6,700 $10,000 Materials costs Conversion costs 55% A total of 10,050 units were started and 8,600 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
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