Homework Answers
13. D. The equivalent units completed during the current period plus the equivalent units in ending inventory.
14. A. Entering work in process from the units in beginning inventory plus the costs for the work completed during the current accounting period.
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13. The weighted average process-costing method caleulates the equivalent units by A) considering only the work...
14. In the computation of the cost per equivalent unit, the weighted average method of process...
14. In the computation of the cost per equivalent unit, the weighted average method of process costing considers all the costs A) entering work in process from the units in beginning inventory plus the costs for the work completed during the current accounting period B) that have entered work in process from the units started or transferred in during the current accounting period C) that have entered work in process during the current accounting period from the units started or...
13. The weighted average process-costing method calculates the equivalent units by A) considering only the work...
13. The weighted average process-costing method calculates the equivalent units by A) considering only the work done during the current period its started during the current period minus the units in ending inventory C) the units started during the current period plus the units in ending inventory D) the equivalent units completed during the current period plus the equivalent units in ending inventory
Process Costing using the Weighted-Average Method 1. Compute the equivalent units of production using the weighted-average...
Process Costing using the Weighted-Average Method 1. Compute the equivalent units of production using the weighted-average method. 2. Compute the cost per equivalent unit using the weighted average method. 3. Assign costs to units using the weighted-average method 4. Prepare a cost reconciliation report. KOS ? x . HOME Process Costing using the Weighted-Average Method - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW - 5 Sign In FILE INSERT Paste IU - 23 - A Alignment Number Cells Editing Conditional...
Process Costing e Weighted average method, equivalent units The assembly division of Quality Time Pleces, Inc....
Process Costing e Weighted average method, equivalent units The assembly division of Quality Time Pleces, Inc. uses the weighted average method of process costing. Consider the following data for the month of May 2017: Direct Materials $459,888 Physical Units (Watches) 100 510 450 160 Conversion Costs $142,570 $3,237,000 $1,916,000 Beginning work in process (May 1) Started in May 2017 Completed during May 2017 Ending work in process (May 31) Total costs added during May 2017 Degree of completion: Direct materials...
AB Process Costing Weighted average method, equivalent units The assembly division of Quality Time Pieces, Inc....
AB Process Costing Weighted average method, equivalent units The assembly division of Quality Time Pieces, Inc. uses the weighted average method of process costing. Consider the following data for the month of May 2017: Physical Units (Watches) 100 510 450 160 Direct Materials $459,888 Conversion Costs $142,570 In mom $3,237,000 $1,916,000 Beginning work in process (May 1)" Started in May 2017 Completed during May 2017 Ending work in process (May 31) Total costs added during May 2017 Degree of completion:...
Pepper Company uses the weighted average method in its process costing system. The following information was...
Pepper Company uses the weighted average method in its process costing system. The following information was available for one of its processing departments: • The beginning works in process inventory consisted of 6,000 units, which were 75% complete with respect to conversion costs. • The department started 59,000 units in production during the current month. • A total of 50,000 units were completed and transferred out of that department during the current month. • The ending work in process inventory...
In a given process costing system, the equivalent units are computed using the weighted average method....
In a given process costing system, the equivalent units are computed using the weighted average method. With respect to conversion costs, the percentage of completion for the current period is necessary for the calculation of the: Beginning Work-In- Process Inventory Yes Yes Ending Work-In- Process Inventory Yes No A) B) No Yes D) No No
Hutchcroft Corporation uses the weighted average method in its process costing
Hutchcroft Corporation uses the weighted-average method in its process costing. The following data concern the company's Assembly Department for the month of June.MaterialsConversionCost per equivalent unit$27.30$30.10Equivalent units in ending work in process930375During the month, 6,800 units were completed and transferred from the Assembly Department to the next department.Required:Determine the cost of ending work in process inventory and the cost of units transferred out of the department during June using th. weighted-average method. (Round your answers to 2 decimal places.)MaterialsConversionCost of...
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...
Valley Past Inc., uses the weighted average method for process costing. Valley produces oil products that...
Valley Past Inc., uses the weighted average method for process costing. Valley produces oil products that pass through two sequential departments. All the materials are added at the beginning of the process while conversion costs are incurred evenly throughout the process. The work in process inventory for Department 1 at the beginning of March 2019 consisted of 12,000 gallons. There were beginning costs containing $135,000 of materials and $25,000 of Direct Labor and $10,000 of Manufacturing Overhead. During March 135,000...
14. In the computation of the cost per equivalent unit, the weighted average method of process costing considers all the costs A) entering work in process from the units in beginning inventory plus the costs for the work completed during the current accounting period B) that have entered work in process from the units started or transferred in during the current accounting period C) that have entered work in process during the current accounting period from the units started or...
13. The weighted average process-costing method calculates the equivalent units by A) considering only the work done during the current period its started during the current period minus the units in ending inventory C) the units started during the current period plus the units in ending inventory D) the equivalent units completed during the current period plus the equivalent units in ending inventory
Process Costing using the Weighted-Average Method 1. Compute the equivalent units of production using the weighted-average method. 2. Compute the cost per equivalent unit using the weighted average method. 3. Assign costs to units using the weighted-average method 4. Prepare a cost reconciliation report. KOS ? x . HOME Process Costing using the Weighted-Average Method - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW - 5 Sign In FILE INSERT Paste IU - 23 - A Alignment Number Cells Editing Conditional...
Process Costing e Weighted average method, equivalent units The assembly division of Quality Time Pleces, Inc. uses the weighted average method of process costing. Consider the following data for the month of May 2017: Direct Materials $459,888 Physical Units (Watches) 100 510 450 160 Conversion Costs $142,570 $3,237,000 $1,916,000 Beginning work in process (May 1) Started in May 2017 Completed during May 2017 Ending work in process (May 31) Total costs added during May 2017 Degree of completion: Direct materials...
AB Process Costing Weighted average method, equivalent units The assembly division of Quality Time Pieces, Inc. uses the weighted average method of process costing. Consider the following data for the month of May 2017: Physical Units (Watches) 100 510 450 160 Direct Materials $459,888 Conversion Costs $142,570 In mom $3,237,000 $1,916,000 Beginning work in process (May 1)" Started in May 2017 Completed during May 2017 Ending work in process (May 31) Total costs added during May 2017 Degree of completion:...
Pepper Company uses the weighted average method in its process costing system. The following information was available for one of its processing departments: • The beginning works in process inventory consisted of 6,000 units, which were 75% complete with respect to conversion costs. • The department started 59,000 units in production during the current month. • A total of 50,000 units were completed and transferred out of that department during the current month. • The ending work in process inventory...
In a given process costing system, the equivalent units are computed using the weighted average method. With respect to conversion costs, the percentage of completion for the current period is necessary for the calculation of the: Beginning Work-In- Process Inventory Yes Yes Ending Work-In- Process Inventory Yes No A) B) No Yes D) No No
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...
Valley Past Inc., uses the weighted average method for process costing. Valley produces oil products that pass through two sequential departments. All the materials are added at the beginning of the process while conversion costs are incurred evenly throughout the process. The work in process inventory for Department 1 at the beginning of March 2019 consisted of 12,000 gallons. There were beginning costs containing $135,000 of materials and $25,000 of Direct Labor and $10,000 of Manufacturing Overhead. During March 135,000...
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