Exam
Anna Corporation uses the FiFo method in its process costing system. Data concerning the second processing department for the most recent month are listed below:
v Beginning work in process inventory
Units in beginning work in process inventory 1,600 units
Costs transferred in from the first department $288,000
Materials costs $192,000
Conversion costs $76,800
Percentage complete with respect to materials 100%
Percentage complete with respect to conversion 60%
v Units started into production during the month 8,400 units
v Costs added to production during the month
Costs transferred in from the first department $1,814,400
Materials costs $1,209,600
Conversion costs $829,440
v Ending work in process inventory
Units in ending work in process inventory 2,000 units
Percentage complete with respect to materials 100%
Percentage complete with respect to conversion 80%
Required
For this month, compute the following for the first processing department:
a) The numbers of units completed during the month
b) The numbers of units started and completed during the month
c) Equivalent units of production by cost component
d) Cost per equivalent unit by cost component
e) Cost of units transferred to the second department
f) Cost of ending work in process inventory
g) Prepare a cost reconciliation report for the second department
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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...
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 2,300 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 7,400 50% Conversion costs $ 3,600 20% A total of 8,700 units were started and 8,000 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
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...
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...
Show all supporting computations! 1. Chase Inc, uses the weighted average method in its process costing...
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B. Data concern the operations of the company's first processing department for a recent month. Work...
B. Data concern the operations of the company's first processing department for a recent month. Work in process, beginning: Units in process. Percent complete with respect to materials. Percent complete with respect to conversion Costs in the beginning inventory: Materials cost... Conversion cost. 300 60% 30% $342 $2,394 Units started into production during the month. Units completed and transferred out... 21,000 20,700 Costs added to production during the month: Materials cost Conversion cost.. $44,136 $546,750 Work in process, ending: Units...
1. The Richmond Corporation uses the weighted-average method in its process costing system. The company has...
1. The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 21,200 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $3.55 for materials and $5.05 for labor and overhead, the total...
Domingo Corporation uses the weighted average method in its process costing system. This month, the beginning...
Domingo Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2.200 units. The costs and percentage completion of these units in beginning inventory were Percent Cost A Materials costs Complete Conversion costs $7,380 $ 3,500 l of 8.500 units were started and 7.900 units were transferred to the second processing department during the more The following costs were incurred in the month Cost Materials costs $160,...
Question #8 Majestic Company uses the weighted average method in its process costing system. The company...
Question #8 Majestic Company uses the weighted average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on May 31 consisted of 72,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for May was $11.00 for materials and $17.00 for labor and overhead, the...
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...
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...
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...
Show all supporting computations! 1. Chase Inc, uses the weighted average method in its process costing system. im beginning inventory in the first processing department consisted of 800 units. The costs a percentage completion of these units in beginning inventory were: Materials costs.................... Conversion costs ............ Cost $6,000 $9.900 Percent Complete 50% 3,000 30% 2,970 A total of 9,200 units were started and 8,200 units were transferred to the second processing department during the month. The following costs were incurred...
In June, one of the processing departments et Furbush Corporation had ending work in process inventory of $13,000. During the month, $414,000 of costs were added to production and the cost of units transferred out from the department was $436,000. In the department's cost reconciliation report for January, the cost of beginning work in process inventory for the department would be: Multiple Choice $35,000 $423,000 $9,000 $401.000 Paceheco Corporation uses the weighted-average method in its process costing system. The Molding...
B. Data concern the operations of the company's first processing department for a recent month. Work in process, beginning: Units in process. Percent complete with respect to materials. Percent complete with respect to conversion Costs in the beginning inventory: Materials cost... Conversion cost. 300 60% 30% $342 $2,394 Units started into production during the month. Units completed and transferred out... 21,000 20,700 Costs added to production during the month: Materials cost Conversion cost.. $44,136 $546,750 Work in process, ending: Units...
Domingo Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2.200 units. The costs and percentage completion of these units in beginning inventory were Percent Cost A Materials costs Complete Conversion costs $7,380 $ 3,500 l of 8.500 units were started and 7.900 units were transferred to the second processing department during the more The following costs were incurred in the month Cost Materials costs $160,...
Question #8 Majestic Company uses the weighted average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on May 31 consisted of 72,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for May was $11.00 for materials and $17.00 for labor and overhead, the...
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