Homework Answers
Answer
Physical unit
| Particulars | units |
| Beginning work in process inventory | 390 |
| Started | 1040 |
| Total | 1,430 |
| Completed and transferred out | 1,230 |
| Ending work in process inventory | 200 |
| Total | 1,430 |
Equivalent unit
Equivalent unit of conversion cost
= 1,230 + (200 × 85%) = 1,400 units
Cost per equivalent unit of conversion cost
= (138,500 + 403,500) / 1,400 = $387.14
Conversion cost per equivalent unit in June is $387.14
Option D $387.14 is correct option.
The above calculations clearly indicate that other options are incorrect.
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12.
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two...
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost...
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Timekeeper Inc. uses weighted−average costing. Data for the Assembly Department for June 2017 are: Work in process, beginning inventory 380 units Direct materials (100% complete) Conversion costs (55%...
23. Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two...
23.
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Timekeeper Inc. uses weighted-average costing. 310 units Data for the Assembly Department for June 2017 are: Work in process, beginning inventory Direct materials (100% complete) Conversion costs...
40. Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two...
40.
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Timekeeper Inc. uses weighted average costing. Data for the Assembly Department for June 2017 are: Work in process, beginning inventory 350 units Direct materials (100% complete) Conversion...
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost...
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Timekeeper Inc. uses weighted - average costing. Data for the Assembly Department for June 2017 are: Work in process, beginning inventory 340 units Direct materials (100% complete) Conversion...
2. Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two...
2.
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Timekeeper Inc. uses weighted average costing. 370 units Data for the Assembly Department for June 2017 are: Work in process, beginning inventory Direct materials (100% complete) Conversion...
The Townsend Tractor Company manufactures small garden tractors on a highly automated assembly line. Its' costing...
The Townsend Tractor Company manufactures small garden tractors on a highly automated assembly line. Its' costing system uses two cost categories, direct materials and conversion costs. Each tractor must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production Townsend Tractor uses weighted-average costing.- Data for the Assembly Department for April are: Work in process, beginning inventory 40 units Direct materials (100% complete)...
The Townsend Tractor Company manufactures small garden tractors on a highly automated assembly line. The costing...
The Townsend Tractor Company manufactures small garden tractors on a highly automated assembly line. The costing system uses two cost categories, direct materials and conversion costs. Each tractor must pass through the Assembly Department and the Testing Department. Townsend Tractor uses weighted average costing. Data for the Assembly Department for April 2019 are: Direct materials equivalent units 1,600 Conversion cost equivalent units 1,550 Ending Work in Process Inventory units: 500 units (50% complete for direct materials and 75% complete for...
Iron Inc. manufactures paint in a highly automated process. Its costing system uses two cost categories:...
Iron Inc. manufactures paint in a highly automated process. Its costing system uses two cost categories: direct materials and conversion costs. Each batch of product must pass through the Mixing Department and the Testing Department. Direct materials are all added at the beginning of the production process, and conversion costs are incurred evenly throughout production. Forge uses the weighted-average method for costing. Data for the Mixing Department for September Work in process, beginning inventory: 600 units Conversion costs: 50% complete...
Shiffon Electronics manufactures music player. Its costing system uses two cost categories, direct materials and conversion...
Shiffon Electronics manufactures music player. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department, the Programming department, and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Shiffon Electronics uses weighted average costing. The following information is available for the month of March 2017 for the Assembly department Work in process, beginning inventory 320 units Conversion costs...
Shiffon Electronics manufactures music player. Its costing system uses two cost categories, direct materials and conversion...
Shiffon Electronics manufactures music player. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department, the Programming department, and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Shiffon Electronics uses weightedminus−average costing. The following information is available for the month of March 2017 for the Assembly department. Work in process, beginning inventory 370370 units Conversion costs (4040%...
23.
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Timekeeper Inc. uses weighted-average costing. 310 units Data for the Assembly Department for June 2017 are: Work in process, beginning inventory Direct materials (100% complete) Conversion costs...
40.
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Timekeeper Inc. uses weighted average costing. Data for the Assembly Department for June 2017 are: Work in process, beginning inventory 350 units Direct materials (100% complete) Conversion...
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Timekeeper Inc. uses weighted - average costing. Data for the Assembly Department for June 2017 are: Work in process, beginning inventory 340 units Direct materials (100% complete) Conversion...
2.
Timekeeper Inc. manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Timekeeper Inc. uses weighted average costing. 370 units Data for the Assembly Department for June 2017 are: Work in process, beginning inventory Direct materials (100% complete) Conversion...
The Townsend Tractor Company manufactures small garden tractors on a highly automated assembly line. Its' costing system uses two cost categories, direct materials and conversion costs. Each tractor must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production Townsend Tractor uses weighted-average costing.- Data for the Assembly Department for April are: Work in process, beginning inventory 40 units Direct materials (100% complete)...
The Townsend Tractor Company manufactures small garden tractors on a highly automated assembly line. The costing system uses two cost categories, direct materials and conversion costs. Each tractor must pass through the Assembly Department and the Testing Department. Townsend Tractor uses weighted average costing. Data for the Assembly Department for April 2019 are: Direct materials equivalent units 1,600 Conversion cost equivalent units 1,550 Ending Work in Process Inventory units: 500 units (50% complete for direct materials and 75% complete for...
Iron Inc. manufactures paint in a highly automated process. Its costing system uses two cost categories: direct materials and conversion costs. Each batch of product must pass through the Mixing Department and the Testing Department. Direct materials are all added at the beginning of the production process, and conversion costs are incurred evenly throughout production. Forge uses the weighted-average method for costing. Data for the Mixing Department for September Work in process, beginning inventory: 600 units Conversion costs: 50% complete...
Shiffon Electronics manufactures music player. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department, the Programming department, and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Shiffon Electronics uses weighted average costing. The following information is available for the month of March 2017 for the Assembly department Work in process, beginning inventory 320 units Conversion costs...
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