Homework Answers
1. Answer:
| Work in process | $276,500 | |
| Factory overhead | 276500 |
Explanation:
Overhead allocated = Direct labor cost x 158% = $$175,000 x 158% = $$276,500
Journal Entry for overhead allocation:
| Account title and explanation | Debit | Credit |
| Work in process | $276,500 | |
| Factory overhead | 276500 | |
| [To record overhead allocated] |
.
2. Answer: $7.11
Calculation:
Under Weighted-average method,
| Costs in beginning work in process-conversion | $51,700 |
| Costs incurred in February - Conversion | $747,100 |
| Total conversion cost | $798,800 |
| ÷ Equivalent units of production-Conversion | 112,400 |
| =Cost per equivalent unit of production for conversion | $7.11 |
.
3. Answer:
| Work in process-Labelling | $349,960 | |
| Work in process-Canning | $349,960 |
Explanation:
Cost of units transferred out = 52,000 x ($2.77+$3.96) = 52,000 x $6.73 = $349,960
Journal Entry:
| Account title and explanation | Debit | Credit |
| Work in process-Labelling | $349,960 | |
| Work in process-Canning | $349,960 | |
| [To record transfer of completed units into Labelling] |
.
4. Answer: 11,640 units
Explanation:
| Units completed and transferred out | 8,400 |
| Ending work in process [5,400 x 60%] | 3,240 |
| Equivalent units of production | 11,640 |
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Review the information in the table below. What is the journal entry needed to record the...
* You received no credit for this question in the previous attempt, View Following is a...
* You received no credit for this question in the previous attempt, View Following is a partial process cost summary for Mitchell Manufacturing's Canning Department. Direct Materials 52,000 Conversion 52,000 Equivalent Units of Production Units Completed and transferred out Units in Ending Work in Process: Direct Materials (18,000 x 100%) Conversion (18,000 x 80%) Equivalent Units of Production 18,000 14,400 66,400 70,000 Cost per Equivalent Unit Costs of beginning work in process Costs incurred this period Total costs Cost per...
Samod Seve Required information The following information applies to the questions displayed below) The following partially...
Samod Seve Required information The following information applies to the questions displayed below) The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion Direct Conversion Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Materials...
answer choices: $178,200 $204,000 $171,072 $142,560 $178,000 Following is a partial process cost summary for Mitchell...
answer choices:
$178,200
$204,000
$171,072
$142,560
$178,000
Following is a partial process cost summary for Mitchell Manufacturing's Canning Department. Direct Materials 4 8,000 Conversion 48,000 Equivalent Units of Production Units Completed and transferred out Units in Ending Work in Process: Direct Materials (12,000 * 100%) Conversion (12,000 * 808) Equivalent Units of Production 12,000 9,600 57,600 60,000 Cost per Equivalent Unit Costs of beginning work in process Costs incurred this period Total costs Cost per equivalent unit $ 40,900 137,100...
#14 Following is a partial process cost summary for Mitchell Manufacturing's Canning Department. Direct Materials 50,000...
#14
Following is a partial process cost summary for Mitchell Manufacturing's Canning Department. Direct Materials 50,000 Conversion 50,000 Equivalent Units of Production Units Completed and transferred out Units in Ending Work in Process: Direct Materials (15,000 * 100%) Conversion (15,000 * 80%) Equivalent Units of Production 15,000 12,000 62,000 65,000 Cost per Equivalent Unit Costs of beginning work in process Costs incurred this period Total costs Cost per equivalent unit $ 40,500 136,000 $176,500 $ 2.71 per EUP $ 59,700...
Helps Required information Use the following information for the Exercises below. (The following information applies to...
Helps Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below.) The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion Equivalent Units of Production Units transferred out Units of ending...
Required information [The following information applies to the questions displayed below.] points The following partially completed...
Required information [The following information applies to the questions displayed below.] points The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. eBook Direct Materials Conversion Hint Equivalent Units of Production Units transferred out Units of ending work in process...
Required information [The following information applies to the questions displayed below.) The following partially completed process...
Required information [The following information applies to the questions displayed below.) The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Equivalent Units of Production Direct Materials Conversion Units transferred out 37,000 EUP 37,000 EUP Units of ending work in...
Ch 16 Quiz in Connect i Saved 3 Required information (The following information applies to the...
Ch 16 Quiz in Connect i Saved 3 Required information (The following information applies to the questions displayed below. The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. 8 00:44:13 Equivalent Units of Production Units transferred out Units of...
Required information The following information applies to the questions displayed below! The following partially completed process...
Required information The following information applies to the questions displayed below! The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. Al direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Direct Materials...
ignments Saved Required information [The following information applies to the questions displayed below.) The following partially...
ignments Saved Required information [The following information applies to the questions displayed below.) The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production...
* You received no credit for this question in the previous attempt, View Following is a partial process cost summary for Mitchell Manufacturing's Canning Department. Direct Materials 52,000 Conversion 52,000 Equivalent Units of Production Units Completed and transferred out Units in Ending Work in Process: Direct Materials (18,000 x 100%) Conversion (18,000 x 80%) Equivalent Units of Production 18,000 14,400 66,400 70,000 Cost per Equivalent Unit Costs of beginning work in process Costs incurred this period Total costs Cost per...
Samod Seve Required information The following information applies to the questions displayed below) The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion Direct Conversion Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Materials...
answer choices:
$178,200
$204,000
$171,072
$142,560
$178,000
Following is a partial process cost summary for Mitchell Manufacturing's Canning Department. Direct Materials 4 8,000 Conversion 48,000 Equivalent Units of Production Units Completed and transferred out Units in Ending Work in Process: Direct Materials (12,000 * 100%) Conversion (12,000 * 808) Equivalent Units of Production 12,000 9,600 57,600 60,000 Cost per Equivalent Unit Costs of beginning work in process Costs incurred this period Total costs Cost per equivalent unit $ 40,900 137,100...
#14
Following is a partial process cost summary for Mitchell Manufacturing's Canning Department. Direct Materials 50,000 Conversion 50,000 Equivalent Units of Production Units Completed and transferred out Units in Ending Work in Process: Direct Materials (15,000 * 100%) Conversion (15,000 * 80%) Equivalent Units of Production 15,000 12,000 62,000 65,000 Cost per Equivalent Unit Costs of beginning work in process Costs incurred this period Total costs Cost per equivalent unit $ 40,500 136,000 $176,500 $ 2.71 per EUP $ 59,700...
Helps Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below.) The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion Equivalent Units of Production Units transferred out Units of ending...
Required information [The following information applies to the questions displayed below.] points The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. eBook Direct Materials Conversion Hint Equivalent Units of Production Units transferred out Units of ending work in process...
Required information [The following information applies to the questions displayed below.) The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Equivalent Units of Production Direct Materials Conversion Units transferred out 37,000 EUP 37,000 EUP Units of ending work in...
Ch 16 Quiz in Connect i Saved 3 Required information (The following information applies to the questions displayed below. The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. 8 00:44:13 Equivalent Units of Production Units transferred out Units of...
Required information The following information applies to the questions displayed below! The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. Al direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Direct Materials...
ignments Saved Required information [The following information applies to the questions displayed below.) The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production...
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