ZuoTi.Pro
Question

Assume the following information: Percent Complete Materials Conversion 45% 30% Milling Department Beginning work in process
Assume the following information Units 300 6,000 Percent Complete Materials Conversion 303 Milling Department Beginning work
Assume the following information: Percent Complete Materials Conversion 40% 30% Milling Department Beginning work in process
Assume the following information: Milling Department Cost of beginning work in process inventory Costs added during the perio
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Answer1- 6,100 units

Explanation-

Given- Units transferred out= 5,800

Units in ending inventory =600

Percentage of completion for conversion  = 50%

To find- Equivalent units of production for conversion using weighted average method.

Solution- Formula-

Equivalent unit of production for conversion = Units transferred out + ( Units in ending inventory  * percentage of completion)

= 5,800 + (600* 50 / 100)

= 5,800 + 300

= 6,100(Answer)

Answer 2- 5,800 units

Explanation-

Given- Equivalent units of production for materials = 6,100

Units in ending inventory =500

Percentage of completion for materials = 60%

To find- Transferred our units , using WAM

Solution- Formula-

Equivalent units of production for materials = transferred out units + ( units in ending inventory * percentage of completion)

6,100 = Transferred out units + (500 * 60/100)

6,100 = Transferred out units + ( 300)

Transferred out units = 6,100 - 300

= 5, 800(Answer)

Answer 3- 6,220 units

Explanation-

Given- Units transferred out= 5,800

Units in ending inventory =600

Percentage of completion for conversion  = 70%

To Find- Equivalent units of production for materials using WAM.

Solution- Formula-

Equivalent units of production for materials = transferred out units + ( units in ending inventory * percentage of completion)

Equivalent units of production for materials = 5,800 + (600* 70 /100)

= 5,800 + 420

= 6,220 units (Answer)

Answer 4 - $ 80

​​​​​​​Explanation-

​​​​​​​Given- Equivalent units of production for conversion = 5,000

Cost of beginning WIP Inventory = $15,000

Cost added during  the period = $ 385,000

Total Cost = $ 400,000

To Find- Cost per Equivalent unit of production for conversion using WAM.

Solution- Formula-

Total Cost = Cost of beginning WIP Inventory + Cost added to the period

=15,000 + 385,000

= $ 400,000

Cost per equivalent unit of production for conversion = Total Cost / Equivalent units of production

= 400,000 / 5,000

= $ 80(Answer)

2 0
Add a comment
Know the answer?
Add Answer to:
Assume the following information: Percent Complete Materials Conversion 45% 30% Milling Department Beginning work in process...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Assume the following information: Percent Complete Milling Department Units Materials Conversion Beginning work in process inventory...

    Assume the following information: Percent Complete Milling Department Units Materials Conversion Beginning work in process inventory 200 40 % 30 % Units started into production during March 6,200 Units completed during the period and transferred to the next department 5,800 100 % 100 % Ending work in process inventory 600 70 % 60 % Milling Department Materials Conversion Cost of beginning work in process inventory $ 10,000 $ 15,000 Costs added during the period 299,000 385,000 Total cost $ 309,000...

  • Assume the following information: Percent Complete Milling Department Units Materials Conversion Beginning work in process inventory...

    Assume the following information: Percent Complete Milling Department Units Materials Conversion Beginning work in process inventory 200 40 % 30 % Units started into production during March 6,200 Units completed during the period and transferred to the next department 5,800 100 % 100 % Ending work in process inventory 600 70 % 60 % Milling Department Materials Conversion Cost of beginning work in process inventory $ 10,000 $ 15,000 Costs added during the period 292,000 385,000 Total cost $ 302,000...

  • Assume the following information:    Percent Complete Milling DepartmentUnits Materials Conversion Beginning work in process inventory 200   40%  30%...

    Assume the following information:    Percent Complete Milling DepartmentUnits Materials Conversion Beginning work in process inventory 200   40%  30% Units started into production during March 6,200           Units completed during the period and transferred to the next department 5,800   100%  100% Ending work in process inventory 600   45%  50% Milling DepartmentMaterials Conversion Cost of beginning work in process inventory$10,000  $15,000   Costs added during the period 290,000   385,000   Total cost$300,000  $400,000   Using the FIFO method, the total cost of the units completed and transferred out that would be reported on the cost...

  • Assume the following information Milline Deporte Cost of beginning work in process mentary Costs added during...

    Assume the following information Milline Deporte Cost of beginning work in process mentary Costs added during the period Total cost Materials Conversion Total $10,000 $ 15,000 $25,000 . 676,00 $191,00 5400,000 $701,600 Assume the equivalent units of production forms and conversion are 5.200 and 5.000, respectively, the weighted average method 400 units were completed and transferred to the next department, then what is the total cost of the ending work in process inventory in the Ming Departe о O 536200...

  • Assume the following information: Milling Department Materials Conversion Total Cost of beginning work in process inventory...

    Assume the following information: Milling Department Materials Conversion Total Cost of beginning work in process inventory $ 10,000 $ 15,000 $ 25,000 Costs added during the period 291,600 385,000 676,600 Total cost $ 301,600 $ 400,000 $ 701,600 Assume the equivalent units of production for materials and conversion are 5,200 units and 5,000 units, respectively, using the weighted-average method. If 4,780 units were completed and transferred to the next department, then what is the total cost assigned to the units...

  • Assume the following information:    Percent Complete Milling DepartmentUnits Materials  Conversion Beginning work in process inventory 200   40%   30% Units...

    Assume the following information:    Percent Complete Milling DepartmentUnits Materials  Conversion Beginning work in process inventory 200   40%   30% Units started into production during March 6,200            Units completed during the period and transferred to the next department 5,800   100%   100% Ending work in process inventory 600   70%   60% Milling DepartmentMaterials Conversion Cost of beginning work in process inventory$10,000  $15,000   Costs added during the period 304,000   385,000   Total cost$314,000  $400,000   Using the FIFO method, the total cost of the ending work in process inventory with respect to materials is closest to:

  • Assume the following information:    Percent Complete Milling DepartmentUnits Materials  Conversion Beginning work in process inventory 200   40%   30% Units...

    Assume the following information:    Percent Complete Milling DepartmentUnits Materials  Conversion Beginning work in process inventory 200   40%   30% Units started into production during March 6,200            Units completed during the period and transferred to the next department 5,800   100%   100% Ending work in process inventory 600   70%   60% Milling DepartmentMaterials Conversion Cost of beginning work in process inventory$10,000  $15,000   Costs added during the period 304,000   385,000   Total cost$314,000  $400,000   Using the FIFO method, the total cost of the ending work in process inventory with respect to materials is closest to:

  • Assume the following information appears in the Milling Department's cost reconciliation report: Milling Department Costs added...

    Assume the following information appears in the Milling Department's cost reconciliation report: Milling Department Costs added to production during the period Cost of beginning work in process inventory Cost of the units transferred out of the Milling Department Materials $650,000 $ 15,000 $645,000 What is the cost of the ending work in process inventory of the Milling Department? Multiple Choice $20,000 $35,000 $5,000 O $25,000 If a properly completed cost reconciliation report for a particular department says that the total...

  • Assume the following information: 7 Units 200 6,200 Percent Complete Materials Conversion 408 308 8 04-11:38...

    Assume the following information: 7 Units 200 6,200 Percent Complete Materials Conversion 408 308 8 04-11:38 Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory 5,800 600 1008 70% 1008 608 Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials Conversion $ 10,000 $ 15,000 292,000 385,000 $302,000 $400,000 Using the weighted-average...

  • Surved Assume the following information: Milling Department Cost of beginning work in process inventory Costs added...

    Surved Assume the following information: Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials Conversion Total $ 10,000 $ 15,000 $ 25,000 291,600 385,000 676,600 $301,600 $400,000 $701,600 Assume the equivalent units of production for materials and conversion are 5,200 units and 5,000 units, respectively method. If 4,770 units were completed and transferred to the next department, then what is the total cost assigned to transferred out of the Milling Department? Multiple...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT