Murray calculates the cost for an equivalent unit of production using process costing. Production Quantity Production...
- Murray calculates the cost for an equivalent unit of production using process costing.
|
Production Quantity |
Production Cost |
||
|
Beginning WIP Inventory, June 1 |
|||
|
DM |
100% complete |
$10,000 |
|
|
DL |
30% complete |
1,060 |
|
|
OH |
40% complete |
1,620 |
|
|
Beginning WIP inventory, June 1 |
10,000 units |
$12,680 |
|
|
Units started during June |
40,000 units |
||
|
Ending WIP Inventory, June 30 |
|||
|
DM |
100% complete |
||
|
DL |
50% complete |
||
|
OH |
20% complete |
||
|
Ending WIP Inventory, June 30 |
8,000 units |
||
|
Costs added during June |
|||
|
DM |
$44,000 |
||
|
DL |
$22,440 |
||
|
OH |
$43,600 |
||
|
Total costs added during June |
$110,040 |
Homework Answers
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Murray calculates the cost for an equivalent unit of production
using process costing.
Production Quantity
Production...
Murray calculates the cost for an equivalent unit of production using process costing. Production Quantity Production...
Murray calculates the cost for an equivalent unit of production using process costing. Production Quantity Production Cost Beginning WIP Inventory, June 1 DM 100% complete $10,000 DL 30% complete 1,060 OH 40% complete 1,620 Beginning WIP inventory, June 1 10,000 units $12,680 Units started during June 40,000 units Ending WIP Inventory, June 30 DM 100% complete DL 50% complete OH 20% complete Ending WIP Inventory, June 30 8,000 units Costs added during June ...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 25,000 units Direct materials: 100% complete $ 50,000 Conversion: 40% complete 20,000 Balance in work-in-process, June 1 $ 70,000 Units started during June 59,000 Units completed and transferred out 59,000 Work-in-process inventory, June 30 25,000 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials $ 188,800 Conversion costs Direct labor 188,800 Applied overhead 236,000 Total...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for...
Pablo Company calculates the cost for an equivalent unit of
production using process costing.
Data for June
Work-in-process inventory, June 1: 16,000
units
Direct materials: 100% complete
$
32,000
Conversion: 40% complete
12,800
Balance in work-in-process, June 1
$
44,800
Units started during June
39,200
Units completed and transferred out
39,200
Work-in-process inventory, June 30
16,000
Direct materials: 100% complete
Conversion: 80% complete
Costs incurred during June
Direct materials
$
90,160
Conversion costs
Direct labor
90,160
Applied overhead
121,520
Total...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 21,000 units Direct materials: 100% complete Conversion: 40% complete Balance in work-in-process, June 1 Units started during June Units completed and transferred out Work-in-process inventory, June 30 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials Conversion costs Direct labor Applied overhead Total conversion costs $ 42,000 16,800 $ 58,800 50,200 50,200 21,000 $140,560 140,560...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for...
Pablo Company calculates the cost for an equivalent unit of
production using process costing.
Data for June
Work-in-process inventory, June 1: 15,000
units
Direct materials: 100% complete
$
30,000
Conversion: 40% complete
12,000
Balance in work-in-process, June 1
$
42,000
Units started during June
37,000
Units completed and transferred out
37,000
Work-in-process inventory, June 30
15,000
Direct materials: 100% complete
Conversion: 80% complete
Costs incurred during June
Direct materials
$
81,400
Conversion costs
Direct labor
81,400
Applied overhead
111,000
Total...
Pablo Company calculates the cost for an equivalent unit of production using process costing. $ 30,000...
Pablo Company calculates the cost for an equivalent unit of production using process costing. $ 30,000 12,000 $ 42,000 37,000 37,000 15,000 Data for June Work-in-process inventory, June 1: 15,000 units Direct materials: 100% complete Conversion: 40% complete Balance in work-in-process, June 1 Units started during June Units completed and transferred out Work-in-process inventory, June 30 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials Conversion costs Direct labor Applied overhead Total conversion costs $ 81,400...
Pablo Company calculates the cost for an equivalent unit of production using process costing. $ 48,000...
Pablo Company calculates the cost for an equivalent unit of production using process costing. $ 48,000 19,200 $ 67,200 56,800 56,800 24,000 Data for June Work-in-process inventory, June 1: 24,000 units Direct materials: 100% complete Conversion: 40% complete Balance in work-in-process, June 1 Units started during June Units completed and transferred out Work-in-process inventory, June 30 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials Conversion costs Direct labor Applied overhead Total conversion costs $176,080 176,080...
Pablo Company calculates the cost for an equivalent unit of production using costing. Data For June...
Pablo Company calculates the cost for an equivalent unit of production using costing. Data For June Work in process inventory, June 1: 30,000 units Direct materials: 100% complete 60,000 Conversation: 40% complete 25,000 Balance in work process 85,000 Units started during June 70,000 Units completed and transferred out 70,000 Work in process inventory, June 30 30,000 Direct materials: 100% complete Conservation: 80% complete Costs incurred during June Direct materials 122,500 Conversation costs Direct labor 119,720 Applied overhead 179,580 Total conversation...
Shenzhen Sports Co., Ltd. manufactures golf bags in a two-department process: Assembly and Finishing. The Assembly...
Shenzhen Sports Co., Ltd. manufactures golf bags in a two-department process: Assembly and Finishing. The Assembly Department uses weighted average costing; the percentage of completion of overhead in this department is unrelated to direct labor. The Finishing Department adds hardware to the assembled bags and uses FIFO costing; overhead is applied in this department on a direct labor basis. For June, the following production data and costs were gathered: Assembly Department: Units Beginning WIP Inventory (100% complete for Direct Materials;...
11 Exercise 9 - Your Co. uses process costing to account for production costs. Direct labor...
11 Exercise 9 - Your Co. uses process costing to account for production costs. Direct labor is added evenly throughout the process and direct materials is added at the beginning of the process. During June, the assembly department transferred 315 units to finished goods. Beginning WIP inventory was 30 units with $150 direct materials and $300 direct labor. Ending WIP inventory consists of 60 units that are 60% complete with respect to labor. $1500 direct materials were incurred in June...
Pablo Company calculates the cost for an equivalent unit of
production using process costing.
Data for June
Work-in-process inventory, June 1: 16,000
units
Direct materials: 100% complete
$
32,000
Conversion: 40% complete
12,800
Balance in work-in-process, June 1
$
44,800
Units started during June
39,200
Units completed and transferred out
39,200
Work-in-process inventory, June 30
16,000
Direct materials: 100% complete
Conversion: 80% complete
Costs incurred during June
Direct materials
$
90,160
Conversion costs
Direct labor
90,160
Applied overhead
121,520
Total...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 21,000 units Direct materials: 100% complete Conversion: 40% complete Balance in work-in-process, June 1 Units started during June Units completed and transferred out Work-in-process inventory, June 30 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials Conversion costs Direct labor Applied overhead Total conversion costs $ 42,000 16,800 $ 58,800 50,200 50,200 21,000 $140,560 140,560...
Pablo Company calculates the cost for an equivalent unit of
production using process costing.
Data for June
Work-in-process inventory, June 1: 15,000
units
Direct materials: 100% complete
$
30,000
Conversion: 40% complete
12,000
Balance in work-in-process, June 1
$
42,000
Units started during June
37,000
Units completed and transferred out
37,000
Work-in-process inventory, June 30
15,000
Direct materials: 100% complete
Conversion: 80% complete
Costs incurred during June
Direct materials
$
81,400
Conversion costs
Direct labor
81,400
Applied overhead
111,000
Total...
Pablo Company calculates the cost for an equivalent unit of production using process costing. $ 30,000 12,000 $ 42,000 37,000 37,000 15,000 Data for June Work-in-process inventory, June 1: 15,000 units Direct materials: 100% complete Conversion: 40% complete Balance in work-in-process, June 1 Units started during June Units completed and transferred out Work-in-process inventory, June 30 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials Conversion costs Direct labor Applied overhead Total conversion costs $ 81,400...
Pablo Company calculates the cost for an equivalent unit of production using process costing. $ 48,000 19,200 $ 67,200 56,800 56,800 24,000 Data for June Work-in-process inventory, June 1: 24,000 units Direct materials: 100% complete Conversion: 40% complete Balance in work-in-process, June 1 Units started during June Units completed and transferred out Work-in-process inventory, June 30 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials Conversion costs Direct labor Applied overhead Total conversion costs $176,080 176,080...
11 Exercise 9 - Your Co. uses process costing to account for production costs. Direct labor is added evenly throughout the process and direct materials is added at the beginning of the process. During June, the assembly department transferred 315 units to finished goods. Beginning WIP inventory was 30 units with $150 direct materials and $300 direct labor. Ending WIP inventory consists of 60 units that are 60% complete with respect to labor. $1500 direct materials were incurred in June...
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