Question

Murray calculates the cost for an equivalent unit of production using process costing. Production Quantity Production...

  1. 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

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Statement of Equalnt Production (Average Methord) material % Equalant production Labour over head units % units % ParticularsStatement of appropriation of cost 42000* 2.63 110377.07 Value of units transferred Value of closing Wip material Labour over

Add a comment
Know the answer?
Add Answer to:
Murray calculates the cost for an equivalent unit of production using process costing. Production Quantity Production...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

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
  • 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...

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