Homework Answers
Equivalent units:
Material:
= 3,800 + 200
= 4,000
Conversion:
= 3,800 + (200 X 30%)
= 3,860
Cost per equivalent unit:
Material:
= $16,000 / 4,000
= $4
Conversion:
= $21,230 / 3,860
= $5.5
Cost of work transferred out:
= 3,800 X ($4 + $5.5)
= $36,100
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Cranford Company completed and transferred out 3,800 units in May 2020. There were 200 units in...
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Cranford Company completed and transferred out 3,100 units in May 2020. There were 200 units in the Work-in-Process Inventory on May 31, 2020, 30% complete as to conversion costs and 100% complete as to materials. The month's charges for conversion costs and material costs were $13,430 and $10,890, respectively. There was no beginning Inventory on May 1, 2020. What is the cost of the work transferred-out during May, assuming that Cranford uses weighted-average process costing? Multiple Choice $24.320. O O...
3. Compute the direct material cost and the conversion cost assigned to units completed and transferred...
3.
Compute the direct material cost and the conversion cost assigned
to units completed and transferred out and ending work in lrocess
inventory.
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Percent Complete with Units Respect to Conversion Beginning work in process inventory …….. 3,800 90% Transferred...
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Units to account for options: Beginning work-in process, Completed and transferred out, Ending work-in process, and...
Units to account for options: Beginning work-in process,
Completed and transferred out, Ending work-in process, and
Transferred in
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Cranford Company completed and transferred out 3,100 units in May 2020. There were 200 units in the Work-in-Process Inventory on May 31, 2020, 30% complete as to conversion costs and 100% complete as to materials. The month's charges for conversion costs and material costs were $13,430 and $10,890, respectively. There was no beginning Inventory on May 1, 2020. What is the cost of the work transferred-out during May, assuming that Cranford uses weighted-average process costing? Multiple Choice $24.320. O O...
3.
Compute the direct material cost and the conversion cost assigned
to units completed and transferred out and ending work in lrocess
inventory.
Victory Company uses weighted average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the first process. During November, the first process transferred 780,000 units of product to the second process. Additional information for the first process follows. At the end of...
Work in Process-Grinding Department Completed and transferred to the Mixing Department ? Inventory, May 1 Materials Conversion 174,720 465,510 217,470 Inventory, May 31 ? The May 1 work in process inventory consisted of 91,000 pounds with $117,390 in materials cost and $57,330 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 80% complete with respect to conversion. During May, 311,000 pounds were started into production. The May 31 inventory consisted of...
you serve ware and uses process costing. At the start of May, 2,300 units were in process. During May, 11,000 units were completed and 2,000 units were in process at the end of May. The units in process at the end of May were 80% complete with respect to material and 30% complete with respect to conversion costs. Other information is as follows: Work in process, May 1: Direct material $28,800 Conversion costs 48,000 Costs incurred during May: Direct material...
Units to account for options: Beginning work-in process,
Completed and transferred out, Ending work-in process, and
Transferred in
AquaMate uses three processes to manufacture lifts for personal watercraft: forming a lift's parts from galvanized steel, assembling the lift, and testing the completed lift. (Click the icon to view additional information.) The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department. AquaMate uses weighted average process costing. Read the requirements. Requirement 1....
Pepper Company uses the weighted average method in its process costing system. The following information was available for one of its processing departments: • The beginning works in process inventory consisted of 6,000 units, which were 75% complete with respect to conversion costs. • The department started 59,000 units in production during the current month. • A total of 50,000 units were completed and transferred out of that department during the current month. • The ending work in process inventory...
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