Homework Answers
Equivalent units:
= Units completed + (Ending inventory X percentage completed)
= 16,500 + (4,500 X 100%)
= 21,000
Cost per equivalent unit:
Material:
= Total material cost / Equivalent units
= $41,000 / 21,000
= $1.95
Add Answer to:
21,000 16,500 Beginning inventory Units started in production Units finished during the period Units in process...
-0- 23,000 17,400 Beginning inventory Units started in production Units finished during the period Units in...
-0- 23,000 17,400 Beginning inventory Units started in production Units finished during the period Units in process at the end of the period (complete as to materials, % complete as to labor and overhead) Cost of materials used Labor and overhead costs 5,600 $53,750 $55,755 Cost per equivalent unit of labor and overhead is: Multiple Choice $2.97 $3.20. $2.68. $2.42
Solomon Company had 100 units of product in work in process inventory at the beginning of the period. It started 1,300 units during the period and transferred 1,200 units to finished goods inventory....
Solomon Company had 100 units of product in work in process inventory at the beginning of the period. It started 1,300 units during the period and transferred 1,200 units to finished goods inventory. The ending work in process inventory was estimated to be 7O percent complete. Cost data for the period follow Product Costs Beginning balance Added during periocd $31,640 56,800 $88,440 Total Required a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 20,400 Units finished during the period 16,200 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 4,200 Cost of materials used $ 37,370 Labor and overhead costs $ 39,675 Cost per equivalent unit of labor and overhead is: $2.07. $1.94. $2.30. $2.45.
Exercise 6 Our Co's packaging department started April with a beginning WIP inventory of 90 units....
Exercise 6 Our Co's packaging department started April with a beginning WIP inventory of 90 units. During April, it transferred 540 units to finished goods and its ending WIP inventory consists of 60 units. Complete the physical unit flow information below. Physical Unit Flow Units to be accounted for: Beginning work in process Units started this period Total units to be account for Units accounted for as follows: Completed and transferred out Ending goods in process Total units accounted for...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 23,000 Units finished during the period 17,500 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 5,500 Cost of materials used $ 53,750 Labor and overhead costs $ 55,755 Cost per equivalent unit of materials is: $2.95. $2.66. $2.42. $2.34.
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 23,800 Units finished during the period 17,900 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 5,900 Cost of materials used $ 59,130 Labor and overhead costs $ 61,110 Cost per equivalent unit of materials is: Multiple Choice $2.48. $2.57. $3.15. $2.82.
Campbell Company had 300 units of product in work in process inventory at the beginning of the period. It started...
Campbell Company had 300 units of product in work in process inventory at the beginning of the period. It started 1,700 units during the period and transferred 1,500 units to finished goods inventory. The ending work in process inventory was estimated to be 60 percent complete. Cost data for the period follow Product Costs $ 58,200 57,000 $115,200 Beginning balance Added during period Total Required a. Calculate the number of equivalent units of production b. Calculate the product cost per...
EX 20-11 Equivalent units of production and related costs The charges to Work in Process Assembly...
EX 20-11 Equivalent units of production and related costs The charges to Work in Process Assembly Department for a period, together with infor mation concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process- Assembly Department Bal., 5,000 units, 35% completed 10,475 To Finished Goods, 105,500 units Direct materials, 108,000 units @ $1.50 162,000 Direct labor 145,300 Factory overhead 47,525 Bal.? units, 45% completed Determine the following: a. The number...
its EX 20-11 Equivalent units of production and related costs The charges to Work in Process-Assembly...
its EX 20-11 Equivalent units of production and related costs The charges to Work in Process-Assembly Department for a period, together with infor mation concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process- Assembly Department Bal, 5,000 units, 35% completed 10,475 To Finished Goods, 105,500 units Direct materials, 108,000 units $1.50 162,000 Direct labor 145,300 Factory overhead 47,525 Bal? units, 45% completed Determine the following: a. The number of...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 20,000 Units finished during the period 16,000 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 4,000 Cost of materials used $ 35,200 Labor and overhead costs $ 37,400 Equivalent units of production for labor and overhead are: Multiple Choice 20,000. 17,000. 16,000. 19,000.
-0- 23,000 17,400 Beginning inventory Units started in production Units finished during the period Units in process at the end of the period (complete as to materials, % complete as to labor and overhead) Cost of materials used Labor and overhead costs 5,600 $53,750 $55,755 Cost per equivalent unit of labor and overhead is: Multiple Choice $2.97 $3.20. $2.68. $2.42
Solomon Company had 100 units of product in work in process inventory at the beginning of the period. It started 1,300 units during the period and transferred 1,200 units to finished goods inventory. The ending work in process inventory was estimated to be 7O percent complete. Cost data for the period follow Product Costs Beginning balance Added during periocd $31,640 56,800 $88,440 Total Required a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent...
Exercise 6 Our Co's packaging department started April with a beginning WIP inventory of 90 units. During April, it transferred 540 units to finished goods and its ending WIP inventory consists of 60 units. Complete the physical unit flow information below. Physical Unit Flow Units to be accounted for: Beginning work in process Units started this period Total units to be account for Units accounted for as follows: Completed and transferred out Ending goods in process Total units accounted for...
Campbell Company had 300 units of product in work in process inventory at the beginning of the period. It started 1,700 units during the period and transferred 1,500 units to finished goods inventory. The ending work in process inventory was estimated to be 60 percent complete. Cost data for the period follow Product Costs $ 58,200 57,000 $115,200 Beginning balance Added during period Total Required a. Calculate the number of equivalent units of production b. Calculate the product cost per...
EX 20-11 Equivalent units of production and related costs The charges to Work in Process Assembly Department for a period, together with infor mation concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process- Assembly Department Bal., 5,000 units, 35% completed 10,475 To Finished Goods, 105,500 units Direct materials, 108,000 units @ $1.50 162,000 Direct labor 145,300 Factory overhead 47,525 Bal.? units, 45% completed Determine the following: a. The number...
its EX 20-11 Equivalent units of production and related costs The charges to Work in Process-Assembly Department for a period, together with infor mation concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process- Assembly Department Bal, 5,000 units, 35% completed 10,475 To Finished Goods, 105,500 units Direct materials, 108,000 units $1.50 162,000 Direct labor 145,300 Factory overhead 47,525 Bal? units, 45% completed Determine the following: a. The number of...
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