Question

In June, one of the processing departments et Furbush Corporation had ending work in process inventory of $13,000. During the
Paceheco Corporation uses the weighted-average method in its process costing system. The Molding Department is the second dep
completed and transerte to the next department during January Ending work in process inventory 7,500 400 The accounting recor
In August, one of the processing departments et Tsuzuki Corporation had beginning work in process inventory of $26,000 and en
Saado Corporation uses the weighted-average method in its process costing system. The Fitting Department is the second depart
ZUS beginning work in process inventory Transferred in from the prior department during March Ending work in process inventor
Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing depar
unats an engang WOEK in proces inventory Percent complete with respect to materials Percent complete with respect to conversi
Arona Corporation manufactures canoes in two departments, Fabrication and Waterproofing. In the Fabrication Department, fiber
Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in
materials CONC Conversion costs YI, UUU $171,200 The ending Inventory was 85% complete with respect to materials and 70% comp
Raider Corporation uses the weighted average method in its process costing system. The Molding Department is the second depar
63,8V 9,900 compieces and transcer to the next gepartment uuring January Ending work in process inventory B08 The Molding Dep
0 0
Add a comment Improve this question Transcribed image text
Answer #1

1. Calculation of beginning inventory
As given in the question: ending work in progress inventory is $13000
: units cost transferred to next process is $ 436000
: cost add to production is $414000
Hence, opening work in progress inventory would be:
ending work in progress inventory + units cost transferred to next process - cost add to the production
$13000+ $436000-$414000= $35000
OPTION A $35000 WOULD BE THE CORRECT ANSWER

2.Calculation of Cost per unit of conversion cost
opning WIP : 5300 units
units introduced : 59200 units
total units : 5300+59200 = 64500 units

Units transferred to next process and completed 100% = 57000 * 100% = 57000 units
closing WIP inventory and completed only 40% = 7500* 40 % = 3000 units
total units allocated to conversion cost = 57000+3000 = 60000 units
conversion cost current month  = $559454
conversion cost previous month = $34758
total conversion cost = $594212
cost per unit for conversion = total cost of conversion / total units
= $594212 / 60000
= $9.904/units
Hence, option B, $9.904/ unit would be correct answer.

3. OPTION B, $329000 WOULD BE THE CORRECT ANSWER

4.Calculation of conversion cost for the units transferred to next process

beginning WIP inventory : 6700 units
units transfered from perior department : 62000 units
total units : 6700 + 62000 = 68700 units
closing WIP units : 10200
units transferred to next process = total units - closing WIP units
= 68700 - 10200
= 58500 units
As conversion cost per unit given in the question

coversion cost allocated to units transferred to nexr process would be 58500* $6.14 = $359190
Hence, OPTION A, $359190 would be the correct answer

5.Calulation of cost per unit for materials
oping WIP :2500 units
introduced : 11200 units
total units : 2500+11200 = 13700 units
units transferred to next process and completed 100% for materials = 10100*100% = 10100 units
closing WIP inventory and completed 90% for materials = 3600*90% = 3240 units
Total units allocated to materials : 10100 + 3240 = 13340 units
calculation of cost of material :
material cost during the month : $173700
material cost privious month : $14600
total cost for material = $173700+$14600 = $188300
calculation of cost per units for material:
cost per units = total cost of material / total units allocated to materials
= $188300 / 13340 units
= $14.12 / unit
Hence, OPTION D, $14.12 / unit would be the correct answer

6.OPTION A, 97 UNITS would be the correct answer

7.OPTION A, 4300 UNITS would be the correct answer

8. OPTION C, $26848.8 would be correct anser

Add a comment
Know the answer?
Add Answer to:
In June, one of the processing departments et Furbush Corporation had ending work in process inventory...
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
  • Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...

    Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,300 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 7,400 50% Conversion costs $ 3,600 20% A total of 8,700 units were started and 8,000 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...

  • In June, one of the processing departments at Furbush Corporation had ending work in process inventory...

    In June, one of the processing departments at Furbush Corporation had ending work in process inventory of $12,000. During the month, $404,000 of costs were added to production and the cost of units transferred out from the department was $426,000. In the department's cost reconciliation report for January, the cost of beginning work in process inventory for the department would be: A) $10,000 B) $392,000 C) $414,000 D) $34,000

  • please explain In June, one of the processing departments at Purbuth Corporation had ending work in...

    please explain In June, one of the processing departments at Purbuth Corporation had ending work in process inventory of $13,400 During the month $418,000 of costs were added to production and the cost of units transferred out from the department was $440,000 In the department's cost reconciliation report for January, the cost of beginning work in process inventory for the department would be Multiple Choice 335.400 0 o 1426600 $8.600 $404.600

  • 1. The Richmond Corporation uses the weighted-average method in its process costing system. The company has...

    1. The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 21,200 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $3.55 for materials and $5.05 for labor and overhead, the total...

  • In April, one of the processing departments at Terada Corporation had beginning work in process inventory...

    In April, one of the processing departments at Terada Corporation had beginning work in process inventory of $22,000 and ending work in process inventory of $28,000. During the month, $245,000 of costs were added to production and the cost of units transferred out from the department was $239,000. In the department's cost reconciliation report for April, the total cost to be accounted for under the weighted-average method would be: Multiple Choice $267,000 $534,000 $512,000 $50,000

  • In July, one of the processing departments at Okamura Corporation had beginning work in process inventory...

    In July, one of the processing departments at Okamura Corporation had beginning work in process inventory of $25,000 and ending work in process inventory of $30,000. During the month, the cost of units transferred out from the department was $160,000. In the department's cost reconciliation report for July, the total cost to be accounted for under the weighted-average method would be: Multiple Choice $55,000 $131,000 $144,000 $190,000

  • Raider Corporation uses the weighted average method in its process costing system. The Molding Department is...

    Raider Corporation uses the weighted average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January. Percent Complete with Respect to Conversion 10% Beginning work in process inventory Transferred in from the prior department during January Completed and transferred to the next department during January Ending work in process inventory Units 9,300 80,000 79,800 9,500 80% The Molding Department's cost per equivalent unit for...

  • K Corporation uses the weighted-average method in its process costing system. Data concerning the first processing...

    K Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: 1,900 $ 8,300 $ 3,600 Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units completed and transferred to the next department during the month Materials costs added during...

  • rtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing...

    rtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 1,000 Materials costs $ 7,400 Conversion costs $ 2,700 Percent complete with respect to materials 55 % Percent complete with respect to conversion 25 % Units started into production during the month 6,900 Units transferred to the next department during the month 6,100...

  • Corporation uses the weighted average method in its process costing system. The Molding Department is the...

    Corporation uses the weighted average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January Percent Complete Respect to Conversion Beginning work in process inventory Transferred in from the prior department during January Completed and transferred to the next department during January Ending work in process inventory Units 8,000 66,800 8,200 BOX The Molding Department's cost per equivalent unit for conversion cost for cary...

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