Homework Answers
1.
| Units to be accounted for | |
| Units Beginning WIP | 0 |
| Units started | 50000 |
| Total Units | 50000 |
| Units Accounted for | |
| Units Completed and transferred | 47500 |
| Units ending WIP | 2500 |
| Total Units | 50000 |
2.
| Equivalent units | ||
| Material | Conversion Cost | |
| Units Completed and transferred | 47500 | 47500 |
| Work in Process Jan 31 | ||
| Direct Material | 2500 | |
| Conversion | 1000 | |
| Total Equivalent units | 50000 | 48500 |
3.
| Unit Costs | |
| Material | $ 10.20 |
| Conversion Cost | $ 5.00 |
| Total | $ 15.20 |
4.
| Costs accounted for | ||
| Cost of Units completed and transferred | $ 722,000 | |
| Work in Process, Jan 31 | ||
| Material | $ 25,500 | |
| Conversion | $ 5,000 | $ 30,500 |
| Total Costs | $ 752,500 |
5.
| Physical units | Material | Conversion | |
| Units to be accounted for | |||
| Work in Process Beginning | 0 | ||
| Started during the period | 50000 | ||
| Total Units | 50000 | ||
| Units accounted for | |||
| Units transferred | 47500 | 47500 | 47500 |
| Work in Process Ending | 2500 | 2500 | 1000 |
| Total Units | 50000 | ||
| Equivalent units | 50000 | 48500 | |
| Material | Conversion | Total | |
| Total Cost to account for | $ 510,000 | $ 242,500 | $ 752,500 |
| Equivalent units of Production | 50000 | 48500 | |
| Cost per equivalent unit | $ 10.20 | $ 5.00 | $ 15.20 |
| Costs to be accounted for | |||
| Work in Process Jan 1 | $ - | ||
| Costs added | $ 752,500 | ||
| Total Costs | $ 752,500 |
Costs Reconciliation Schedule
| Costs accounted for | ||
| Cost of Units completed and transferred | $ 722,000 | |
| Work in Process, Jan 31 | ||
| Material | $ 25,500 | |
| Conversion | $ 5,000 | $ 30,500 |
| Total Costs | $ 752,500 |
If you have any query, kindly comment with your query and please mark thumbs up.
Add Answer to:
I understand it is alot, I appreciate whoever helps me with
this.
Steiner Corporation manufactures water...
Steiner Corporation manufactures water skis through two processes: Molding and Packaging. In the Molding Department, fiberglass...
Steiner Corporation manufactures water skis through two processes: Molding and Packaging. In the Molding Department, fiberglass is heated and shaped into the form of a ski. In the Packaging Department, the skis are placed in cartons and sent to the finished goods warehouse. Materials are entered at the beginning of both processes. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department for January 2017 are presented below. Production Data January Beginning...
Steiner Corporation manufactures water skis through two processes: Molding and Packaging. In the Molding Department, fiberglass...
Steiner Corporation manufactures water skis through two processes: Molding and Packaging. In the Molding Department, fiberglass is heated and shaped into the form of a ski. In the Packaging Department, the skis are placed in cartons and sent to the finished goods warehouse. Materials are entered at the beginning of both processes. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department for January 2017 are presented below. Production Data January Beginning...
Amange Split AN Switch Windows Properties Reset Window Position Window Macros - Macros SharePoint 90,000 90,000...
Amange Split AN Switch Windows Properties Reset Window Position Window Macros - Macros SharePoint 90,000 90,000 Accounts Receivable Work In Process - Packaging Cost of Goods Sold Finished goods Inventory 62,000 62,000 P17-2B Steiner Corporation manufactures water skis through two processes Moing and Packaging In the Molding Department, fiberglass is heated and shaped into the form of a ski in the Packaging Department, the skis are placed in cartons and sent to the finished goods warehouse Materials are entered at...
**MUST BE ABLE TO COMPLETE ALL** #1) Wilbury Company manufactures a nutrient, Everlife, through two manufacturing...
**MUST BE ABLE TO COMPLETE
ALL**
#1) Wilbury Company
manufactures a nutrient, Everlife, through two manufacturing
processes: Blending and Packaging. All materials are entered at the
beginning of each process. On August 1, 2017, inventories consisted
of Raw Materials $5,000, Work in Process—Blending $0, Work in
Process—Packaging $3,945, and Finished Goods $7,500. The beginning
inventory for Packaging consisted of 500 units, two-fifths complete
as to conversion costs and fully complete as to materials. During
August, 9,000 units were started into...
Because most of the parts for its irrigation systems are standard, Waterways handles the majority of...
Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding, Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in kits or individually. The following information is available for the Molding department for January. Work in process beginning: Units in process 21,700 Stage of completion for...
P21-1B Rivers Corporation manufactures water skis through two processes: Molding and Packaging. In the Molding Department,...
P21-1B Rivers Corporation manufactures water skis through two processes: Molding and Packaging. In the Molding Department, fiberglass is heated and shaped into the form of a ski. In the Packaging Department, the skis are placed in cartons and sent to the finished goods warehouse. Materials are entered at the beginning of both processes. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department for January 2012 are presented below. Production Data January...
Because most of the parts for its irrigation systems are standard, Waterways handles the majority of...
Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding, Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in kits or individually. The following information is available for the Molding department for January. Work in process beginning: Units in process Stage of completion for materials...
QUESTION 3: Because most of the parts for its irrigation systems are standard, Waterways handles the...
QUESTION 3: Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding. Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in kits or individually. The following information is available for the Molding department for January 21,400 80% 30% Work in process beginning: Units in process...
Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the...
Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. Production Data...
Crane Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the...
Crane Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. June 0...
Amange Split AN Switch Windows Properties Reset Window Position Window Macros - Macros SharePoint 90,000 90,000 Accounts Receivable Work In Process - Packaging Cost of Goods Sold Finished goods Inventory 62,000 62,000 P17-2B Steiner Corporation manufactures water skis through two processes Moing and Packaging In the Molding Department, fiberglass is heated and shaped into the form of a ski in the Packaging Department, the skis are placed in cartons and sent to the finished goods warehouse Materials are entered at...
**MUST BE ABLE TO COMPLETE
ALL**
#1) Wilbury Company
manufactures a nutrient, Everlife, through two manufacturing
processes: Blending and Packaging. All materials are entered at the
beginning of each process. On August 1, 2017, inventories consisted
of Raw Materials $5,000, Work in Process—Blending $0, Work in
Process—Packaging $3,945, and Finished Goods $7,500. The beginning
inventory for Packaging consisted of 500 units, two-fifths complete
as to conversion costs and fully complete as to materials. During
August, 9,000 units were started into...
P21-1B Rivers Corporation manufactures water skis through two processes: Molding and Packaging. In the Molding Department, fiberglass is heated and shaped into the form of a ski. In the Packaging Department, the skis are placed in cartons and sent to the finished goods warehouse. Materials are entered at the beginning of both processes. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department for January 2012 are presented below. Production Data January...
Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding, Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in kits or individually. The following information is available for the Molding department for January. Work in process beginning: Units in process Stage of completion for materials...
QUESTION 3: Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding. Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in kits or individually. The following information is available for the Molding department for January 21,400 80% 30% Work in process beginning: Units in process...
Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. Production Data...
Crane Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. June 0...
Most questions answered within 3 hours.
-
A scientist randomly mutates the DNA of a bacterium. She then
sequences the bacterium’s daughter cells,...
asked 43 seconds from now -
A 3.15-g bullet embeds itself in a 1.17-kg block, which is
attached to a spring of...
asked 7 minutes ago -
A hawk is flying horizontally at 24.0 m/s in a straight line,
185 m above the...
asked 8 minutes ago -
Draw a Supply and Demand Graph for yourself. Now draw a dashed
line vertically down through...
asked 4 minutes ago -
1a. An aqueous solution of calcium hydroxide is
standardized by titration with a 0.116 M solution...
asked 10 minutes ago -
In response to concerns about nutritional contents of fast
foods, McDonald's has announced that it will...
asked 26 minutes ago -
A gun with inertia 5.5 kg fires a 13-g bullet at a stationary
target located 1.0...
asked 27 minutes ago -
A box contains twenty-five screws which are identical in size,
but 13 of which are copper...
asked 30 minutes ago -
“Is it possible that objectively
a product is high quality but subjectively low
quality?”
Please support...
asked 31 minutes ago -
OCHEM LAB
Why does hydration of 2-methyl-3-butyn-2-ol give the ketone,
3-hydroxy-3-methyl-2-butanone (4), rather than the aldehyde,...
asked 41 minutes ago -
A sample of gas at 15 ⁰C and 0.988 atm has a volume of 2.58
liters....
asked 48 minutes ago -
Enzymes are required in retroviruses because the genome
is not used directly as mRNA (T/F)
Please...
asked 46 minutes ago