The production process for Rhino Car Wax begins by mixing all of the required materials. Rhino...
The production process for Rhino Car Wax begins by mixing all of the required materials. Rhino incurs conversion costs uniformly throughout the process of converting the materials to car wax.
Rhino began March with 1,000 cases of car wax in beginning inventory, 50% done for conversion. During March, Rhino started enough material for 74,500 cases of finished wax. By the end of March, Rhino had completed work on 63,250 cases, and assessed ending WIP inventory to be 60% complete with respect to conversion costs.
Finally, Rhino spent $1,697,500 on conversion costs during March.
Suppose that the standard cost for each equivalent unit of conversion costs is $24.32.
What is the variance relating to conversion costs for March? Enter favorable variances as a positive number and unfavorable variances as a negative number.
Homework Answers
| Conversion | ||
| Completed Cases | 63,250 | |
| Ending Work in process ( 1,000 + 74,500 - 63,250 ) x 60% | 7,350 | |
| Equivalent units | 70,600 | |
| Standard cost for Equivalent units | 1,716,992 | =70600*24.32 |
| Less: Actual Cost for Equivalent units of Conversion | 1,697,500 | |
| Variance relating to conversion costs for March | $ 19,492 | Favorable |
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The production process for Rhino Car Wax begins by mixing all of
the required materials. Rhino...
The production process for Rhino Car Wax begins by mixing all of the required materials. Rhino...
The production process for Rhino Car Wax begins by mixing all of the required materials. Rhino incurs conversion costs uniformly throughout the process of converting the materials to car wax. Rhino began March with 1,000 cases of car wax in beginning inventory, 50% done for conversion. During March, Rhino started enough material for 74,500 cases of finished wax. By the end of March, Rhino had completed work on 63,250 cases, and assessed ending WIP inventory to be 60% complete with...
The production process for Mahaska Chemicals begins by mixing all of the required materials. Mahaska incurs...
The production process for Mahaska Chemicals begins by mixing all of the required materials. Mahaska incurs conversion costs uniformly throughout the process. Mahaska began December with zero beginning inventory. It started 645,000 pounds of material into production in early December and had 95,000 pounds still in process on December 31. Mahaska estimates the ending work-in-process (EWIP) inventory to be 20% complete with respect to conversion costs. Finally, Mahaska spent $1,935,000 on materials and $1,024,200 on conversion costs during December. Determine...
Vultan Wax manufactures crayons in a three-step process: mixing, molding, and packaging. (Click the icon to...
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The Mixing Department combines the direct materials of paraffin wax and pigments. The heated mixture is...
The Mixing Department combines the direct materials of paraffin
wax and pigments. The heated mixture is pumped to the Molding
Department, where it is poured into molds. After the molds cool,
the crayons are removed from the molds and are transferred to the
Packaging Department, where paper wrappers are added and the
crayons are boxed.In the Mixing Department, the direct materials
are added at the beginning of the process and the conversion costs
are incurred evenly throughout the process. Work...
Please help! Thank You! The Mixing Department combines the direct materials of paraffin wax and pigments....
Please help! Thank You!
The Mixing Department combines the direct materials of paraffin wax and pigments. The heated mixture is pumped to the Molding Department, where it is poured into molds. After the molds cool, the crayons are removed from the molds and are transferred to the Packaging Department, where paper wrappers are added and the crayons are boxed. In the Mixing Department, the direct materials are added at the beginning of the process and the conversion costs are incurred...
Direct Materials Conversion Costs Total Costs Cost per Unit COSTS Costs to account for: Beginning work-in-process...
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of September.
2. Compute the Casing and Curing Department's cost per
equivalent unit for mixing, materials, and conversion for the month
of September.
3. Compute the Casing and Curing Department's cost of ending
work in process inventory for mixing, materials, conversion, and in
total for September.
4. Compute the Casing and Curing Department's cost of units
transferred out to the...
Required: 1. Determine the Casing and Curing Department's equivalent units of production for mixing, materials, and...
Required:
1. Determine the Casing and Curing Department's equivalent units
of production for mixing, materials, and conversion for the month
of September.
2. Compute the Casing and Curing Department's cost per
equivalent unit for mixing, materials, and conversion for the month
of September.
3. Compute the Casing and Curing Department's cost of ending
work in process inventory for mixing, materials, conversion, and in
total for September.
4. Compute the Casing and Curing Department's cost of units
transferred out to the...
On March 1, the Mixing Department had 100 rolls of paper in process. During March, the...
On March 1, the Mixing Department had 100 rolls of paper in
process. During March, the Mixing Department completed the mixing
process for those 100 rolls and also started and completed the
mixing process for an additional 4,800 rolls of paper. The
department started but did not finish the mixing process for an
additional 500 rolls, which were 20% complete with respect to both
direct materials and conversion work at the end of March. Direct
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A department adds all raw materials to a process at the beginning of the process and...
A department adds all raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 91200 units were started into production in January; and there were 19600 units that were 30% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for conversion costs for the...
Vultan Wax manufactures crayons in a three-step process: mixing, molding, and packaging. (Click the icon to view the additional information.) At March 31, before recording the transfer of costs from the Mixing Department to the Molding Department, the Vultan Wax general ledger included the following account: (Click the icon to view the account.) Read the requirements. Requirement 1. Prepare a production cost report for the Mixing Department for March. Round equivalent unit of production costs to four decimal places. Round...
The Mixing Department combines the direct materials of paraffin
wax and pigments. The heated mixture is pumped to the Molding
Department, where it is poured into molds. After the molds cool,
the crayons are removed from the molds and are transferred to the
Packaging Department, where paper wrappers are added and the
crayons are boxed.In the Mixing Department, the direct materials
are added at the beginning of the process and the conversion costs
are incurred evenly throughout the process. Work...
Please help! Thank You!
The Mixing Department combines the direct materials of paraffin wax and pigments. The heated mixture is pumped to the Molding Department, where it is poured into molds. After the molds cool, the crayons are removed from the molds and are transferred to the Packaging Department, where paper wrappers are added and the crayons are boxed. In the Mixing Department, the direct materials are added at the beginning of the process and the conversion costs are incurred...
Direct Materials Conversion Costs Total Costs Cost per Unit COSTS Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Costs added during the period Divided by: EUP this period Cost per equivalent unit Costs accounted for: Beginning work-in-process Costs to complete beginning WIP Total costs for beginning WIP Started and completed Transferred to Mixing Department Ending work-in-process Total costs accounted for Requirement 2. Joumalize all transactions affecting the Mixing Department during March, including...
Required:
1. Determine the Casing and Curing Department's equivalent units
of production for mixing, materials, and conversion for the month
of September.
2. Compute the Casing and Curing Department's cost per
equivalent unit for mixing, materials, and conversion for the month
of September.
3. Compute the Casing and Curing Department's cost of ending
work in process inventory for mixing, materials, conversion, and in
total for September.
4. Compute the Casing and Curing Department's cost of units
transferred out to the...
Required:
1. Determine the Casing and Curing Department's equivalent units
of production for mixing, materials, and conversion for the month
of September.
2. Compute the Casing and Curing Department's cost per
equivalent unit for mixing, materials, and conversion for the month
of September.
3. Compute the Casing and Curing Department's cost of ending
work in process inventory for mixing, materials, conversion, and in
total for September.
4. Compute the Casing and Curing Department's cost of units
transferred out to the...
On March 1, the Mixing Department had 100 rolls of paper in
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mixing process for an additional 4,800 rolls of paper. The
department started but did not finish the mixing process for an
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direct materials and conversion work at the end of March. Direct
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