20) The answer is B. As under FIFO method we will consider the cost incurred during current period i.e $200,000 which will be divided by units transferred + work-in-progress units i.e 800+400
So, the cost per equivalent unit will be $200,000/1200 =$167
21) The answer is C. As for the beginning inventory of October, the closing percentage of September will be considered.
22) The answer is B
do all 3 C) job costing report D) equivalent units report 20) 20) During September, the...
The Assembly Department of Great Motors began September with no work in process inventory. During the month, production that cost $35,282 (direct materials, $8,242, and conversion costs, $27,040) was started on 23,000 units. Great completed and transferred to the Testing Department a total of 12,000 units. The ending work in process inventory was 35 % complete as to direct materials and 80% complete as to conversion work Read the reauirements Requirement 1. Compute the equivalent units for direct materials and...
Exercise 4A-9 Equivalent Units; Equivalent Units of Production; Assigning Costs-FIFO Method [LO4-6, LO4-7, LO4-8] Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company’s processing departments: Units in beginning inventory 430 Units started into production 4,330 Units in ending inventory 270 Units transferred to the next department 4,490 Materials Conversion Percentage completion of beginning inventory 60 % 40 % Percentage completion of ending...
Exercise 5S-9 Equivalent Units; Equivalent Units of Production; Assigning Costs-FIFO Method [LO5S-6, LO5S-7, LO5S-8] Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company’s processing departments: Units in beginning inventory 410 Units started into production 4,280 Units in ending inventory 290 Units transferred to the next department 4,400 Materials Conversion Percentage completion of beginning inventory 70 % 30 % Percentage completion of ending...
The Assembly Department of Value Motors began September with no work in process inventory. During the month, production that cost $62,634 (direct materials, $13,674, and conversion costs, $48,960) was started on 30,000 units. Value completed and transferred to the Testing Department a total of 24,000 units. The ending work in process inventory was 30% complete as to direct materials and 80% complete as to conversion work. Requirement 1. Compute the equivalent units for direct materials and conversion costs. Assembly Department...
During September, the Filtering Department of Tithonia, Inc. had a beginning Work-in-Process Inventory of 600 units with costs of $140,000. During the month, it started and completed 800 units. It had 220 units in the ending Work-in-Process Inventory. What is the number of equivalent units of production for transferred in units in the Filtering Department in September under the first-in, first-out (FIFO) method? A. 380 units B. 1,020 units C. 600 units D. 1,620 units
During April, the first production department of a process manufacturing system completed its work on 355,000 units of a product and transferred them to the next department. Of these transferred units, 71,000 were in process in the production department at the beginning of April and 284,000 were started and completed in April. April's beginning inventory units were 65% complete with respect to materials and 35% complete with respect to conversion. At the end of April, 93,000 additional units were in...
Equivalent Units and Product Cost Report—FIFO Method The following data (and annotations) for March 2016 are for the work in process account of the first of Olympus Company’s four departments used in manufacturing its only product. Work in Process-Department 1 Beginning balance (3,000 units, 40% complete) $18,200 Transferred to department 2: (23,000 units) (a) Direct material (24,000 units) 96,000 Direct labor 77,300 Manufacturing overhead 36,700 Ending balance [ (b) units, 25% complete] (c) Assuming that Olympus uses the FIFO method,...
E C D 1 Hayword, Inc. uses weighted average costing and has two departments - mixing and packaging. 2 The following information relates to work in the mixing department for the month of July: 300 60% 40% 4 Work in process, July 1: 5 Units in process 6 Percent completed with respect to materials 7 Percent completed with respect to conversion 8 Cost in the beginning inventory: 9 Materials cost 10 Conversion cost 11 Units started into production during the...
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...
Required Information The following information applies to the questions displayed below.) During April, the first production department of a process manufacturing system completed its work on 375,000 units of a product and transferred them to the next department. Of these transferred units, 75,000 were in process in the production department at the beginning of April and 300.000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to...