Homework Answers
Option C is the answer
With respect to calculate conversion cost the percentage of completion for the current period ,there's no need of beginning work in process inventory but ending Work in Process Inventory is neeeded
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In a given process costing system, the equilvalent units are computed using the weigh period is...
In a given process costing system, the equivalent units are computed using the weighted average method....
In a given process costing system, the equivalent units are computed using the weighted average method. With respect to conversion costs, the percentage of completion for the current period is necessary for the calculation of the: Beginning Work-In- Process Inventory Yes Yes Ending Work-In- Process Inventory Yes No A) B) No Yes D) No No
The following info is given in the previous page: Work in process, beginning Units in process.......
The following info is given in the previous page: Work in process, beginning Units in process.... Stage of completion with respect to materials ....... Stage of completion with respect to conversion Costs in the beginning inventory: Materials cost..... Conversion cost 400 70% 90% $1,000 $6,000 9,600 9,200 Units started into production during the month. Units completed and transferred out Costs added to production during the month: Materials cost..... Conversion cost ... $200,000 $300,000 Work in process, ending Units in process...
Haydn Corporation uses the weighted-average method in its process costing system. The ending work-in-process invent...
Haydn Corporation uses the weighted-average method in its process costing system. The ending work-in-process inventory consists of 10,000 units. The ending work-in-process inventory is 100 % complete with respect to materials. The cost per equivalent unit for the period is $3.75 for material and $1.25 for conversion cost. If the ending balance of work-in-process inventory account is $40,625, what is the percentage of completion with respect to conversion cost in the ending work-in-process inventory account? A. В. 8% 92% 25%...
Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,500 units. The costs and percentage completion of these units in beginning inventory were: Percent Complete Cost $6,100 $9,400 Materials costs Conversion costs 60 55% A total of 9,150 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 during the...
Bistrol Corporation uses the weighted average method in its process costing system. This month, the beginning...
Bistrol Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Percent Cost Complete Materials costs $15,700 75% Conversion costs $ 7,700 20% A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Orange Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Orange Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 300 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs……………… $3,100 70% Conversion costs................. $2,900 50% A total of 8,500 units were started and 8,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the...
Question 4 (14 Marks) Johnstone Brewers Inc. uses the FIFO method in its process costing system....
Question 4 (14 Marks) Johnstone Brewers Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month: Work in process, beginning Units in process Stage of completion with respect to materials Stage of completion with respect to conversion Costs in the beginning inventory Materials cost Conversion cost 300 60% 80% $594 $8.256 Units started into production during the month Units completed and transferred out 26,000...
Question #8 Majestic Company uses the weighted average method in its process costing system. The company...
Question #8 Majestic Company 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 May 31 consisted of 72,000 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 May was $11.00 for materials and $17.00 for labor and overhead, the...
Carpenter Corporation uses the weighted average method in its process costing system. This month, the beginning...
Carpenter Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,100 units. The costs and percentage completion of these units in beginning inventory were: Percent Complete 60% Cost $ 6,700 $10,000 Materials costs Conversion costs 55% A total of 10,050 units were started and 8,600 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Domingo Corporation uses the weighted average method in its process costing system. This month, the beginning...
Domingo Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,200 units. The costs and percentage completion of these units in beginning inventory were: Percent Cost Complete Materials costs $ 6,300 50% Conversion costs $ 2,500 20% A total of 7,600 units were started and 6,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing...
In a given process costing system, the equivalent units are computed using the weighted average method. With respect to conversion costs, the percentage of completion for the current period is necessary for the calculation of the: Beginning Work-In- Process Inventory Yes Yes Ending Work-In- Process Inventory Yes No A) B) No Yes D) No No
The following info is given in the previous page: Work in process, beginning Units in process.... Stage of completion with respect to materials ....... Stage of completion with respect to conversion Costs in the beginning inventory: Materials cost..... Conversion cost 400 70% 90% $1,000 $6,000 9,600 9,200 Units started into production during the month. Units completed and transferred out Costs added to production during the month: Materials cost..... Conversion cost ... $200,000 $300,000 Work in process, ending Units in process...
Haydn Corporation uses the weighted-average method in its process costing system. The ending work-in-process inventory consists of 10,000 units. The ending work-in-process inventory is 100 % complete with respect to materials. The cost per equivalent unit for the period is $3.75 for material and $1.25 for conversion cost. If the ending balance of work-in-process inventory account is $40,625, what is the percentage of completion with respect to conversion cost in the ending work-in-process inventory account? A. В. 8% 92% 25%...
Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,500 units. The costs and percentage completion of these units in beginning inventory were: Percent Complete Cost $6,100 $9,400 Materials costs Conversion costs 60 55% A total of 9,150 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 during the...
Bistrol Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Percent Cost Complete Materials costs $15,700 75% Conversion costs $ 7,700 20% A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Question 4 (14 Marks) Johnstone Brewers Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month: Work in process, beginning Units in process Stage of completion with respect to materials Stage of completion with respect to conversion Costs in the beginning inventory Materials cost Conversion cost 300 60% 80% $594 $8.256 Units started into production during the month Units completed and transferred out 26,000...
Question #8 Majestic Company 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 May 31 consisted of 72,000 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 May was $11.00 for materials and $17.00 for labor and overhead, the...
Carpenter Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,100 units. The costs and percentage completion of these units in beginning inventory were: Percent Complete 60% Cost $ 6,700 $10,000 Materials costs Conversion costs 55% A total of 10,050 units were started and 8,600 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Domingo Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,200 units. The costs and percentage completion of these units in beginning inventory were: Percent Cost Complete Materials costs $ 6,300 50% Conversion costs $ 2,500 20% A total of 7,600 units were started and 6,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing...
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