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Question 2 General Fabricators assembles its product in several departments. It has two departments that process...
Part IV. Problem - Total - 30 points. Otylia Manufacturing Company assembles its product in several...
Part IV. Problem - Total - 30 points. Otylia Manufacturing Company assembles its product in several departments. It has two departments that process all units. During February, the beginning work in process in the cutting department was half completed as to conversion, and complete as to direct materials. The beginning inventory included $12,000 for materials and $3,000 for conversion costs. Ending work-in-process inventory in the cutting department was 40% complete. Direct materials are added at the beginning of the process....
Required: Prepare a production cost worksheet, using Weighted Average for the finishing department. Please show work....
Required: Prepare a production cost worksheet, using Weighted
Average for the finishing department. Please show work.
13) Lexington Company produces baseball bats and cricket paddles. It has two departments that process all products. During July, the beginning work in process in the cutting department was half completed as to conversion, and complete as to direct materials. The beginning inventory included $40,000 for materials and $60,000 for conversion costs. Ending work-in-process inventory in the cutting department was 40% complete. Direct materials...
Required: Prepare a production cost worksheet, using (((weighted average))) for the finishing department. 13) Lexington Company...
Required:
Prepare a production cost worksheet, using (((weighted
average))) for the finishing department.
13) Lexington Company produces baseball bats and cricket paddles. It has two departments that process all products. During July, the beginning work in process in the cutting department was half completed as to conversion, and complete as to direct materials. The beginning inventory included $40,000 for materials and $60,000 for conversion costs. Ending work-in-process inventory in the cutting department was 40% complete. Direct materials are added at...
has tw o departments that process all units. During February, n the cutting process i complete...
has tw o departments that process all units. During February, n the cutting process i complete as to direct materials. 1 materials and $3,000 conversior embles its product in several departments. It the beginning work in department was half completed as to conversion, an I he beginning inventory included $12,000 for for conversion costs. Ending work-in-proces inventory in the beginning of the process. .. ..'% complete. Direct materials are added at the beginning Beginning work i n process in the...
McCallum Tool Company has two departments, assembly and finishing. The assembly department takes purchased parts and...
McCallum Tool Company has two departments, assembly and finishing. The assembly department takes purchased parts and assembles the final product. The finishing department performs testing and adds other materials and packages the product. Direct materials are added at the end of the process in the finishing department. The following summarizes the finishing department’s operations for the month of July. Number of Units Work-in-process, July 1, 50% complete for conversion costs 4,000 Transferred in during July 28,000 Completed during July 27,000...
BDB Company manufactures its one product by a process that requires two departments. The production starts...
BDB Company manufactures its one product by a process that requires two departments. The production starts in Department A and is completed in Department B. Direct materials are added at the beginning of the process in Department A. Additional direct materials are added when the process is 50% complete in Department B. Conversion costs are incurred proportionally throughout the production processes in both departments. On April 1, Department A had 500 units in Work-in-Process estimated to be 30% complete for...
Question l: Process Costing (20 marks) Leo International Manufacturing Inc's Assembly Department transfers costs and products...
Question l: Process Costing (20 marks) Leo International Manufacturing Inc's Assembly Department transfers costs and products to the company's Finishing Department when Assembly Department has done with its producing process. The Finishing Department has the following for the most recent accounting period: Conversion costs are incurred evenly throughout the process and direct materials are added at the very end of the process. Required: Use the weighted Average of cost flow to calculate the following items for Department Finishing for the...
Question l: Process Costing (20 marks) Leo International Manufacturing Inc's Assembly Department transfers costs and products...
Question l: Process Costing (20 marks) Leo International Manufacturing Inc's Assembly Department transfers costs and products to the company's Finishing Department when Assembly Department has done with its producing process. The Finishing Department has the following for the most recent accounting period: Conversion costs are incurred evenly throughout the process and direct materials are added at the very end of the process. Required: Use the weighted Average of cost flow to calculate the following items for Department Finishing for the...
Fast Co. produces its product through two processing departments. Direct materials are added at the start...
Fast Co. produces its product through two processing departments. Direct materials are added at the start of production in the Cutting department, and conversion costs are added evenly throughout each process. The company uses monthly reporting periods for its weighted-average process costing system. The Work in Process Inventory-Cutting account has a balance of $98,300 as of October 1, which consists of $21,300 of direct materials and $77,000 of conversion costs. During the month, the Cutting department incurred the following costs:...
Shenzhen Sports Co., Ltd. manufactures golf bags in a two-department process: Assembly and Finishing. The Assembly...
Shenzhen Sports Co., Ltd. manufactures golf bags in a two-department process: Assembly and Finishing. The Assembly Department uses weighted average costing; the percentage of completion of overhead in this department is unrelated to direct labor. The Finishing Department adds hardware to the assembled bags and uses FIFO costing; overhead is applied in this department on a direct labor basis. For June, the following production data and costs were gathered: Assembly Department: Units Beginning WIP Inventory (100% complete for Direct Materials;...
Part IV. Problem - Total - 30 points. Otylia Manufacturing Company assembles its product in several departments. It has two departments that process all units. During February, the beginning work in process in the cutting department was half completed as to conversion, and complete as to direct materials. The beginning inventory included $12,000 for materials and $3,000 for conversion costs. Ending work-in-process inventory in the cutting department was 40% complete. Direct materials are added at the beginning of the process....
Required: Prepare a production cost worksheet, using Weighted
Average for the finishing department. Please show work.
13) Lexington Company produces baseball bats and cricket paddles. It has two departments that process all products. During July, the beginning work in process in the cutting department was half completed as to conversion, and complete as to direct materials. The beginning inventory included $40,000 for materials and $60,000 for conversion costs. Ending work-in-process inventory in the cutting department was 40% complete. Direct materials...
Required:
Prepare a production cost worksheet, using (((weighted
average))) for the finishing department.
13) Lexington Company produces baseball bats and cricket paddles. It has two departments that process all products. During July, the beginning work in process in the cutting department was half completed as to conversion, and complete as to direct materials. The beginning inventory included $40,000 for materials and $60,000 for conversion costs. Ending work-in-process inventory in the cutting department was 40% complete. Direct materials are added at...
has tw o departments that process all units. During February, n the cutting process i complete as to direct materials. 1 materials and $3,000 conversior embles its product in several departments. It the beginning work in department was half completed as to conversion, an I he beginning inventory included $12,000 for for conversion costs. Ending work-in-proces inventory in the beginning of the process. .. ..'% complete. Direct materials are added at the beginning Beginning work i n process in the...
Question l: Process Costing (20 marks) Leo International Manufacturing Inc's Assembly Department transfers costs and products to the company's Finishing Department when Assembly Department has done with its producing process. The Finishing Department has the following for the most recent accounting period: Conversion costs are incurred evenly throughout the process and direct materials are added at the very end of the process. Required: Use the weighted Average of cost flow to calculate the following items for Department Finishing for the...
Question l: Process Costing (20 marks) Leo International Manufacturing Inc's Assembly Department transfers costs and products to the company's Finishing Department when Assembly Department has done with its producing process. The Finishing Department has the following for the most recent accounting period: Conversion costs are incurred evenly throughout the process and direct materials are added at the very end of the process. Required: Use the weighted Average of cost flow to calculate the following items for Department Finishing for the...
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