Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units
Middelton Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for October:
All materials are added at the beginning of the process.
Beginning work in process had 93,100 units, 25 percent complete with respect to conversion costs.
Ending work in process had 13,900 units, 35 percent complete with respect to conversion costs.
Started in process, 95,400 units.
1. Suppose that the cost of direct materials in beginning work in process is $644,700 and that the direct materials cost incurred for October is $746,500. With these changes, answer the following:
a. What is the unit materials cost for the units in BWIP? Round your answers to the nearest cent.
$
b. What is the unit materials cost for units produced in October? Round your answers to the nearest cent.
$
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Appendix: Normal and Abnormal Spoilage in Process Costing, Changes in Output Measures, Multiple DepartmentsGrayson Company produces an industrial chemical used for cleaning and lubricating machinery. In the Mixing Department, liquid and dry chemicals are blended to form slurry. Output is measured in gallons. In the Baking Department, the slurry is subjected to high heat, and the residue appears in irregular lumps. Output is measured in pounds. In the Grinding Department, the irregular lumps are ground into a powder, and this...
QUESTION 4 Nonuniform Inputs, Weighted Average Carter Inc. had the following production and cost information for its fabrication department during April (with materials added at the beginning of the fabrication process): Production: Units in process, April 1, 50% complete with respect to conversion 10,000 Units completed 65,200 Units in process, April 30, 60% complete 12,000 Costs: Work in process, April 1: Materials $40,980 Conversion costs 14,600 Total $55,580 Current costs: Materials $125,000 Conversion costs 210,000 Total $335,000 Carter uses the...
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FIFO Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was $40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments. The second department (Polishing) had the following physical flow schedule for December: Units to account for: Units,...
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QUESTION 1 Equivalent Units, No Beginning Work in Process Frankle Manufacturing produces cylinders used in internal combustion engines. During June, Frankle’s welding department had the following data: Units in BWIP — Units completed 47,000 Units in EWIP (40% complete) 5,600 Required: Calculate June's output for the welding department in equivalent units of production. units QUESTION 2 Unit Cost, Valuing Goods Transferred Out and EWIP During April, the grinding department of Tranx Inc. completed and transferred out 312,000 units. At the...
Cornerstone Exercise 6.6 (Algorithmic) Nonuniform Inputs Apeto Company produces premium chocolate candy bars. Conversion costs are added uniformly. For February, EWIP is 40 percent complete with respect to conversion costs. Materials are added at the beginning of the process. The following information is provided for February: Physical flow schedule: Units to account for: Units in BWIP 0 Units started 70,000 Total units to account for 70,000 Units to account for: Units completed: From BWIP 0 Started and completed 45,000 45,000...
Morrison Company had the equivalent units schedule and cost information for its Sewing Department for the month of December, as shown below. Direct Materials Conversion Costs Units completed 46,000 46,000 Add: Units in ending work in process × Percentage complete: 10,000 × 100% direct materials 10,000 — 10,000 × 40% conversion materials — 4,000 Eqivalent units of output 56,000 50,000 Costs: Work in process, December 1: Direct materials $66,000 Conversion costs 11,000 Total...
! Required information [The following information applies to the questions displayed below.] Pacific Ink had beginning work-in-process inventory of $748,960 on October 1. Of this amount, $306,920 was the cost of direct materials and $442,040 was the cost of conversion. The 50,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs. During October, 106,000 units were transferred out and 32,000 remained in ending inventory. The units in ending inventory were 75...
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