Hi, would you help me with the solution of the problem below? Thanks Tanya Badgersize Company...
Hi, would you help me with the solution of the problem below?
Thanks Tanya
Badgersize Company has the following information for its Forming Department for the month of August.
| Work in Process Inventory, August 1: 20,000 units | |||
| Direct materials: 100% complete | $ | 80,000 | |
| Conversion: 20% complete | 24,000 | ||
| Balance in work in process, August 1 | $ | 104,000 | |
| Units started during August | 50,000 | ||
| Units completed and transferred in August | 60,000 | ||
| Work in process (70% complete), August 31 | ? | ||
| Costs charged to Work in Process in August | |||
| Direct materials | $ | 150,000 | |
| Conversion costs: | |||
| Direct labor | $ | 120,000 | |
| Overhead applied | 132,000 | ||
| Total conversion | $ | 252,000 | |
Assume materials are added at the start of processing.
Required:
a. Calculate the equivalent units for the Forming Department for the month of August.
b. Find the cost per equivalent unit of input resource.
Homework Answers
(a) Equivalent Units :-
|
Direct Materials |
Conversion |
|
|
Beginning WIP |
0 |
(20000 * 80%) =16000 |
|
Units started & completed |
40000 |
40000 |
|
Ending WIP |
10000 |
(10000 * 70%) =7000 |
|
Equivalent Units |
50000 |
63000 |
(b) Cost per Equivalent Unit :-
|
Direct Materials |
Conversion |
|
|
Cost incurred |
$150000 |
$252000 |
|
Equivalent Units |
50000 |
63000 |
|
Cost per Equivalent Unit |
$3 |
$4 |
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Hi, would you help me with the solution of the problem
below?
Thanks Tanya
Badgersize Company...
Badgersize company
Badgersize Company has the following information for its Forming Department for the month of August:Work in Process Inventory, August 1: 20,000 unitsDirect materials: 100% complete $ 80,000Conversion: 20% complete 24,000Balance in work in process, August 1 $ 104,000Units started during August 50,000Units completed and transferred in August 60,000Work in process (70% complete), August 31 ?Costs charged to Work in Process in AugustDirect materials $ 150,000Conversion costs:Direct labor $ 120,000Overhead applied 132,000Total conversion $ 252,000Assume materials are added at the start...
Badgersize Company has the following information for its Forming Department for the month of August. $...
Badgersize Company has the following information for its Forming Department for the month of August. $ 80,000 24,000 104,000 53,000 58,000 Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete Conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials Conversion costs: Direct labor Overhead applied Total conversion $ 136,000...
Explanations for each answer are appreciated. Badgersize Company has the following information for its Forming Department...
Explanations for each answer are
appreciated.
Badgersize Company has the following information for its Forming Department for the month of August Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete $80,000 24,000 $ 104,000 48,000 56,000 conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials Conversion costs Direct labor...
Badgersize Company has the following information for its Forming Department for the month of August. Work in Process In...
Badgersize Company has the following information for its Forming Department for the month of August. Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete Conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials 80,000 24,000 104,000 54,000 58,000 ? 157,000 Conversion costs: Direct labor 112,000 Overhead applied 147,000 259,000...
Badgersize Company has the following information for its Forming Department for the month of August. Work...
Badgersize Company has the following information for its Forming Department for the month of August. Work in Process Inventory, August 1: 20,900 units Direct materials: 100% complete s 80,eee 24,e00 $104,00e 55,e00 56,000 conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials Conversion costs: Direct labor Overhead applied $138,000 $117,e00 147,000 $264,006e...
The answers that I got before were: A) for Direct materials is $237,000 and for conversion...
The answers that I got before were:
A) for Direct materials is $237,000 and for conversion is
$283,000
B) For direct materials is 3.20 and for conversion is 4.09.
The assignment said that these were not correct. Thank you in
advance for your help!
Badgersize Company has the following information for its Forming Department for the month of August. $ 80,000 24,000 $ 104,000 54,000 58,000 Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete Conversion: 20%...
Work in Process Inventory, August 1 20,000 units Direct materials: 100% complete $80,000 24,000 104,000 45,000...
Work in Process Inventory, August 1 20,000 units Direct materials: 100% complete $80,000 24,000 104,000 45,000 Conversion: 20% complete Balance in work in process, August 1 $ Units started during August Units completed and transferred in August work in process (70% complete), August 31 Costs charged to Work in Process in 57,000 7 August 166,000 Direct materials Conversion costs Direct labor Overhead applied 104,000 142,000 246,000 Total conversion Assume materials are added at the start of processing Instructions a. Calculate...
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Required information The following information applies to the questions displayed below.) Fields Company has two manufacturing...
Required information The following information applies to the questions displayed below.) Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method of process costing. At the beginning of the month, the forming department has 37,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $84,100 consisted of $59,200 of direct materials costs and $24,900 of conversion costs. During the month, the forming department...
Chapter 16 Process Costing and Analysis A production department in a process manufacturing system complete...
Chapter 16 Process Costing and Analysis A production department in a process manufacturing system completed its work on 80,000 units of product and transferred them to the next department during a recent period. Of these units, 24,000 were in process W at the beginning of the period. The other 56,000 units were started and completed during the period. At C period-end, 16,000 units were in process. Compute the production department's equivalent units of produc- C tion for direct materials under...
Badgersize Company has the following information for its Forming Department for the month of August. $ 80,000 24,000 104,000 53,000 58,000 Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete Conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials Conversion costs: Direct labor Overhead applied Total conversion $ 136,000...
Explanations for each answer are
appreciated.
Badgersize Company has the following information for its Forming Department for the month of August Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete $80,000 24,000 $ 104,000 48,000 56,000 conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials Conversion costs Direct labor...
Badgersize Company has the following information for its Forming Department for the month of August. Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete Conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials 80,000 24,000 104,000 54,000 58,000 ? 157,000 Conversion costs: Direct labor 112,000 Overhead applied 147,000 259,000...
Badgersize Company has the following information for its Forming Department for the month of August. Work in Process Inventory, August 1: 20,900 units Direct materials: 100% complete s 80,eee 24,e00 $104,00e 55,e00 56,000 conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials Conversion costs: Direct labor Overhead applied $138,000 $117,e00 147,000 $264,006e...
The answers that I got before were:
A) for Direct materials is $237,000 and for conversion is
$283,000
B) For direct materials is 3.20 and for conversion is 4.09.
The assignment said that these were not correct. Thank you in
advance for your help!
Badgersize Company has the following information for its Forming Department for the month of August. $ 80,000 24,000 $ 104,000 54,000 58,000 Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete Conversion: 20%...
Work in Process Inventory, August 1 20,000 units Direct materials: 100% complete $80,000 24,000 104,000 45,000 Conversion: 20% complete Balance in work in process, August 1 $ Units started during August Units completed and transferred in August work in process (70% complete), August 31 Costs charged to Work in Process in 57,000 7 August 166,000 Direct materials Conversion costs Direct labor Overhead applied 104,000 142,000 246,000 Total conversion Assume materials are added at the start of processing Instructions a. Calculate...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method of process costing. At the beginning of the month, the forming department has 37,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $84,100 consisted of $59,200 of direct materials costs and $24,900 of conversion costs. During the month, the forming department started 540,000 units. At the end of the month, the forming...
Required information The following information applies to the questions displayed below.) Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method of process costing. At the beginning of the month, the forming department has 37,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $84,100 consisted of $59,200 of direct materials costs and $24,900 of conversion costs. During the month, the forming department...
Chapter 16 Process Costing and Analysis A production department in a process manufacturing system completed its work on 80,000 units of product and transferred them to the next department during a recent period. Of these units, 24,000 were in process W at the beginning of the period. The other 56,000 units were started and completed during the period. At C period-end, 16,000 units were in process. Compute the production department's equivalent units of produc- C tion for direct materials under...
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