Select the correct formula for computing equivalent units for the period under the weighted average approach....
Select the correct formula for computing equivalent units for the period under the weighted average approach.
Multiple Choice
A. Equivalent units = (Units transferred + Ending inventory units) × Percentage complete
B. Equivalent units = Units transferred + Ending inventory units
C. Equivalent units = Units transferred
D. Equivalent units = Units transferred + (Ending inventory units × Percentage complete)
Homework Answers
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answer)option D Equivalent units = Units transferred + (Ending inventory units × Percentage complete) since units transferred are 100% complete we take them as it is , whereas ending inventory units are still in progress so we need to multiply with percentage complete |
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Select the correct formula for computing equivalent units for
the period under the weighted average approach....
13. The weighted average process-costing method caleulates the equivalent units by A) considering only the work...
13. The weighted average process-costing method caleulates the equivalent units by A) considering only the work done during the current period B) the units started during the current period minus the units in enam C) the units started during the current period plus the units in ending inventory D) the equivalent units completed during the current period plus the equivalent units in ending inventory 14. In the computation of the cost per equivalent unit, the weighted average method or process...
Equivalent Units and Product Cost Report-Weighted Average Method The following data (and annotations) are for Nelson...
Equivalent Units and Product Cost Report-Weighted Average Method The following data (and annotations) are for Nelson Company's processing department work-in-process account for the month of September 2019: Beginning inventory (1,500 units, 70% complete) Direct materials $22,000 Conversion costs 10,000 Current period Direct materials (6,000 units) 50,000 Direct labor 41,000 Manufacturing overhead applied 65,440 Nelson uses the weighted average method. Materials are added at the beginning of the process and conversion costs are incurred evenly throughout. Ending work-in-process is composed of...
For each of the following independent cases, determine the units or equivalent units requested (assuming weighted...
For each of the following independent cases, determine the units or equivalent units requested (assuming weighted average costing). Required: a. Beginning inventory had 12,300 units 40 percent complete with respect to conversion costs. During the period, 10,500 units were started. Ending inventory had 10,000 units 30 percent complete with respect to conversion costs. How many units were transferred out? b. Beginning inventory consisted of 16,000 units with a direct materials cost of $56,800. The equivalent work represented by all direct...
A company uses the weighted average method for inventory costing. At the end of the period,...
A company uses the weighted average method for inventory costing. At the end of the period, 30,000 units were in the ending Work in Process inventory and are 100% complete for materials and 83% complete for conversion. The equivalent costs per unit are materials, $273, and conversion $2.21. Compute the cost that would be assigned to the ending Work in Process inventory for the period. Multiple Choice $136.929. $244,500 $134.408
i need to learn this for my exam tommorow Equivalent Units and Product Cost Report-Weighted Average...
i need to learn this for my exam tommorow
Equivalent Units and Product Cost Report-Weighted Average Method Toits rss ronth's operations (January 2019. Schramiski Company's Department 1 incurred charges of $120,000 for direct materials (10,000 units), $29,875 for direct Labor, and $58,000 for manufacturing overhead. At month-end, 9,000 units had been finished and transferred out. The remaining units were finished with respect to material but only 25% complete with respect to conversion costs. Assuming Schramiski uses the weighted average method...
Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that passes...
Weighted Average 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:...
I need help with my assignment please.. Exercise 3-4 Weighted average: Equivalent units computed LO C2...
I need help with my assignment please..
Exercise 3-4 Weighted average: Equivalent units computed LO C2 The production department in a process manufacturing system completed 279,000 units of product and transferred them to finished goods during a recent period of these units, 59,000 were in process at the beginning of the period. The other 220,000 units were started and completed during the period. At period end, 39,000 units were in process. Prepare the department's equivalent units of production with respect...
Calculate Equivalent Units, Unit Costs, and Transferred Costs - Weighted Average Method Monroe Company processes a...
Calculate Equivalent Units, Unit Costs, and Transferred
Costs - Weighted Average Method
Monroe Company processes a food seasoning powder through its
Compounding and Packaging departments. In yhe Compounding
Department, direct materials are added at the beginning of the
process, and direct labor and manufacturing overhead are incurred
evenly throughout the process. Monroe uses the weighted average
method. Costs in the Compounding Department can be summarized as
follows:
At August 31, 2019, 3,00 units were in process, 30% complete
with respect...
Equivalent Units and Product Cost Report-Weighted Average Method The following data (and annotations) are for the...
Equivalent Units and Product Cost Report-Weighted Average Method The following data (and annotations) are for the work in process account of the first of Crocker Company's four departments used in manufacturing its only product for October of 2016. Work in Process-Department 1 Beginning balance (2,000 units, 70% complete) Direct material $12,400 Conversion costs 4,800 Transferred to department 2 (20,000 units) Direct material (21,000 units) Direct labor 72,600 Manufacturing overhead 24,150 Ending balance [(b) units, 25% complete] (c) (a) 126,000 Assuming...
Equivalent Units and Product cost Report-Weighted Average Method The following data (and annotations) are for Joyner Com...
Equivalent Units and Product cost Report-Weighted Average Method The following data (and annotations) are for Joyner Company's processing department work-in-process account for the month of June 2019: Beginning inventory (700 units, 40% complete) Direct materials $29,050 Conversion costs 79,420 Current period Direct materials (5,000 units) 350,000 Direct labor 596,000 Manufacturing overhead applied 378,000 Joyner uses the weighted average method. Materials are added at the beginning of the process and conversion costs are incurred evenly throughout. Ending work-in-process is composed of...
13. The weighted average process-costing method caleulates the equivalent units by A) considering only the work done during the current period B) the units started during the current period minus the units in enam C) the units started during the current period plus the units in ending inventory D) the equivalent units completed during the current period plus the equivalent units in ending inventory 14. In the computation of the cost per equivalent unit, the weighted average method or process...
Equivalent Units and Product Cost Report-Weighted Average Method The following data (and annotations) are for Nelson Company's processing department work-in-process account for the month of September 2019: Beginning inventory (1,500 units, 70% complete) Direct materials $22,000 Conversion costs 10,000 Current period Direct materials (6,000 units) 50,000 Direct labor 41,000 Manufacturing overhead applied 65,440 Nelson uses the weighted average method. Materials are added at the beginning of the process and conversion costs are incurred evenly throughout. Ending work-in-process is composed of...
For each of the following independent cases, determine the units or equivalent units requested (assuming weighted average costing). Required: a. Beginning inventory had 12,300 units 40 percent complete with respect to conversion costs. During the period, 10,500 units were started. Ending inventory had 10,000 units 30 percent complete with respect to conversion costs. How many units were transferred out? b. Beginning inventory consisted of 16,000 units with a direct materials cost of $56,800. The equivalent work represented by all direct...
A company uses the weighted average method for inventory costing. At the end of the period, 30,000 units were in the ending Work in Process inventory and are 100% complete for materials and 83% complete for conversion. The equivalent costs per unit are materials, $273, and conversion $2.21. Compute the cost that would be assigned to the ending Work in Process inventory for the period. Multiple Choice $136.929. $244,500 $134.408
i need to learn this for my exam tommorow
Equivalent Units and Product Cost Report-Weighted Average Method Toits rss ronth's operations (January 2019. Schramiski Company's Department 1 incurred charges of $120,000 for direct materials (10,000 units), $29,875 for direct Labor, and $58,000 for manufacturing overhead. At month-end, 9,000 units had been finished and transferred out. The remaining units were finished with respect to material but only 25% complete with respect to conversion costs. Assuming Schramiski uses the weighted average method...
I need help with my assignment please..
Exercise 3-4 Weighted average: Equivalent units computed LO C2 The production department in a process manufacturing system completed 279,000 units of product and transferred them to finished goods during a recent period of these units, 59,000 were in process at the beginning of the period. The other 220,000 units were started and completed during the period. At period end, 39,000 units were in process. Prepare the department's equivalent units of production with respect...
Calculate Equivalent Units, Unit Costs, and Transferred
Costs - Weighted Average Method
Monroe Company processes a food seasoning powder through its
Compounding and Packaging departments. In yhe Compounding
Department, direct materials are added at the beginning of the
process, and direct labor and manufacturing overhead are incurred
evenly throughout the process. Monroe uses the weighted average
method. Costs in the Compounding Department can be summarized as
follows:
At August 31, 2019, 3,00 units were in process, 30% complete
with respect...
Equivalent Units and Product Cost Report-Weighted Average Method The following data (and annotations) are for the work in process account of the first of Crocker Company's four departments used in manufacturing its only product for October of 2016. Work in Process-Department 1 Beginning balance (2,000 units, 70% complete) Direct material $12,400 Conversion costs 4,800 Transferred to department 2 (20,000 units) Direct material (21,000 units) Direct labor 72,600 Manufacturing overhead 24,150 Ending balance [(b) units, 25% complete] (c) (a) 126,000 Assuming...
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