Knowledge Check 01 The cost of beginning work in process inventory plus the costs added to...
Knowledge Check 01
The cost of beginning work in process inventory plus the costs added to production during the period equals the _______.
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cost of ending work in process inventory
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cost of units transferred out
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total cost to be accounted for
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cost of units started during the period
Knowledge Check 02
A company has three processing departments: Mixing, Baking, and Packaging. The Baking Department transfers 500 units to the Packaging Department. How will the Packaging Department account for the costs of those 500 units?
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Finished goods
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Cost of input materials
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Costs transferred in
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Costs transferred out
Homework Answers
Knowledge Check 01
Answer
total cost to be accounted for
As
The total cost to be accounted for is equal to cost of beginning work in process plus the cost of all inputs added during the period
Knowledge Check 02
Answer
Costs transferred in
As
Any material transferred in the process from previous process is termed as transferred in and cost is treated as costs of transferred in
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Knowledge Check 01
The cost of beginning work in process inventory plus the costs
added to...
6. What is the cost of beginning work in process inventory plus the cost added during...
6. What is the cost of beginning work in process inventory plus
the cost added during the period for materials?
7. What is the cost of beginning work in process inventory plus
the cost added during the period for conversion?
8. What is the cost per equivalent unit for materials?
(Round your answer to 2 decimal places.)
9. What is the cost per equivalent unit for conversion?
(Round your answer to 2 decimal places.)
10. What is the cost of...
In July, one of the processing departments at Junkin Corporation had beginning work in process inventory...
In July, one of the processing departments at Junkin Corporation had beginning work in process inventory of $18,000 and ending work in process inventory of $20,000. During the month, $194,000 of costs were added to production and the cost of units transferred out from the department was $192,000. Required: Construct a cost reconciliation report for the department for the month of July. Costs to be accounted for Cost of beginning work in process inventory Costs added to production during the...
In July, one of the processing departments at Junkin Corporation had beginning work in process inventory...
In July, one of the processing departments at Junkin Corporation
had beginning work in process inventory of $18,000 and ending work
in process inventory of $20,000. During the month, $194,000 of
costs were added to production and the cost of units transferred
out from the department was $192,000.
Required:
Construct a cost reconciliation report for the department for
the month of July.
Costs to be accounted for: Cost of beginning work in process inventory Costs added to production during the...
Direct Materials Conversion Costs Total Costs Cost per Unit COSTS Costs to account for: Beginning work-in-process...
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Maria Am Corporation uses the weighted-average method in its process costing system. The Baking Department is...
Maria Am Corporation uses the weighted-average method in its process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of beginning work in process inventory was $4,900, the cost of ending work in process inventory was $1,180, and the cost added to production was $25,600. Required: Prepare a cost reconciliation report for the Baking Department for June Baking Department Cost Reconciliation Costs to be accounted...
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Check my work 4 Maria Am Corporation uses the weighted average method in its process costing...
Check my work 4 Maria Am Corporation uses the weighted average method in its process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of beginning work in process inventory was $4,860, the cost of ending work in process inventory was $1,110, and the cost added to production was $25,700. 20 points 8 01:34:09 Required: Prepare a cost reconciliation report for the Baking Department for...
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Brining Department Equivalent units of production Costs of beginning work in process Costs added during the period Materials Conversion 1,670 1,660 S 250 350 $2,255 $3,385 Knowledge Check 01 When computing the cost per equivalent unit for conversion, what is the total cost that will be included in the numerator of that calculation? $3,735 $2,255 $5,640 $6,240 Knowledge Check 02 What is the cost per equivalent unit for conversion? $1.50 $1.67 O$2.20 O$2.25
Brining Department Equivalent units of production Costs...
6. What is the cost of beginning work in process inventory plus
the cost added during the period for materials?
7. What is the cost of beginning work in process inventory plus
the cost added during the period for conversion?
8. What is the cost per equivalent unit for materials?
(Round your answer to 2 decimal places.)
9. What is the cost per equivalent unit for conversion?
(Round your answer to 2 decimal places.)
10. What is the cost of...
In July, one of the processing departments at Junkin Corporation had beginning work in process inventory of $18,000 and ending work in process inventory of $20,000. During the month, $194,000 of costs were added to production and the cost of units transferred out from the department was $192,000. Required: Construct a cost reconciliation report for the department for the month of July. Costs to be accounted for Cost of beginning work in process inventory Costs added to production during the...
In July, one of the processing departments at Junkin Corporation
had beginning work in process inventory of $18,000 and ending work
in process inventory of $20,000. During the month, $194,000 of
costs were added to production and the cost of units transferred
out from the department was $192,000.
Required:
Construct a cost reconciliation report for the department for
the month of July.
Costs to be accounted for: Cost of beginning work in process inventory Costs added to production during the...
Direct Materials Conversion Costs Total Costs Cost per Unit COSTS Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Costs added during the period Divided by: EUP this period Cost per equivalent unit Costs accounted for: Beginning work-in-process Costs to complete beginning WIP Total costs for beginning WIP Started and completed Transferred to Mixing Department Ending work-in-process Total costs accounted for Requirement 2. Joumalize all transactions affecting the Mixing Department during March, including...
7) Vallin Manufacturing Corporation's beginning work in process inventory cond on 400 units, 100 complete with resnect materials cost and complete respect to conversion costs. The total cost in the beginning inventory was 554.000 During the month. 58.000 units were transferred out. The equivalent unit cost was computed to be 54.30 for materials and 54,80 for conversion costs under the weighted average method. Given this information, the total cost of the units completed and transferred out was: A) S527,800 B)...
800 gallons 8,400 gallons 7,700 gallons 1,500 gallons Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in March Ending Work-in-Process Inventory (80% of the way through the fermenting process) Costs Beginning Work-in-Process Inventory: Direct materials Direct labor Manufacturing overhead allocated Costs added during March: Direct materials Direct labor $ 1,509 160 260 930 3,100 Manufacturing overhead allocated $ 12,641 Total costs added during March Jackson Winery in Pleasant Valley, New York, has two departments: Fermenting...
Check my work 4 Maria Am Corporation uses the weighted average method in its process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of beginning work in process inventory was $4,860, the cost of ending work in process inventory was $1,110, and the cost added to production was $25,700. 20 points 8 01:34:09 Required: Prepare a cost reconciliation report for the Baking Department for...
Brining Department Equivalent units of production Costs of beginning work in process Costs added during the period Materials Conversion 1,670 1,660 S 250 350 $2,255 $3,385 Knowledge Check 01 When computing the cost per equivalent unit for conversion, what is the total cost that will be included in the numerator of that calculation? $3,735 $2,255 $5,640 $6,240 Knowledge Check 02 What is the cost per equivalent unit for conversion? $1.50 $1.67 O$2.20 O$2.25
Brining Department Equivalent units of production Costs...
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