Homework Answers
Equivalent units (gallons):
a. Material = 36000*50% + (210000-36000)*100% + (36000+245000-210000)*19% = 205490 units
b. Conversion cost = 36000*71% + (210000-36000)*100% + (36000+245000-210000)*9% = 205950 units
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Exercise 8-19 (Algo) Compute Equivalent Units: FIFO Method (LO 8-1, 5) Conlon Chemicals manufactures paint thinner. Inf...
Exercise 3.19 (Algo) Compute Equivalent Units: FIFO Method (LO 8-1, 5)
Exercise 3.19 (Algo) Compute Equivalent Units: FIFO Method (LO 8-1, 5) Conlon Chemicals manufactures paint thinner Information on the work in process follows: • Beginning inventory. 42.000 partially complete gallons • Transferred out, 207000 gallons • Ending Inventory materials are 19 percent complete conversion costs are 8 percent complete • Started this month. 241.000 gallons. Assume that beginning inventory is 50 percent complete with respect to materials and 30 percent complete with respect to conversion costs Required a Compute the equivalent units for materials using FIFO b. Compute the...
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: Beginning inventory, 36,000 partially...
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: Beginning inventory, 36,000 partially complete gallons. Transferred out, 206,000 gallons. Ending inventory (materials are 21 percent complete; conversion costs are 12 percent complete). Started this month, 240,000 gallons. Assume that beginning inventory is 50 percent complete with respect to materials and 31 percent complete with respect to conversion costs. Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using...
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: • Beginning inventory, 44,000...
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: • Beginning inventory, 44,000 partially complete gallons. • Transferred out, 208,000 gallons. • Ending inventory (materials are 22 percent complete; conversion costs are 8 percent complete). • Started this month, 237,000 gallons. Assume that beginning inventory is 50 percent complete with respect to materials and 28 percent complete with respect to conversion costs. Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units...
1. Conlon Chemicals manufactures paint thinner. Information on the work in process follows: Beginning inventory, 41,000...
1. Conlon Chemicals manufactures paint thinner. Information on the work in process follows: Beginning inventory, 41,000 partially complete gallons. Transferred out, 211,000 gallons. Ending inventory (materials are 21 percent complete; conversion costs are 10 percent complete). Started this month, 241,000 gallons. Assume that beginning inventory is 50 percent complete with respect to materials and 31 percent complete with respect to conversion costs. Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs...
Conlon Chemicals manufactures paint thinner. Information on the work in process follows
Conlon Chemicals manufactures paint thinner. Information on the work in process follows:- Beginning inventory, 42,600 partially complete gallons.- Transferred out, 214,400 gallons.- Ending inventory (materials are 19 percent complete; conversion costs are 9 percent complete).- Started this month, 235,200 gallons.Required:a. Compute the equivalent units for materials using the weighted-average method.b. Compute the equivalent units for conversion costs using the weighted-average method.
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: Beginning inventory, 42,200 partially...
Conlon Chemicals manufactures paint thinner. Information on the
work in process follows: Beginning inventory, 42,200 partially
complete gallons. Transferred out, 212,400 gallons. Ending
inventory (materials are 20 percent complete; conversion costs are
11 percent complete). Started this month, 242,700 gallons.
Required: a. Compute the equivalent units for materials using the
weighted-average method. b. Compute the equivalent units for
conversion costs using the weighted-average method.
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: Beginning inventory, 42,200 partially...
Conlon Chemicals manufactures paint thinner. Information on the work in process follows Beginning inventory, 39,000 partially...
Conlon Chemicals manufactures paint thinner. Information on the work in process follows Beginning inventory, 39,000 partially complete gallons. Transferred out, 213,600 gallons Ending inventory (materials are 19 percent complete; conversion costs are 11 percent complete) Started this month, 242,600 gallons. a. Compute the equivalent units for materials using the weighted-average method. Equivalent units (gallons) b. Compute the equivalent units for conversion costs using the weighted-average method Equivalent units (gallons)
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: • Beginning inventory, 39,900...
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: • Beginning inventory, 39,900 partially complete gallons. • Transferred out, 210,800 gallons. • Ending inventory (materials are 18 percent complete; conversion costs are 8 percent complete). • Started this month, 236,400 gallons. Required: a. Compute the equivalent units for materials using the weighted average method. b. Compute the equivalent units for conversion costs using the weighted average method. Equivalent Units (gallons) Materials Conversion costs b.
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes...
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September: All materials are added at the beginning of the process. Beginning work in process had 81,400 units, 30 percent complete with respect to conversion costs. Ending work in process had 12,100 units, 25 percent complete with respect to conversion costs. Started in process, 110,000 units. Required: 1....
Exercise 4A-9 Equivalent Units; Equivalent Units of Production; Assigning Costs-FIFO Method [LO4-6, LO4-7, LO4-8] Jarvene Corporation...
Exercise 4A-9 Equivalent Units; Equivalent Units of Production; Assigning Costs-FIFO Method [LO4-6, LO4-7, LO4-8] Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company’s processing departments: Units in beginning inventory 430 Units started into production 4,330 Units in ending inventory 270 Units transferred to the next department 4,490 Materials Conversion Percentage completion of beginning inventory 60 % 40 % Percentage completion of ending...
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: • Beginning inventory, 44,000 partially complete gallons. • Transferred out, 208,000 gallons. • Ending inventory (materials are 22 percent complete; conversion costs are 8 percent complete). • Started this month, 237,000 gallons. Assume that beginning inventory is 50 percent complete with respect to materials and 28 percent complete with respect to conversion costs. Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units...
Conlon Chemicals manufactures paint thinner. Information on the
work in process follows: Beginning inventory, 42,200 partially
complete gallons. Transferred out, 212,400 gallons. Ending
inventory (materials are 20 percent complete; conversion costs are
11 percent complete). Started this month, 242,700 gallons.
Required: a. Compute the equivalent units for materials using the
weighted-average method. b. Compute the equivalent units for
conversion costs using the weighted-average method.
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: Beginning inventory, 42,200 partially...
Conlon Chemicals manufactures paint thinner. Information on the work in process follows Beginning inventory, 39,000 partially complete gallons. Transferred out, 213,600 gallons Ending inventory (materials are 19 percent complete; conversion costs are 11 percent complete) Started this month, 242,600 gallons. a. Compute the equivalent units for materials using the weighted-average method. Equivalent units (gallons) b. Compute the equivalent units for conversion costs using the weighted-average method Equivalent units (gallons)
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: • Beginning inventory, 39,900 partially complete gallons. • Transferred out, 210,800 gallons. • Ending inventory (materials are 18 percent complete; conversion costs are 8 percent complete). • Started this month, 236,400 gallons. Required: a. Compute the equivalent units for materials using the weighted average method. b. Compute the equivalent units for conversion costs using the weighted average method. Equivalent Units (gallons) Materials Conversion costs b.
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