Homework Answers
| Solution a | ||
| Beginning WIP | 1,100 | |
| Add: Started in production | 9,800 | |
| Less: Ending inventory | (2,100) | |
| Units transferred out | 8,800 | |
| Hence option D is correct | ||
| Solution B | ||
| The cost assigned to ending inventory | $ 20,412 | |
| Cost per unit-Material | $ 5.00 | |
| Ending inventory | 2,100 | |
| Completion status-material | 90% | |
| Equivalent units-Material | 1,890 | 2100*90% |
| Material cost in ending inventory | $ 9,450 | 1890*5 |
| conversion cost in ending inventory | Total cost - Material cost | |
| conversion cost in ending inventory | 20412-9450 | |
| conversion cost in ending inventory | $ 10,962.00 | |
| Cost per unit-conversion cost | $ 8.70 | |
| Ending inventory-equivelent units-conversion | Conversion cost/cost per units | |
| Ending inventory-equivalent units-conversion | 10962/8.70 | |
| Ending inventory-equivalent units-conversion | 1,260.00 | |
| Ending inventory-actual units-conversion | 2,100.00 | |
| Completion status-conversion | 1260/2100 | |
| Completion status-conversion | 60% | |
| Hence option C is correct | ||
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Adams Company uses the weighted average method in its process-costing system. Operating department for the last mon...
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Company uses the weighted average method in its process-costing system. Operating data for the first processing department for the last month appear below pertaining to the physical flow of units, direct materials (DM), and conversion costs (CC) 9 of % of completion completion: Units DM CC Beginning WIP inventory 1.100806 50% Started into production during the month 9,800 Ending WIP inventory 2,100 90% ? 3 How many units were transferred out of the first department during the month? 13,000 9,800...
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What were the equivalent units for conversion costs in the
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What were the equivalent units for conversion costs in the Painting
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the month to begin processing in the Assembly Department. During
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What were the equivalent units for conversion costs in the
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department for the month of June appear below:
According to the company's records, the conversion cost in
beginning work in process inventory was $68,064 at the beginning of
June. Additional conversion costs of $585,324 were incurred in the
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4. Narver Corporation uses the weighted-average method in its
process costing system. Operating data for the Lubricating
Department for the month of October appear below:
What were the equivalent units for conversion costs in the
Lubricating Department for October?
___________________________________________________________________________________
5. Baker Corporation uses the weighted-average method in its
process costing system. The Assembly Department started the month
with 8,000 units in its beginning work in process inventory that
were 90% complete with respect to conversion costs. An additional
95,000...
24. Jawson Corporation uses the weighted-average method in its
process costing system. Operating data for the Painting Department
for the month of April appear below:
What were the equivalent units for conversion costs in the Painting
Department for April?
Percent Complete with Respect to Conversion 10% Units 6,300 65,600 4,600 Beginning work in process inventory ................ Transferred in from the prior department during April........ Ending work in process inventory.................. 70%
Lanjan Corporation uses the weighted average method in its process costing system. Operating data for the first processing department for the month of June appear below: Percent Complete with Respect to Conversion 50% Beginning work in process inventory Started into production during June Ending work in process inventory Units 14,000 76,000 20,000 10% According to the company's records, the conversion cost in beginning work in process inventory was $92,218 at the beginning of June. Additional conversion costs of $571,618 were...
2. Fabian Corporation uses the weighted-average method in its
process costing system. The Assembly Department started the month
with 9,000 units in its beginning work in process inventory that
were 70% complete with respect to conversion costs. An additional
90,000 units were transferred in from the prior department during
the month to begin processing in the Assembly Department. During
the month 87,000 units were completed in the Assembly Department
and transferred to the next processing department. There were
12,000 units...
25. Narver Corporation uses the weighted-average method in its
process costing system. Operating data for the Lubricating
Department for the month of October appear below:
What were the equivalent units for conversion costs in the
Lubricating Department for October?
Percent Complete with Respect to Conversion 60% Beginning work in process inventory... Transferred in from the prior department during October Completed and transferred to the next department during October..... Ending work in process inventory.. Units 6,600 40,100 37,100 9,600 80%
6. Larner Corporation uses the weighted-average method in its
process costing system. Operating data for the first processing
department for the month of June appear below:
According to the company's records, the conversion cost in
beginning work in process inventory was $68,064 at the beginning of
June. Additional conversion costs of $585,324 were incurred in the
department during the month.
What was the cost per equivalent unit for conversion costs for the
month? (Round off to three decimal places.)
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