a) | Units completed and transferred out = Beginning units+started during the year - Ending units | |||||||||
1500 Units | =300+1700-Ending Units | |||||||||
Ending Units = | 500 Units | |||||||||
Equivalet Units = (1500 units *100% ) + (500 unts *60%) | ||||||||||
=1800 Units | ||||||||||
b) | Cost Per Equivalent Unit | |||||||||
= Total Cost / Equivalent Units | ||||||||||
=$115200/1800 | ||||||||||
=$64 per unit | ||||||||||
c) | Cost Allocation | |||||||||
Finished Product = 1500 Units *64 per unit =$96000 | ||||||||||
Ending WIP = 500 units *60%*64 per unit = $19200 | ||||||||||
Total Cost = $96000+19200 = $115200 | ||||||||||
Campbell Company had 300 units of product in work in process inventory at the beginning of the period. It started...
Campbell Company had 240 units of product in its work in process inventory at the beginning of the period and started 1,700 additional units during the period. At the end of the period, 780 units were in work in process inventory. The ending work in process inventory was estimated to be 60 percent complete. The cost of work in process inventory at the beginning of the period was $6,540 and $19,508 of product costs was added during the period. Required...
Solomon Company had 100 units of product in work in process inventory at the beginning of the period. It started 1,300 units during the period and transferred 1,200 units to finished goods inventory. The ending work in process inventory was estimated to be 7O percent complete. Cost data for the period follow Product Costs Beginning balance Added during periocd $31,640 56,800 $88,440 Total Required a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent...
Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information: Costs Units 37,000 $ 40,000 87,000 $127,000 70,000 Beginning work in process (28% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (51% complete) Curren period costs Direct materials Conversion cost Total current period costs ? 73,000...
Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information: Costs Units 48,000 $ 37,000 100,000 $137,000 84,000 Beginning work in process (26% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (51% complete) Current period costs Direct materials Conversion cost Total current period costs 76,000 $...
Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information: Costs Units 43,000 $ 45,000 86,000 $131,000 Beginning work in process (28% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (55% complete) Current period costs Direct materials Conversion cost Total current period costs 67,000 ? 73,000...
15 Campbell Manufacturing started in 2018 with the following account balances: Cash $5,700 5,120 6, 000 2,200 Common stock Retained earnings Raw materials inventory Work in process inventory Finished goods inventory (400 units $5.90 each) 860 2,360 Transactions during 2018 1. Purchased $2,890 of raw materials with cash. 2. Transferred $3,770 of raw materials to the production department. 3. Incurred and paid cash for 180 hours of direct labor$15.20 per hour 4. Applied overhead costs to the Work in Process...
PLEASE USE SPREADSHEET PROVIDED AS A GUIDE FOR YOUR ANSWER. Thank you Molton Company had 300 units of product in work in process inventory at the beginning of the period. It started 1,500 units during the period and transferred 1,200 units to finished goods inventory. The ending work in process inventory was estimated to be 70 percent complete. Cost data for the period follow: Product Costs $28,200 150,000 $178,200 Beginning balance Added during period Total Required Prepare a cost of...
Required information [The following information applies to the questions displayed below.) Saddleback Company makes camping lanterns using a single production process. All direct materials are added at the beginning of the manufacturing process. Information for the month of March follows: Costs Units 127,800 $ 182,000 334,000 $ 516,000 Beginning work in process (30% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work...
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Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information: Units Costs Beginning work in process (21% complete) 30,000 Direct materials $ 33,000 Conversion cost 86,000 Total cost of beginning work in process $ 119,000 Number of units started 77,000 Number of units completed and transferred to finished goods ? Ending work in process (50% complete) 87,000 Current period costs Direct materials $ 97,000 Conversion cost 151,000...