The Assembly Department uses a process cost accounting system. The department adds materials and incurs conversion...
The Assembly Department uses a process cost accounting system. The department adds materials and incurs conversion costs uniformly throughout the process. During May, $200,000 of materials costs and $95,000 in conversion costs were charged to the department. The beginning Work in Process inventory was $63,000 on May 1, comprised of $40,000 of materials costs and $23,000 of conversion costs. The company employs the FIFO method of process costing. Other data for the month of May are as follows: Beginning Work in Process inventory, 5/1 25,000 units (40% complete) Units completed and transferred out 50,000 units Ending Work in Process inventory, 5/31 30,000 units (30% complete) Fill in the blanks below based on the information above: A. How many physical units have to be accounted for in May? [80000] units How we get the 55,000 for Units Started in Process???
Homework Answers
| Units completed and transferred out | 50000 |
| Add: Ending Work in Process inventory | 30000 |
| Less: Beginning Work in Process inventory | -25000 |
| Units Started in Process | 55000 |
| Physical units to be accounted for in May = 25000+55000 = 80000 | |
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The Assembly Department uses a process cost accounting system. The department adds materials and incurs conversion...
Coca-Cola uses a process cost accounting system and a weighted-average cost flow assumption. The department adds...
Coca-Cola uses a process cost accounting system and a weighted-average cost flow assumption. The department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During July, $190,000 of materials costs and $137,100 in conversion costs were charged to the department. The beginning work in process inventory was $93,000 on July 1, comprised of $80,000 of materials costs and $13,000 of conversion costs. (20 pts) Other data for the month of July are as...
A department adds materials at the beginning of the process and incurs conversion costs uniformly throughout...
A department adds materials at the beginning of the process and
incurs conversion costs uniformly throughout the process. For the
month of May, there was no beginning Work in Process; 45300 units
were completed and transferred out; and there were 14400 units in
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$95520 materials costs and $70110 conversion costs were charged to
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Ex. 169 The Assembly Department uses a process cost accounting system and a weighted average cost...
Ex. 169 The Assembly Department uses a process cost accounting system and a weighted average cost flow assumption. The department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During July, $190,000 of materials costs and $137,100 in conversion costs were charged to the department. The beginning work in process inventory was $93,000 on July 1, comprised of $80.000 of materials costs and $13,000 of conversion costs. Other data for the month of...
Ex. 169 The Assembly Department uses a process cost accounting system and a weighted average cost...
Ex. 169 The Assembly Department uses a process cost accounting system and a weighted average cost flow assumption. The department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During July, $190,000 of materials costs and $137,100 in conversion costs were charged to the department. The beginning work in process inventory was $93,000 on July 1, comprised of $80.000 of materials costs and $13,000 of conversion costs. Other data for the month of...
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A department adds all materials at the beginning of the process and incurs conversion costs uniformly...
A department adds all materials at the beginning of the process
and incurs conversion costs uniformly throughout the process. For
the month of July, there was no beginning work in process; 39800
units were completed and transferred out; and there were 20000
units in the ending work in process that were 30% complete. During
July, $173420 materials costs and $151140 conversion costs were
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The unit production costs for materials and conversion costs for
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Section 3 (20 points) The Assembly Department uses a process cost accounting system and a weighted...
Section 3 (20 points) The Assembly Department uses a process cost accounting system and a weighted average cost flow assumption. The department adds materials at the beginning of the process and me conversion costs uniformly throughout the process. During July $190,000 of materials costs and 137.100 in conversion costs were charged to the department. The beginning work in process mory was 593,000 on July 1. comprised of $80.000 of materials costs and $13,000 of conversion costs. Other data for the...
A department adds raw materials to a process at the beginning of the process and incurs...
A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 90,000 units were started into production in January; 70,000 units were transferred to finished goods; and there were 20,000 units that were 40% complete in the ending work in process inventory at the end of January. What were the equivalent units of...
A department adds raw materials to a process at the beginning of the process and incurs...
A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 20,000 units were started into production in January and there were 5,000 units that were 40% complete in the ending work in process inventory at the end of January.. What were the equivalent units of production for materials for the month of...
A department adds raw materials to a process at the beginning of the process and incurs...
A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 90,000 units were started into production in January; and there were 20,000 units that were 40% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for materials for the month of...
A department adds materials at the beginning of the process and
incurs conversion costs uniformly throughout the process. For the
month of May, there was no beginning Work in Process; 45300 units
were completed and transferred out; and there were 14400 units in
the ending Work in Process that were 10% complete. During May,
$95520 materials costs and $70110 conversion costs were charged to
the department. How much are unit production costs for materials
and conversion costs for May if...
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A department adds all materials at the beginning of the process
and incurs conversion costs uniformly throughout the process. For
the month of July, there was no beginning work in process; 39800
units were completed and transferred out; and there were 20000
units in the ending work in process that were 30% complete. During
July, $173420 materials costs and $151140 conversion costs were
charged to the department.
The unit production costs for materials and conversion costs for
July were
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Section 3 (20 points) The Assembly Department uses a process cost accounting system and a weighted average cost flow assumption. The department adds materials at the beginning of the process and me conversion costs uniformly throughout the process. During July $190,000 of materials costs and 137.100 in conversion costs were charged to the department. The beginning work in process mory was 593,000 on July 1. comprised of $80.000 of materials costs and $13,000 of conversion costs. Other data for the...
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