Question

WileyPLUS C "Problem - 7A Owen Compan C Owen Company Manufactures A Not secure C edugen.wileyplus.com/edugen/Iti/main.uni Return to Blackboard Wiley PLUS g rinciples, 13e Heip LEuetem « ВАСK NEXT CALCULATOR PRINTER VVERSTON ASSIGNMENT RESOURCES Problem 21-7A a1-a3, b (Part Level Submission) Wiley Plus Chapter 21 Problem 21-2A a-e (Part mission) Bo pany manuracir s and tricycles. For both prodd re added M con process, and conversion costs are incurred uniformly. Company use metho ocompute equivalent TVideo) Problem 21-6A a-b (Part Percentage Complete Production Data-Bicycles Units 31A al-03, b Part Level Submission) | Work in process units, March 1. 200 80 % Units started into production 1.310 Review Score Work in process units, March 31 290 40 % Revlew Results by Study Objective Cost Data-Bicycles Work in process units, March 1 $19,030 Direct materials 49,780 Direct labor 26,200 Manufacturing overhead 30,248 Percentage Complete Production Data-Tricycles Units Work in process units, March 1 140 75 % Units started into production 1,000 Work in process units, March 31 60 25 % Cost Data-Tricycles Work in process units, March 1 $6,190 9:37 WileyPLUS C "Problem - 7A Owen Compan C Owen Company Manufactures A Not secure C edugen.wileyplus.com/edugen/Iti/main.uni Return to Blackboard WileyPLUS Hola LEvstam Announca ciples, 13e PRINTER VvERSION 4 ВАСK NEXT CALCULATOR ASSIGNMENT RESOURCES Cost Data-Tricycles Wiley Plus Chapter 21 Problem 21-2A a-e (Part mission) Work in process units, March 1 $6,190 Direct materials 0,000 TVideo) Direct labor 14,100 Problem 21-6A a-b (Part 19,560 Manufacturing overhead Part Level Submission) (a1) Review Score Review Results by Study Objective Your answer is partially correct. Try again. Calculate the equivalent units of production for materials and conversion costs for both the bicycles and the tricycles. Materials Conversion Costs Equivalent Units of bicycles 1,310 Equivalent Units of tricycles 1,000 Click if you would like to Show Work for this question: Open Show Wwork By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 1 of 15 used SAVE FOR LATER SUBMIT ANSWER (a2) 9:38 WileyPLUS C "Problem - 7A Owen Compan C Owen Company Manufactures YAccounting Help Please!! WIII be x X A Not secure C edugen.wileyplus.com/edugen/Iti/main.uni Return to Blackboard WileyPLUS unting Principles, 13e Help &Sute 4 ВАСK NEXT CALCULATOR PRINTER VVERSTON ASSIGNMENT RESOURCES Wiley Plus Chapter 21 Problem 21-2A a-e (Part mission) Attempts: 2 of 15 used TVideo) Problem 21-6A a-b (Part (a2) Calculate the unit costs of production for materials and conversion costs for both the bicycles and the tricycles 3127A a1-a3, b Part Level Submission) Conversion Costs Materials Review Score Unit costs of bicycles Review Results by Study Objective Unit costs of tricycles Open Show Work Click if you would like to Show Work for this question: By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 0 of 15 used SUBMIT ANSWER SAVE FOR LATER (a3) The parts of this question must be completed in order. This part will be available when you complete the part above. (b) The parts of this question must be completed in order. This part will be available when you complete the part above. 10:19

Answer 1

Bonita Company Bicycles Bonita Company Tricycles FIFO Method: FIFO Method: Equivalent Units Equivalent Units Conversion costs DM Conversion costs DM Whole units Units Whole units 200 Units Units Units Opening WIP 140 Opening WIP Started 1000 310 Started Total Units to account for Total Units account for 1510 1140 Opening WIP 200 20 40 Opening WIP 140 25 35 completed completed 94 200 Closing WIP 100 100 60 116 1510 1310 Total Units to account for ( EUP) 1000 Total Units account for (EUP) 1176 1140 990 Cost Information Cost Information Costs to account for: Costs account for: Materials Conversion Total Materials Conversion Total 6190 Op. WIP 19030 19030 Op. WIP 6190 the period Total costs to a unt for 49780 30000 Total costs to account for 75478 49780 30000 39850 69850 125258 Cost per EUP :- Cost per EUP : Cost be accounted for 49780 56448 106228 Cost to eaccounted for 30000 33660 63660 EUP EUP 1310 1176 1000 990 Cost per EUP 34 3s 48 86 Cost per EUP 30 64 Costs Accounted for: Conversion Costs Accounted for: Materials Total Materials Conversion Total Completed and tfd. Opening WIP Completed and tfd. Completed and tfd. Completed and tfd. Opening WIP Completed and tfd Completed and tfd. 19030 19030 0 6190 6190 1020 38 38760 1060 48. 50880 940+30 28200 975 34 33150 61350 89640 39340 67540 69910 108670 38760 28200 290 38 60 30 Cl, WIP 11020 116 48 5568 16588 Cl. WIP 1800 15 34 510 2310 Total costs accounted for 49780 75478 125258 Total costs accounted t 30000 39850 69850 Cost reconciliation schedule Cost reconciliation schedule Costs Accounted for: Costs Accounted for: Transferred out 108670 Transferred out 67540 closing WIP closing WIP 11020 Materials 1800 Materials Conversion costs 5568 510 16588 Conversion costs 2310 125258 Total costs Total costs 69850

Answer 1 Answer 2 Mat. CC Mat. CC Unit costs Bicycles Unit costs Tricycles 38 48 EUP Bicycles 1310 1176 30 34 EUP- Tricycles 1000 990 Answer 3 Bicycles Costs Accounted for: Transferred out 108670 closing WIP Materials 11020 Conversion costs Total costs 5568 16588 125258 Tricycles Costs Accounted for Transferred out closing WIP 67540 Materials 1800 Conversion costs 510 2310 Total costs 69850