Use weighted average method
ZMT Books is a publishing company with 2 processes, the printing and binding departments. After pages are printed in the printing department, the printed pages are transferred to the binding department where the pages are bound into finished books. In the binding process, direct materials are added when the book is 80% complete and conversion costs are added uniformly throughout the process. The following information is for the binding department for the past month. Beginning works in process in the binding department consists of 900 books that are 40% complete with transferred in costs of $32,775 and conversion costs of $15,000. During the previous month the company transferred in 2,700 books into the binding process from the printing process with a cost of $144,000. At the end of the month there were 600 books that were 60% complete in the ending works in process for the binding department. During the month, the binding department incurred direct material costs of $26.700 and conversion costs of $69,000. How much cost is transferred out of the binding process? How much cost is left in ending works in process of the binding department?
Use weighted average method
Use weighted average method ZMT Books is a publishing company with 2 processes, the printing and...
Requested Review Problems ZMT Books is a publishing company with 2 processes, the printing and binding departments. After pages are printed in the printing department, the printed pages are transferred to the binding department where the pages are bound into finished books. In the binding process, direct materials are added when the book is 80% complete and conversion costs are added uniformly throughout the process. The following information is for the binding department for the past month. Beginning works in...
The Fields Company has two manufacturing departments, forming and painting. The company uses a weighted-average method of process costing. At the beginning of the month, the forming department has 33,000 units in inventory, 65% complete as to materials and 35% complete as to conversion costs. The beginning inventory cost of $76,100 consisted of $54,400 of direct materials costs and $21,700 of conversion costs. During the month, the forming department started 460,000 units. At the end of the month, the forming...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method of process costing. At the beginning of the month, the forming department has 26.000 units in inventory. 75% complete as to materials and 25% complete as to conversion costs. The beginning inventory cost of $63,100 consisted of $46,600 of direct materials costs and $16.500 of conversion costs. During the month, the forming department started 327,000 units. At the end of the month, the forming...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method of process costing. At the beginning of the month, the forming department has 30,000 units in inventory, 65% complete as to materials and 35% complete as to conversion costs. The beginning inventory cost of $61,000 consisted of $45.000 of direct materials costs and $16,000 of conversion costs. During the month, the forming department started 300,000 units. At the end of the month, the forming...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method of process costing. At the beginning of the month, the forming department has 37,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $84,100 consisted of $59,200 of direct materials costs and $24,900 of conversion costs. During the month, the forming department started 540,000 units. At the end of the month, the forming...
The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of process costing. At the beginning of the month, the forming department has 27,000 units in inventory, 65% complete as to materials and 35% complete as to conversion costs. The beginning inventory cost of $66,100 consisted of $48,400 of direct materials costs and $17,700 of conversion costs. During the month, the forming department started 360,000 units. At the end of the month, the forming...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of process costing. At the beginning of the month, the forming department has 27,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $63,200 consisted of $47,200 of direct materials costs and $16,000 of conversion costs. During the month, the forming department started 339,000 units. At the end of the month, the forming department...
Calculate Equivalent Units, Unit Costs, and Transferred Costs - Weighted Average Method Monroe Company processes a food seasoning powder through its Compounding and Packaging departments. In yhe Compounding Department, direct materials are added at the beginning of the process, and direct labor and manufacturing overhead are incurred evenly throughout the process. Monroe uses the weighted average method. Costs in the Compounding Department can be summarized as follows: At August 31, 2019, 3,00 units were in process, 30% complete with respect...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method of process costing. At the beginning of the month, the forming department has 28.000 units in inventory, 70% complete as to materials and 30% complete as to conversion costs. The beginning inventory cost of $67,100 consisted of $49,000 of direct materials costs and $18,100 of conversion costs. During the month, the forming department started 370,000 units. At the end of the month, the forming...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of process costing. At the beginning of the month, the forming department has 28,000 units in inventory, 70% complete as to materials and 30% complete as to conversion costs. The beginning inventory cost of $67,100 consisted of $49,000 of direct materials costs and $18,100 of conversion costs. During the month, the forming department started 370,000 units. At the end of the month, the forming department...