Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 5, Problem 8EA
How many units must have been completed and transferred if beginning inventory was 75,000 units, ending inventory was 72,000 units, and 290,000 units were started?
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If 30,000 units are started into production and 12,000 units are in process at the end of the period, how many units were completed and transferred out?
How many units must have been completed and transferred if beginning inventory was 75,000 units, ending inventory was 72,000 units, and
290,000 units were started?
PLEASE NOTE: For units, use commas as needed (i.e. 1,234). Costs per unit are rounded to two decimal places and shown with "$" and commas
as needed (i.e. $1,234.56). All other dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345).
Beginning inventory
Units started
Total units to account for
4
Units completed and transferred out
293,000
Ending inventory
If 30,000 units are started into production and 12,000 units are in process at the end of the period, how many units were completed and transferred out?
If 15,000 units are transferred out of a department and there are 3,000 units still in process at the end of a period, the number of units that were started into production during the period is ______.
Chapter 5 Solutions
Principles of Accounting Volume 2
Ch. 5 - Which of the following production characteristics...Ch. 5 - A process costing system Is most likely used by...Ch. 5 - Which of the following is a prime cost? A. direct...Ch. 5 - Which of the following is a conversion cost? A....Ch. 5 - During production, how are the costs in process...Ch. 5 - Which is nor needed to compute equivalent units of...Ch. 5 - What is the cost of direct labor f the conversion...Ch. 5 - What is the conversion cost to manufacture...Ch. 5 - Which of the following lists contains only...Ch. 5 - Direct material costs $3 per unit, direct labor...
Ch. 5 - Beginning inventory and direct material cost added...Ch. 5 - The initial processing department had a beginning...Ch. 5 - There were 1,000 units in ending inventory after...Ch. 5 - The costs to be accounted for consist of which of...Ch. 5 - Which of the following is the step in which...Ch. 5 - The journal entry to record the $500 of work in...Ch. 5 - Assigning indirect costs to departments is...Ch. 5 - In a process costing system, which account shows...Ch. 5 - In a process cost system, factory depreciation...Ch. 5 - Explain how process costing differs from job order...Ch. 5 - Would a pharmaceutical manufacturer use process or...Ch. 5 - Which costs are assigned using the...Ch. 5 - What is the primary purpose of process costing?Ch. 5 - What is the difference between prime costs and...Ch. 5 - Explain conversion costs using an example.Ch. 5 - Why are there conversion costs in both job order...Ch. 5 - What are equivalent units of production, and how...Ch. 5 - How can there be a different number of equivalent...Ch. 5 - Why is the number of equivalent units for...Ch. 5 - What are the four steps involved in determining...Ch. 5 - What is the weighted-average method for computing...Ch. 5 - How does process costing treat the costs...Ch. 5 - Why does each department have its own work in...Ch. 5 - March each term with its description.Ch. 5 - How is manufacturing overhead handled in a process...Ch. 5 - How are predetermined overhead rates used in...Ch. 5 - How many units were started into production in a...Ch. 5 - A company started a new product, and in the first...Ch. 5 - Given the following information, determine the...Ch. 5 - There were 1,700 units in beginning inventory that...Ch. 5 - A company has 1,500 units in ending work in...Ch. 5 - There were 2,400 units in ending work in process...Ch. 5 - How many units must be in ending inventory if...Ch. 5 - How many units must have been completed and...Ch. 5 - Using the weighted-average method, compute the...Ch. 5 - Using the weighted-average method, compute the...Ch. 5 - Mazomanie Farm completed 20,000 units during the...Ch. 5 - What are the total costs to account for if a...Ch. 5 - A company started the month with 8,329 units in...Ch. 5 - A production department within a company received...Ch. 5 - Production data show 35,920 units were transferred...Ch. 5 - Overhead is assigned to the manufacturing...Ch. 5 - Prepare the journal entry to record the factory...Ch. 5 - Prepare the journal entry to record the transfer...Ch. 5 - Prepare the journal entry to record the sale of...Ch. 5 - Given the following information, determine the...Ch. 5 - There were 2.000 units in beginning inventory that...Ch. 5 - A company has 100 units in ending work in process...Ch. 5 - There were 1,500 units in ending work in process...Ch. 5 - Using the weighted-average method, compute the...Ch. 5 - What are the total costs to account for if a...Ch. 5 - A company started the month with 4,519 units in...Ch. 5 - A production department within a company received...Ch. 5 - Production data show 15,200 units were transferred...Ch. 5 - Overhead is assigned to the manufacturing...Ch. 5 - Prepare the journal entry to record the factory...Ch. 5 - Prepare the journal entry to record the transfer...Ch. 5 - Prepare the journal entry to record the sale of...Ch. 5 - The following product Costs are available for...Ch. 5 - The following product costs are available for...Ch. 5 - Pant Risers manufactures bands for self-dressing...Ch. 5 - During March, the following costs were charged to...Ch. 5 - Materials are added at the beginning of a...Ch. 5 - Narwhal Swimwear has a beginning work in process...Ch. 5 - The following data show the units in beginning...Ch. 5 - The finishing department started the month with...Ch. 5 - The packaging department began the month with 500...Ch. 5 - Production information shows these costs and units...Ch. 5 - Given the following information, prepare a...Ch. 5 - Complete this production cost report:Ch. 5 - Selected information from Skylar Studios shows the...Ch. 5 - Loanstar had 100 units in beginning inventory...Ch. 5 - The following product costs are available for...Ch. 5 - The following product costs are available for...Ch. 5 - Vexar manufactures nails. Manufacturing is a...Ch. 5 - During March, the following costs were charged to...Ch. 5 - Ardt-Barger has a beginning work in process...Ch. 5 - The following data show the units in beginning...Ch. 5 - The following data show the units in beginning...Ch. 5 - The following data show the units in beginning...Ch. 5 - The finishing department started the month with...Ch. 5 - The packaging department began the month with 750...Ch. 5 - Production information shows these costs and units...Ch. 5 - Given the following information, prepare a...Ch. 5 - Selected information from Hernandez Corporation...Ch. 5 - Rexar had 1,000 units in beginning inventory...Ch. 5 - How would process costing exist in a service...Ch. 5 - Why are labor and manufacturing overhead grouped...Ch. 5 - How is process costing for a single manufacturing...Ch. 5 - What is different between the journal entries for...
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- How many units must be in ending inventory if beginning inventory was 15,000 units, 55,000 Units were started, and 57,000 units were completed and transferred out?arrow_forwardUsing the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units, 55,000 units were started in production, and 57,000 units were completed and transferred to finished goods inventory. For this process, materials are 70% complete and the Units are 30% complete with respect to conversion.arrow_forwardUsing the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units; 55,000 units were started in production; and 57,000 units were completed and transferred to finished goods inventory. For this process, materials are added at the beginning of the process, and the units are 35% complete with respect to conversion.arrow_forward
- The initial processing department had a beginning inventory of 750 units and an ending inventory of 1,350 units, and it started 9,500 units into production. How many were transferred out to the next department? 750 1,350 8,900 10,250arrow_forwardIf 15,000 units are transferred out of a department and there are 3,000 units still in process at the end of a period, the number of units that were started into production during the period is ______.arrow_forwardIf Department 1 had put 95,000 units into process during the period and had ending units in process of 21,000 units. What is the number of units transferred to finished goods inventory if Department 2’s ending units in process are 12,000? a. 104,000 b. 83,000 c. 74,000 d. 62,000arrow_forward
- Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 19,000 units; 52,000 units were started in production; and 54,000 units were completed and transferred to finished goods inventory. For this process, materials are added at the beginning of the process, and the units are 35% complete with respect to conversion. Equivalent Units of Materials Equivalent Units of Conversionarrow_forwardUsing the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units; 57,000 units were started in production; and 64,000 units were completed and transferred to finished goods inventory. For this process, materials are added at the beginning of the process, and the units are 25% complete with respect to conversion. Equivalent Units of Materials fill in the blank 1 Equivalent Units of Conversion fill in the blank 2arrow_forwardAssume that 6,000 units were in beginning WIP inventory, 36,000 were started, 32,000 were completed, and 10,000 were in ending WIP inventory. Direct materials are added at the beginning of the process. What are the total equivalent units for direct materials?arrow_forward
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