ed K ces ! Required information [The following information applies to the questions displayed below.] Oasis Company adds all materials at the beginning of its manufacturing process. Production information for selected months of the year follows: Required: 1. Reconcile the number of physical units to find the missing amounts. 2. Calculate the number of equivalent units for both materials and conversion for each month using the weighted-average method. Complete this question by entering your answers in the tabs below. Required- d1 Reconcile the number of physical units to find the missing amounts. Beginning Work in Process Month February June Required 2 September December Units 1,000 4,900 3,700 Conversion Complete (percent) 49 - 70 26 37 Units Units Started Transferred Out 19,200 23,400 25,700 22,100 25,400 21,200 Ending Work in Process Units 6,800 3,700 2,900 Conversion Complete (percent) 30 45 59 72

ed K ces ! Required information [The following information applies to the questions displayed below.] Oasis Company adds all materials at the beginning of its manufacturing process. Production information for selected months of the year follows: Required: 1. Reconcile the number of physical units to find the missing amounts. 2. Calculate the number of equivalent units for both materials and conversion for each month using the weighted-average method. Complete this question by entering your answers in the tabs below. Required- d1 Reconcile the number of physical units to find the missing amounts. Beginning Work in Process Month February June Required 2 September December Units 1,000 4,900 3,700 Conversion Complete (percent) 49 - 70 26 37 Units Units Started Transferred Out 19,200 23,400 25,700 22,100 25,400 21,200 Ending Work in Process Units 6,800 3,700 2,900 Conversion Complete (percent) 30 45 59 72

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 17M

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Required: 1. Reconcile the number of physical units to find the missing amounts. 2. Calculate the number of equivalent units for both materials and conversion for each month using the weighted-average method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Reconcile the number of physical units to find the missing amounts. Beginning Work in Process Month February June September December Units 1,300 4,800 2,900 Conversion Complete (percent) 44 68 27 40 • Units Units Started Transferred Out 19,000 23,400 25,500 22,600 Required 1 25,100 21,300 Ending Work in Process Units 7,500) 3,400 3,000 Required 2 > Conversion Complete (percent) 24 36 51 79
Required: 1. Tabulate the conversion costs of each operation, the total units produced, and the conversion costs per unit for November. 2. Calculate the total costs and the cost per unit of each style of box produced in November. Be sure to account for all the total costs. 3. Prepare summary journal entries for each operation. For simplicity, assume that all direct materials are introduced at the beginning of the cutting operation. Also, assume that all units were transferred to finished goods when completed and that there was no beginning or ending work in process. Prepare one summary entry for all conversion costs incurred. but prepare a separate entry for allocating conversion costs in each operation.
Oasis Company adds all materials at the beginning of itsmanufacturing process. Production information for selected monthsof the year follows:Required:1. Reconcile the number of physical units to find the missing amounts. Determinethe number of units started and completed each month. 2. Calculate the number of equivalent units for both materials and conversion foreach month using the FIFO method. Requi Required:1. Reconcile the number of physical units to find the missing amounts. Determinethe number of units started and completed each month. 2. Calculate the number of equivalent units for both materials and conversion foreach month using the FIFO method. Required 1 Required 2  Month materials conversion February June September December reconcile the number of physicial units to find the missing amounts. determine the number of units started and completed each month…
Stone Company produces carrying cases for CDs. It has compiled the following information for the month of June: Physical Units Percent Complete for Conversion Beginning work in process 55,000 61% Ending work in process 36,000 71 Stone adds all materials at the beginning of its manufacturing process. During the month, it started 96,000 units.Required:1. Using the weighted-average method, reconcile the number of physical units.2. Using the weighted-average method, calculate the number of equivalent units.
. In Ramirez Company, materials are entered at the beginning of each process. Work in process inventories, with the percentage of work done on conversion costs, and production data for its Sterilizing Department in selected months during 2020 are as follows. Beginning Work in Process Month Beginning Work in Process Units Transferred Out Units % Complete as to Conversion Cost September 0 2,000 7,000 60 December 0 3,000 12,000 30 Compute the equivalent units of production for (1) materials and (2) conversion costs for each month.
Stone Company produces carrying cases for CDs. It has compiled the following information for the month of June: Physical Units Percent Complete for Conversion Beginning work in process 68,000 55% Ending work in process 91,000 70% Stone adds all materials at the beginning of its manufacturing process. During the month, it started 178,000 units. Required: Using the FIFO method, reconcile the number of physical units. Using the FIFO method, calculate the number of equivalent units.
Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 11,600 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Beginning work in process inventory Units started this period. Units completed and transferred out Ending work in process inventory Cost of beginning work in process. Direct materials Conversion Costs added this month Direct materials Conversion Units Cost per Equivalent Unit of Production 2,500 11,600 Total costs + Equivalent units of production Cost per equivalent unit of production 9,500 4,600 Percent Complete for Direct Materials. 60% $ 1,059 589 QS 16-11 (Algo) Weighted average: Cost per EUP LO P1 Direct Materials 19,056 17,187 85% Percent Complete for…
Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 10,500 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Cost of beginning work in process Direct materials Conversion Costs added this month Direct materials Conversion Units 2,500 10,500 9,500 3,500 Percent Complete for Direct Materials 60% $ 1,427 510 12,488 15,840 90% Percent Complete for Conversion 40% $ 1,937 28,328 40% QS 16-10 (Algo) Weighted average: Equivalent units of production LO P1 Complete this question by entering your answers in the tabs below. Required: Calculate the Assembly…
Required information [The following information applies to the questions displayed below.] Silver Company manufactures kites and has the following information available for the month of April: Work in process, April 1 (100% complete for materials, 40% for conversion) Direct materials Conversion cost Number of units started April costs Direct materials Conversion cost Work in process, April 30 (100% complete for materials, 20% for conversion) 3. Calculate the cost per equivalent unit. 4. Reconcile the total cost of work in process. 1. Reconcile the number of physical units worked on during the period. 2. Calculate the number of equivalent units. Required 1 Required: Using the weighted-average method, complete each of the following steps: Required 2 Beginning Units Units Started Total Units Reconcile the number of physical units worked on during the period. Physical Units Complete this question by entering your answers in the tabs below. Required 3 Required 4 Physical Units 0 Units…
Compute the equivalent units of production for (1) materials and (2) conversion costs for each month. Materials Conversion Costs January March May July Given: In Shady Company, materials are entered at the beginning of each process. Work in process inventories, with the percentage of work done on conversion costs, and production data for its Sterilizing Department in selected months during 2020 are as follows. BeginningWork in Process EndingWork in Process Month Units ConversionCost% UnitsTransferred Out Units ConversionCost% January 0 — 11,000 2,000 60 March 0 — 12,000 3,000 30 May 0 — 14,000 7,000 80 July 0 — 10,000 1,500 40
Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 11,200 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Cost of beginning work in process Direct materials Conversion Costs added this month Direct materials Conversion Cost per Equivalent Unit of Production Costs of beginning work in process Costs added this period Total costs + Equivalent units of production Cost per equivalent unit of production Units 2,500 11, 200 9,500 4,200 $ Direct Materials $ 1,682 17,608 19,290 $ 1,682 1,024 Percent Complete for Direct Materials 60% 17,608 20,496 QS…
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method and it reports the following unit data for the Forming department. Units completed in the forming department are transferred to the painting department. Direct Materials Percent Complete 60% Conversion Percent Complete 40% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 30,000 400,000 390,000 40,000 85% 35% Production cost information for the forming department follows. Beginning work in process Direct materials $ 50,800 19,300 $ 70,100 Conversion Costs added this period Direct materials 1,539,200 1,047,260 2,586,460 $ 2,656,560 Conversion Total costs to account for Exercise 16-6 (Algo) Weighted average: Cost per EUP and costs assigned to…