Murray Chemical Company refines a variety of petrochemical products. These data are from the firm's Houston plant Work-in-process inventory, September 1 Direct materials gallons 50% completed 20% completed Conversion Units started in process during September Work-in-process inventory, September 30 Direct materials Conversion Required 1 Required 2 Required: 1. Compute the equivalent units of direct materials and conversion for the month of September using the weighted-average method. 2. Compute the equivalent units of direct materials and conversion for the month of September using the FIFO method. 4,760,000 Complete this question by entering your answers in the tabs below. Direct materials Conversion gallons gallons 40% completed 60% completed Equivalent Units 6,320,000 2,890,000 Compute the equivalent units of direct materials and conversion for the month of September using the weighted-average method. Required Required 2 >

Murray Chemical Company refines a variety of petrochemical products. These data are from the firm's Houston plant Work-in-process inventory, September 1 Direct materials gallons 50% completed 20% completed Conversion Units started in process during September Work-in-process inventory, September 30 Direct materials Conversion Required 1 Required 2 Required: 1. Compute the equivalent units of direct materials and conversion for the month of September using the weighted-average method. 2. Compute the equivalent units of direct materials and conversion for the month of September using the FIFO method. 4,760,000 Complete this question by entering your answers in the tabs below. Direct materials Conversion gallons gallons 40% completed 60% completed Equivalent Units 6,320,000 2,890,000 Compute the equivalent units of direct materials and conversion for the month of September using the weighted-average method. Required Required 2 >

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Description: Please do not give solution in image format thanku Murray Chemical Company refines a variety of petrochemical products. These data are from the firm's Houston plantWork-in-process inventory, September 1Direct materials4,760,000 gallons50% completed20

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 30E: Proteger Company manufactures insect repellant lotion. The Mixing Department, the first process...

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Murray Chemical Company refines a variety of petrochemical products. These data are from the firm’s Houston plant: Work-in-process inventory, September 1 4,930,000 gallons Direct materials 50% completed Conversion 20% completed Units started in process during September 6,060,000 gallons Work-in-process inventory, September 30 2,570,000 gallons Direct materials 40% completed Conversion 60% completed Required: 1. Compute the equivalent units of direct materials and conversion for the month of September using the weighted-average method. 2. Compute the equivalent units of direct materials and conversion for the month of September using the FIFO method.
Murray Chemical Company refines a variety of petrochemical products. These data are from the firm's Houston plant: Work-in-process inventory, September 1 Direct materials Conversion Units started in process during September Work-in-process inventory, September 30 Direct materials Conversion Required 1 Required 2 4,760,000 gallons 50% completed 20% completed Required: 1. Compute the equivalent units of direct materials and conversion for the month of September using the weighted-average method. 2. Compute the equivalent units of direct materials and conversion for the month of September using the FIFO method. Direct materials Conversion 6,320,000 2,890,000 Complete this question by entering your answers in the tabs below. Equivalent Units 40% 60% Required 1 gallons gallons completed completed Compute the equivalent units of direct materials and conversion for the month of September using the weighted-average method. Required 2 >
[The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for 875,840 $ 27,150 3,658 $ 30,800 552,450 323,390 5906,640 Direct Materials Conversion Percent Percent Units Complete Complete Beginning work in process inventory 2,500 100% 20% Units started this period 43,500 Completed and transferred out 43,000 Ending work in process inventory 3,000 100% без Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Unit Reconciliation Units to account for Total units to account for Units accounted for Total units accounted for Equivalent Units of Production (EUP) Equivalent units of production Cost per EUP Total costs -Equivalent units of production Cost per equivalent…
The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total ● Current costs Materials cost Conversion cost Total $ 64,500 43,500 $ 108,000 Materials are added at the beginning of the process. The following quantities have been recorded: Beginning inventory, 48,500 partially complete gallons, 30 percent complete with respect to conversion costs. • Units started in July, 88,500 gallons. Units transferred out in July, 98,500 gallons. Ending inventory, 38,500 gallons, 55 percent complete with respect to conversion costs. $ 205,000 455,000 $ 660,000 Cost of goods transferred out Ending inventory Required: Compute the cost of goods transferred out and the ending inventory for July using the FIFO method. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar.
The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs ● Materials cost Conversion cost Total $ 56,000 35,400 $ 91,400 $ 124,000 372, 600 $ 496,600 Materials are added at the beginning of the process. The following quantities have been recorded: Beginning inventory, 40,000 partially complete gallons, 25 percent complete with respect to conversion costs. Units started in July, 80,000 gallons. ● • Units transferred out in July, 90,000 gallons. Ending inventory, 30,000 gallons, 40 percent complete with respect to conversion costs. Required: Compute the cost of goods transferred out and the ending inventory for July using the weighted-average method.
The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory. Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total $ 63,500 42,500 $ 106,000 $ 195,000 445,000 $640,000 Materials are added at the beginning of the process. The following quantities have been recorded: Beginning inventory, 47,500 partially complete gallons, 20 percent complete with respect to conversion costs. • Units started in July, 87,500 gallons. • Units transferred out in July, 97,500 gallons. • Ending inventory, 37,500 gallons, 45 percent complete with respect to conversion costs. Required: Compute the cost of goods transferred out and the ending inventory for July using the FIFO method. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar. Cost of goods transferred out Ending inventory
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: • Beginning inventory, 37,000 partially complete gallons. • Transferred out, 215,000 gallons. • Ending inventory (materials are 19 percent complete; conversion costs are 11 percent complete). • Started this month, 238,000 gallons. Assume that beginning inventory is 50 percent complete with respect to materials and 30 percent complete with respect to conversion costs Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO.
Conlon Chemicals manufactures palnt thinner. Information on the work in process follows: • Beginning inventory, 38,900 partially complete gallons. • Transferred out, 212,400 gallons. • Ending inventory (materials are 21 percent complete; conversion costs are 10 percent complete). • Started this month, 240,400 gallons. Required: a. Compute the equivalent units for materials using the weighted-average method. b. Compute the equivalent units for conversion costs using the weighted-average method. Equivalent Units (gallons) a. Materials b. Conversion costs
Required information [The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion 450,450 $ 19,350 2,520 $ 21,870 246,330 696,780 Total costs to account for $ 718,650 Direct Materials Conversion Percent Percent Units Complete Beginning work in process inventory 2,000 100% Complete 20% Units started this period 38,500 Completed and transferred out 38,000 Ending work in process inventory 2,500 100% 60% Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Unit Reconciliation Units to account for Total units to account for Units accounted for
Conlon Chemicals manufactures paint thinner. Information on the work in process follows: . • Beginning inventory, 40,700 partially complete gallons. . • Transferred out, 206,500 gallons. • Ending inventory (materials are 21 percent complete; conversion costs are 11 percent complete). Started this month, 238,200 gallons. Required: a. Compute the equivalent units for materials using the weighted-average method. b. Compute the equivalent units for conversion costs using the weighted-average method. a. Materials b. Conversion costs Equivalent Units (gallons)
Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 84,000 442,000 420,000 106, 000 Direct Materials Percent Complete 80% 80% Conversion Percent Complete 20% 30%
The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total $ 57,000 36,000 $ 93,000 $ 130,000 380,000 $ 510,000 Materials are added at the beginning of the process. The following quantities have been recorded: Beginning inventory, 41,000 partially complete gallons, 35 percent complete with respect to conversion costs. • Units started in July, 81,000 gallons. • Units transferred out in July, 91,000 gallons. Ending inventory, 31,000 gallons, 50 percent complete with respect to conversion costs. Cost of goods transferred out Ending inventory Required: Compute the cost of goods transferred out and the ending inventory for July using the FIFO method. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar.