Wildhorse Company reported the following information for the month of April: Work in Process Beginning inventory, April 1 Added to production Completed and transferred out Ending inventory, April 30 Units Work in Process Beginning inventory. April 1 Added to production 4 7,000 41,400 ? 5,000 Ending inventory was 100 % complete with respect to materials and 49% complete with respect to conversion costs. Wildhorse also reported the following cost information in April: Materials $9,440 68,000 Costs Conversion $15,878 107,000

Wildhorse Company reported the following information for the month of April: Work in Process Beginning inventory, April 1 Added to production Completed and transferred out Ending inventory, April 30 Units Work in Process Beginning inventory. April 1 Added to production 4 7,000 41,400 ? 5,000 Ending inventory was 100 % complete with respect to materials and 49% complete with respect to conversion costs. Wildhorse also reported the following cost information in April: Materials $9,440 68,000 Costs Conversion $15,878 107,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 13EA: A company started the month with 8,329 units in work in process inventory. It started 23,142 unit...

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Narwhal Swimwear has a beginning work in process inventory of 13,500 units and transferred in 130,000 units before ending the month with 14,000 units that were 100% complete with regard to materials and 30% complete with regard to conversion costs. The cost per unit of material is $5.80 and the cost per unit for conversion is $8.20 per unit. Using the weighted-average method, what is the amount of material and conversion costs assigned to the department for the month?
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Production information shows these costs and units for the smoothing department in August. All materials are added at the beginning of the period. The ending work in process is 30% complete as to conversion. What is the value of the inventory transferred to finished goods and the value of the WIP inventory at the end of the month?
Production information shows these costs and units for the smoothing department in August. What is the value of the inventory transferred out to finished goods and the value of the WIP inventory at the end of the month, assuming conversion costs are 30% complete?
Rexar had 1,000 units in beginning inventory before starting 9.500 units and completing 8,000 units. The beginning work in process inventory consisted of $5,000 in materials and $8,500 in conversion costs before $16,000 of materials and $18,500 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 40% complete with regard to conversion costs. Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department.
There were 1,700 units in beginning inventory that were 40% complete with regard to conversion. During the month, 8,550 units were started and 9,000 were transferred to finished goods. The ending work in process was 60% complete with regard to conversion costs, and materials are added at the beginning of the process. What is the total amount of equivalent units for materials and conversion at the end of the month using the weighted-average method?
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Loanstar had 100 units in beginning inventory before starting 950 units and completing 800 units. The beginning work in process inventory consisted of $2,000 in materials and $500O in conversion costs before $8.500 of materials and $11,200 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 40% complete with regard to conversion costs. Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department.
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