A company uses a process cost accorinting system using the weighted average cost flow assumption. Its Assembly Department's beginning work in process inventory consisted of 50,000 units, 75% complete with respect to direct labor and manufacturing overhead. The department started and finished 127,500 units this period. The ending work in process inventory consists of 40,000 units that are 25% complete with respect to direct labor and manufacturing overhead. All direct materials are added at the beginning of the process. The department incurred direct labor costs of $240,000 and manufacturing overhead costs of $320,000 for the period. The conversion cost per equivalent unit is: $3.294.

added when the units are one-half completed. Labor and factory overhead are applied evenly during the process. Make the following computations for each case: a. Unit cost of materials, labor, and factory overhead for the month b. Cost of the units finished and transferred during the month Cost of the units in process at the end of the month C. E6-4 Calculating equivalent units Conte Chemnical Co. uses the weighted average cost method. All materials are added at the start of the production process. Labor and overhead are added evenly at the same rate throughout the process. Conte's records indicate the following data for May: Beginning work in process, May 1 (50% completed). Started in May..... 1,000 units 5,000 units Completed and transferred 4,000 units Ending work in process, on May 31, is 75% completed as to labor and factory overhead. Make the following calculations: a. Equivalent units for direct materials b. Equivalent units for labor and overhead (Hìnt first determine the ending…

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.   Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 33,500 70% 30% Units started this period 470,000     Completed and transferred out 468,500     Ending work in process inventory 35,000 90% 50% Production cost information for the forming department follows. Beginning work in process     Direct materials $ 55,000   Conversion 22,100 $ 77,100 Costs added this period     Direct materials 1,745,000   Conversion 1,154,020 2,899,020 Total costs to account for   $ 2,976,120   Calculate the equivalent units of production for both direct materials and conversion for the Forming department. Calculate the costs per equivalent unit of…

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The Constructing Department of MEC Company had 2,600 units in work in process at the beginning of the period, which were 55% complete. During the period, 23,800 units were completed and transferred to the Packing Department. There were 7,400 units in process at the end of the period, which were 60% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs.

The Jupiter Corporation uses a process cost system. The company started A. During the month 4,000 units were started. 3,100 units were transfered to Department B and the end of the month there were 3,200 units in ending Work in Process- Dept. A inventory that were 30% complete. The beginning work in process balance was $240,540 and total manufacturing cost for the period was $608,000. Based on this information, the total amount of cost to be accounted for is $608,000 $848,540 $647,900 O$240,540

The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory 0 Units started in production 23,200 Units finished during the period 17,500 Units in process at the end of the period(complete as to materials, ¼ complete as to labor and overhead) 5,700 Cost of materials used $ 55,080 Labor and overhead costs $ 57,075 Total cost of the 17,500 units finished is:

Kronk, Incorporated provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 10 percent complete). Started this month, 74,500 units. Transferred out, 71,500 units. Ending inventory, 35,750 units (materials are 100 percent complete; conversion costs are 60 percent complete). Required: Compute the equivalent units for materials using FIFO. Compute the equivalent units for conversion costs using FIFO.

Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 2,000 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $8,800. During the period, 8,000 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $4.00 for material and $5.00 for conversion costs. The cost of units transferred out during the month was: Multiple Choice   A. $40,000   B. $63,200   C. $72,000   D. $80,800

A company is using process costing with the first-in, first-out method, and all costs are added evenly throughout the manufacturing proceess. If there are 5,000 units in beginning work in process inventory (30% complete), 10,000 units in ending work in process inventory (60% complete), and 25,000 units started in process this period, how many equivalent untils are there for this period?