A Holly Company has the following information for December 1 to December 31. All direct materials are 100% complete. Work-in-Process Beginning balance December 230 units, 20% complete for conversion Direct materials Direct labor. Factory overhead. Property taxes Depreciation Utilities Indirect labor Ending balance December 31, 330 units, 40% complete Direct materials Conversion Equivalent Units Weighted Average $ 28,750 62,100 39,100 Required: 1. Calculate equivalent units using the weighted-average and FIFO methods. Weighted average method OFIFO method 6,600 33,500 18,600 4,600 36,791 FIFO Completed 830 units and transferred to finished goods inventory $ 156,459 2. Use the given information to determine whether Holly Company is using the FIFO or weighted-average method. The beginning balance of Work-in-Process (WIP) consists of $16,362 of direct materials and $12,388 of conversion costs.

Current Attempt in Progress Production costs chargeable to the Sanding Department in July in Monty Company are $41,160 for materials, $14,700 for labor, and $12,740 for manufacturing overhead. Equivalent units of production are 29,400 for materials and 19,600 for conversion costs. Compute the unit costs for materials and conversion costs. (Round answers to 2 decimal places, e.g. 15.25.) Unit costs $ Materials $ Conversion Costs

Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Actual Results 62,900 pounds @ $8.20 per pound 26,500 hours @ $16.50 per hour 8,900 units $ 325,700 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH Actual Hours SH Standard Hours Standard Rate AR Actual Rate SR Actual Cost G < Prev 8 of 8 Next Standard Cost

a.  Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places.   The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process. Work in process, January 1, 8,200 units, 65% completed   $103,894*     *Direct materials (8,200 × $10.2) $83,640       Conversion (8,200 × 65% × $3.8) 20,254     $103,894   Materials added during January from Weaving Department, 126,400 units   $1,301,920 Direct labor for January   219,708 Factory overhead for January   268,533 Goods finished during January (includes goods in process, January 1), 127,800 units   — Work in process, January 31, 6,800 units, 40% completed   — Cost of Production Report-Cutting Department For the Month Ended January 31 Unit Information Units charged to production: Number of…

Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Middelton Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for October: All materials are added at the beginning of the process. Beginning work in process had 125,000 units, 40 percent complete with respect to conversion costs. Ending work in process had 25,000 units, 20 percent complete with respect to conversion costs. Started in process, 175,000 units.                                                                                                                          Required: Question Content Area 1. Prepare a physical flow schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method. 4. Suppose that the cost of direct materials in beginning work in process is $560,000 and that the direct materials cost incurred for October is…

Following is a partial production cost report for Mitchell Manufacturing's Canning Department. Equivalent units of production (EUP) Completed and transferred out Ending Work in Process Cost per EUP Cost of beginning work in process Costs added this period Total costs % EUP from part (a) Cost per EUP Multiple Choice $158,400. $175,032. Direct Materials $ 41,800 140,100 $ 181,900 92,000 $ 1.98 per EUP The total direct materials costs transferred out of the Canning department equals: $181,900. $182,160. Units 80,000 12,000 $226,400. Direct Materials Percent Complete 100% 100% EUP 80,000 12,000 92,000 Conversion Percent Complete Conversation $ 61,500 188,500 $ 250,000 88,400 100% 70% $ 2.83 per EUP EUP 80,000 8,400 88,400

Work in Process—Assembly Department Bal., 3,000 units, 35% completed 7,395 To Finished Goods, 69,000 units ? Direct materials, 71,000 units @ $1.8 127,800     Direct labor 100,700     Factory overhead 39,200     Bal., ? units, 40% completed ?     Cost per equivalent units of $1.80 for Direct Materials and $2.00 for Conversion Costs.   a.  Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1.  Cost of beginning work in process inventory completed this period $ 2.  Cost of units transferred to finished goods during the period $ 3.  Cost of ending work in process inventory $ 4.  Cost per unit of the completed beginning work in process inventory (Rounded to the nearest cent.) $ b.  Did the production costs change from the preceding period?Yes  c.  Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit…

Legacy Company manufactures umbrellas and has the following information available for the month of May. Work in process, May 1 (100% complete for materials, 90% for conversion) Direct materials Conversion cost Number of units started May costs Direct materials Conversion cost Work in process, May 31 (100% complete for materials, 20% for conversion) 35,500 units $ 64,000 $ 87,000 90,000 units $ 102,500 $ 189,000 33,000 units E3-11 (Algo) Weighted-Average Method [LO 3-2] Required: Using the weighted-average method of process costing, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period. 2. Calculate the number of equivalent units. 3. Calculate the cost per equivalent unit. 4. Reconcile the total cost of work in process. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Using the weighted-average method of process costing, reconcile the number of physical units worked on…