A production department within a company received materials of $12,000 and conversion costs of $11,000 from the prior department. It added material of $17,600 and conversion costs of $40,840. The equivalent units are 16,000 for material and 14,400 for conversion. What is the unit cost for materials and conversion? When required, round final answers to two decimal places. Unit Cost Materials $4 Conversion $

A production department within a company received materials of $12,000 and conversion costs of $11,000 from the prior department. It added material of $17,600 and conversion costs of $40,840. The equivalent units are 16,000 for material and 14,400 for conversion. What is the unit cost for materials and conversion? When required, round final answers to two decimal places. Unit Cost Materials $4 Conversion $

Name: A production department within a company receivedmaterials of $12,000
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Description: A production department within a company receivedmaterials of $12,000 and conversion costs of $11,000 fromthe prior department. It added material of $17,600 andconversion costs of $40,840. The equivalent units are16,000 for material and 14,400 for c

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Assume the following information: Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Materials $ 10,000 291,600 $ 301,600 Conversion $ 15,000 385,000 $ 400,000 Total $ 25,000 676,600 $ 701,600 Assume the equivalent units of production for materials and conversion are 5,200 units and 5,000 units, respectively, using the weighted-ave method. If 4,610 units were completed and transferred to the next department, then what is the total cost assigned to the units completed am forred out of the Milling Department?
Joy Inc. has started manufacturing 15,000 units of a product. Direct materials cost incurred was $235,000, direct labor cost incurred was $202,000, and applied factory overhead was $78,000. What is the amount of total conversion cost? Group of answer choices $515,000 $280,000 $437,000 $313,000
Department S had 600 units 73% completed in process at the beginning of the period; 8,400 units completed during the period; and 900 units 46% completed at the end of the period. What was the number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories? Assume the completion percentage applies to both direct materials and conversion cost. a.7,800 b.8,376 c.9,276 d.7,962
In a "Cost of Goods Manufactured" report, "COST OF GOODS MANUFACTURED" will be reported at what amount? WIP, beginning 20,000 units Units started during the month 600,000 units WIP, ending (materials complete; 60% complete as to conversion cost) 40,000 Conversion Cost of WIP, beginning P 100,000 Conversion cost for the month P 655,000 Materials Cost of WIP, beginning P 140,000 Materials cost for the month P 790,000
Subject: acounting
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Cost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of Blackrock Steel Company is $625,500. The conversion cost for the period in the Rolling Department is $157,680. The total equivalent units for direct materials and conversion are 13,900 tons and 13,140 tons, respectively.Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit:Conversion costs per equivalent unit:per ton
A-1
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
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Cost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of Blackrock Steel Company is $625,500. The conversion cost for the period in the Rolling Department is $157,680. The total equivalent units for direct materials and conversion are 13,900 tons and 13,140 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: Conversion costs per equivalent unit: per ton per ton
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