Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning Inventory in the first processing department consisted of 1,600 units. The costs and percentage completion of these units in beginning Inventory were: Materials costs Conversion costs Cost $ 6,900 $ 8,000 Percent Complete 65% 45% A total of 8,900 units were started and 7,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 126,700 Conversion costs $ 208,200 The ending Inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. What are the equivalent units for conversion costs for the month in the first processing department? Multiple Choice 8,290 7,100 1,190 10,500

Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning Inventory in the first processing department consisted of 1,600 units. The costs and percentage completion of these units in beginning Inventory were: Materials costs Conversion costs Cost $ 6,900 $ 8,000 Percent Complete 65% 45% A total of 8,900 units were started and 7,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 126,700 Conversion costs $ 208,200 The ending Inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. What are the equivalent units for conversion costs for the month in the first processing department? Multiple Choice 8,290 7,100 1,190 10,500

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 14PA: Loanstar had 100 units in beginning inventory before starting 950 units and completing 800 units....

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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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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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