Beginning work in process is 900 units, units completed and transferred out in October are 3,200 units, and ending work in process is 500 units. Under FIFO costing, what are units started in production in October? a) 3,600 b) 2,800 c) 3,200 d) none of the above
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Beginning work in process is 900 units, units completed and transferred out in October are 3,200 units, and ending work in process is 500 units. Under FIFO costing, what are units started in production in October?
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- Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Overhead is applied on the basis of direct labor hours. Required: 1. What was the predetermined overhead rate? 2. What was the applied overhead for last year? 3. Was overhead over- or underapplied, and by how much? 4. What was the total cost per unit produced (carry your answer to four significant digits)?Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units before ending the month with 3.000 u flits that were 100% complete with regard to materials and 80% complete with regard to conversion costs. The cost per unit of material is $5.45, and the cost per unit for conversion is $6.20 per unit, Using the weighted-average method, prepare the companys process cost summary for the month.The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
- (6) Department W had 2,220 units, one-third completed at the beginning of the period. There were 13,900 units transferred to Department X from Department W during the period, and 800 units were one-half completed at the end of the period. Assume the completion ratios apply to both direct materials and conversion costs, and the company uses the FIFO cost flow method. What is the total number of units to be assigned costs on the cost of production report for Department W? a.15,320 units b.13,900 units c.14,700 units d.16,120 unitsDepartment W had 2,820 units, one-third completed at the beginning of the period; 12,100 units were transferred to Department X from Department W during the period; and 1,050 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. What is the equivalent units of production used to compute unit conversion cost on the cost of production report for Department W? Assume the company uses FIFO. a.11,685 units b.11,160 units c.15,970 units d.9,280 units The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $35,855 Accounts receivable (net) 29,267 Inventory 26,611 Property, plant and equipment 210,452 Total Assets $302,185 Liabilities and Stockholders' Equity Current liabilities $56,968 Long-term liabilities…Assuming a FIFO method of process costing (for both of the following situations), determine the equivalent units of production for labor and overhead. c. Beginning WIP Inventory (25% complete) 10,800 Units started in production ? Units transferred out 351,600 Ending WIP Inventory (45% complete) 18,300 d. Beginning WIP Inventory (55% complete) 15,000 Units started in production 405,000 Units transferred out 415,800 Ending WIP Inventory (90% complete) ?
- Assuming a FIFO method of process costing (for both of the following situations), determine the equivalent units of production for labor and overhead. a. Beginning WIP Inventory (30% complete) 40,000 Units started in production 480,000 Units transferred out ? Ending WIP Inventory (70% complete) 26,000 b. Beginning WIP Inventory (45% complete) 10,000 Units started in production 350,000 Units transferred out 344,000 Ending WIP Inventory (60% complete) 16,000Use this information about Department W to answer the question that follow. Department W had 2,760 units, one-third completed at the beginning of the period. 13,200 units were transferred to Department X from Department W during the period, and 950 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. What is the total number of units to be assigned costs on the cost of production report for Department W?Department W had 2,460 units, one-third completed at the beginning of the period; 12,500 units were transferred to Department X from Department W during the period; and 1,500 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. The equivalent units of production used to compute unit conversion cost on the cost of production report for Department W, assuming the company uses FIFO, are
- Department W had 2,400 units, one-third completed at the beginning of the period; 12,500 units were transferred to Department X from Department W during the period; and 1,750 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. The equivalent units of production used to compute unit conversion cost on the cost of production report for Department W, assuming the company uses FIFO, are a.16,650 units b.11,700 units c.12,575 units d.10,100 unitsElmo has the following information for the month of October, its first month of operations Costs added in October Required a) Determine the equivalent units of production for October. (4 marks) b) Determine the cost of the ending work-in-process. (6 marks) c) Determine the cost of goods completed. (6 marks) d) What is meant by the term equivalent full units? (4 marks)Utilize the weighted average method (for both of the following situations) to determine the equivalent units of production for labor and overhead, assuming that they are continuously at the same percentage of completion: c. Beginning WIP Inventory (25% complete) 10,800 Units started in production ? Units transferred out 351,600 Ending WIP Inventory (45% complete) 18,300 d. Beginning WIP Inventory (55% complete) 15,000 Units started in production 405,000 Units transferred out 415,800 Ending WIP Inventory (90% complete) ?
