FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Compute the Equivalent units of production (EUP):
Units received from preceding department 25,000 units
Units completed and transferred 14,000 units
Units in process, end (30% incomplete) 11,000 units
Compute the equivalent production for conversion if 40% of materials are added at the beginning and the remaining 60% are added 75% completed
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- Materials are added at the start of the process in ABC preparing department, the first stage of the production cycle. The following information is available in August: Work in process, December 31 (50% complete as to conversion cost) - 175,000 Transferred to next department - 275,000 Started in December - 375,000 Work in process, December 1 (60% complete as to conversion cost) -150,000 Lost in production (continuous normal) - 75,000 What is the EUP for conversion costs using FIFO method?362,500347,500437,500272,500 What is the EUP for conversion cost using the weighted-average method?272,500362,500437,500367,500arrow_forwardDepartment W had 2,580 units, one-third completed at the beginning of the period; 12,000 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. The total number of units to be assigned cost on the cost of production report for Department W is Oa. 13,530 units Ob. 13,050 units Oc. 12,000 units Od. 14,580 unitsarrow_forwardEquivalent Units of Conversion Costs The Rolling Department of Jabari Steel Company had 4, 698 tons in beginning work in process inventory (10% complete) on October 1. During October, 52, 200 tons were completed. The ending work in process inventory on October 31 was 3, 132 tons (60% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.arrow_forward
- 2. Department A had 16,000 units in the beginning work in process that is 45% with respect to material and 80% completed with respect to conversion costs. 12,000 units were added during the period; 20,000 units were completed and transferred and the remaining units in ending work-in-process were 65% completed with respect to materials and 35% completed with respect to conversion cost. The following additional information relate to the cost incurred: Work in Process (Material is $750,000; Conversion $1,250,000) Cost Added this period (Material is $2,000,000; Conversion $1,000,000) Required: Given the quantity schedule that has been prepared for you below, a. What is the cost of units completed and transferred? b. What is the cost of the units in ending work-in-process? Quantity Schedule (Weighted Average Process Costing Method) WIP beginning Units added this period Units to be accounted for Completed and Transferred Ending WIP Material 65%; Conversion 35% Total units accounted for Total…arrow_forwardTech Enterprise makes a single product in two departments. The production data for Department B for August 2019 follows: Quantities: In process, August 1 (40% complete) 4,000 units Received from Department A 30,000 units Completed and transferred 25,000 units In process, August 31 (60% complete) 6,000 units Production costs: August 1 August 31 Transferred in P48,900 P267,300 Materials 11,400 202,500 Conversion cost 5,820 243,000 Materials are added at the start of the process, and losses normally occur during the early stage of the operation. Cost of goods manufactured using FIFO method.arrow_forwardCost 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 tonarrow_forward
- The Converting Department of Soft Touch Towel and Tissue Company had 840 units in work in process at the beginning of the period, which were 60% complete. During the period, 17,600 units were completed and transferred to the Packing Department. There were 960 units in process at the end of the period, which were 75% complete. Direct materials are placed into the process at the beginning of production. Soft Touch Towel and Tissue Company Number of Equivalent Units of Production Whole Units Direct Materials Conversion Equivalent Equivalent Units Units Inventory in process, Beginning Started and Completed Transferred to Packing Department Inventory in process ending Tatalarrow_forwardEquivalent Units of Conversion Costs The Rolling Department of Blackrock Steel Company had 800 tons in beginning work in process inventory (20% complete). During the period, 12,700 tons were completed. The ending work in process inventory was 2,000 tons (30% complete). What are the total equivalent units for conversion costs? unitsarrow_forwardEquivalent Units of Conversion Costs The Rolling Department of Jabari Steel Company had 2,814 tons in beginning work in process inventory (20% complete) on October 1. During October, 40,200 tons were completed. The ending work in process inventory on October 31 was 2,010 tons (10% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit. unitsarrow_forward
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