Cosby Company uses a process costing system. The company adds all materials at the beginning of the process in the Molding Department, which is the first of two stages of its production process. Information concerning the materials used in the Molding Department during March is as follows: Units started during March- 112,000 units, Units completed and transferred- 97,000 units, Units in process, end (50% complete)- 15,000, Material Cost- P57,120, Conversion Cost- P142,800.   What was the material cost of the work in process inventory at March 31?   P7,650 P11,220 P7,500 P5,100

Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department, direct materials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the production activity and costs for February:  Beginning inventories:     Molding       Assembly Physical units                 10,000           8,000  Costs:  Transferred in                      —           $ 45,400  Direct materials              $22,000           —  Conversion costs          $13,800         $ 16,700 Current production:  Units started                    25,000           30,000 Units transferred out       30,000            35,000  Costs:  Transferred in                       —…

Goody Company adds direct materials at the beginning of the process and adds conversion costs throughout the process. The company uses the weighted-average method for process costing. Data for the finishing department follows: WIP, April 1 Transferred-in costs in WIP, April 1 Direct materials (100%) in WIP, April 1 Conversion costs (70%) in WIP, April 1 Units transferred-in Transferred-in costs during April Units completed April direct materials cost April conversion costs WIP, April 30 (100% for materials and 60% for conversion costs) 12,000 units $78,940 $22,420 $21,385 45,000 $4.80 $4.42 $5.13 $4.95 $540,900 42,000 $157,500 $230,837 15,000 units At the Goody Company the cost per equivalent unit for conversion costs would be closest to

Universal Manufacturing uses a weighted-average process-costing system. All materials are introduced at the start of manufacturing, and conversion costs are incurred evenly throughout the process. The company's beginning and ending work-in-process inventories totaled 11,200 units and 20,700 units, respectively, with the latter units being 2/3 complete at the end of the period. Universal started 36,300 units into production and completed 26,800 units. Manufacturing costs follow. Beginning work in process: Materials, $60,700; conversion cost, $233.000 Current costs: Materials, $212,000; conversion cost, $483,000 Universal's equivalent-unit cost for conversion cost is:

Builder Products, Incorporated, uses the weighted-average method in its process costing system. It manufactures a caulking compound that goes through three processing stages prior to completion. Information on work in the first department, Cooking, is given below for May: Production data: Pounds in process, May 1; materials 100% complete; conversion 80% complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 60% complete; conversion 20% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost 10,000 100,000 ? 15,000 $ 1,500 $ 7,200 Check my work $ 154,500 $ 90,800 Required: 1. Compute the equivalent units of production for materials and conversion for May. 2. Compute the cost per equivalent unit for materials and conversion for May. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total for May.…

s

Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Required: Using the FIFO method: a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month. Work in process, beginning: Units in process Percent complete with respect to materials Percent complete with respect to conversion Costs in the beginning inventory: Materials cost Conversion cost Units started into production during the month Units completed and transferred out Costs added to production during the month: Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent…

Mercier Manufacturing produces a plastic part in three sequential departments: Extruding, Fabricating, and Packaging. Mercier uses the weighted-average process costing method to account for costs of production in all three departments. The following information was obtained for the Fabricating Department for the month of September. Work in process on September 1 had 15,000 units made up of the following: Degree of Amount Completion Prior department costs transferred in from the Extruding Department Costs added by the Fabricating Department Direct materials Direct labor Manufacturing overhead Work in process, September 1 Direct materials Direct labor Manufacturing overhead Total costs added During September, 75,000 units were transferred in from the Extruding Department at a cost of $356,250. The Fabricating Department added the following costs: $ 214, 200 64,800 33,480 $ 312,480 Manufacturing overhead Direct materials. 100% Direct labor 60 50 $ 75,750 $36,000 9,300 8,520 $ 53,820 $…