FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Use this information about Department E to answer the question that follows. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. There were 14,000 units of direct materials added during the period at a cost of $28,700. There were 15,000 units completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process, and the average cost method is used to cost inventories. Direct labor was $32,450, and factory overhead was $18,710. The number of equivalent units of production for the period is a.17,250 b.15,650 c.18,000 d.14,850arrow_forwardIn the month of June, a department had 20900 units in beginning work in process that were 75% complete. During June, 90400 units were transferred into production from another department. At the end of June there were 9800 units in ending work in process that were 45% complete. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. The equivalent units of production for materials for June were 111300 equivalent units. 101500 equivalent units. 90400 equivalent units. 115710 equivalent units.arrow_forwardHoward Corporation has two production departments. Curing has 12,000 units in process at the beginning of the period, 3 / 4 complete. During the period, 45,000 units were received from Crushing, 48,000 units were transferred to Finished Goods, and 9,000 units were in process at the end of the period, 2/ 3 complete. Cost information was as follows: Cost of beginning Work in Process: Cost in Crushing $ 21,640 Cost in Curing: Materials 8,810 Labor 1,190 Factory overhead 2,420 Costs during the month: Cost of goods received from Crushing $ 85,520 Cost in Curing: Materials 53,830 Labor 10,690 Factory overhead 17,560 Total costs to be accounted for $201,660 Question: Using the information above: Determine the unit cost for the month in Curing.b. Determine the total cost of the products transferred to…arrow_forward
- The Filling Department of Ivy Cosmetics Company had 2,000 ounces in beginning work in process inventory (20% complete). During the period, 33,900 ounces were completed. The ending work-in process inventory was 1,700 ounces (50% complete). What are the total equivalent units for direct materials if materials are added at the beginning of the process?( ) unitsarrow_forwardDepartment G had 3,600 units, 40% completed at the beginning of the period, 12,000 units were completed during the period, 2,000 units were 20% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Line Item Description Amount Work in process, beginning of period $ 60,000 Costs added during period: Direct materials (10,400 at $9.8365) 102,300 Direct labor 79,800 Factory overhead 25,200 Assuming that all direct materials are placed in process at the beginning of production and that the first-in, first-out method of inventory costing is used, the materials and conversion cost per unit (rounded to the nearest cent), respectively, arearrow_forwardDepartment G had 1,920 units 25% completed at the beginning of the period, 13,300 units were completed during the period; 1,600 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $26,700 Costs added during period: Direct materials (12,980 units at $8) 103,840 Direct labor 86,400 Factory overhead 28,800 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of the units started and completed during the period is (do not round unit cost calculations) $91,040 $170,856 $210,764 $190,810arrow_forward
- Silva Coporation uses the weighted average process costing method. The Mixing Department at Silva had 17,000 units in beginning inventory. These units contained $70,000 in direct materials, $80,000 in direct labor, and $60,000 in overhead. During the period, the department incurred costs of $320,000 in direct materials, $400,000 in direct labor and $200,000 in overhead and started 80,000 units. Ending inventory consisted of 6,000 units which were 100% complete with respect to direct materials and 50% complete with respect to direct labor and overhead. What is the cost per equivalent unit for direct labor (rounded to the nearest cent)? O $5.28 O $5.11 O $4.94 $0.86arrow_forwardUse this information about Department G to answer the question that follows. Department G had 3,600 units 25% completed at the beginning of the period, 11,000 units were completed during the period, 3,000 units were 20% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period $40,000 Costs added during period: Direct materials (10,400 units at $8) 83,200 Direct labor 63,000 Factory overhead 25,000 All direct materials are added at the beginning of the process, and the first-in, first-out cost flow method is used. Determine the total cost of the inventory in process at the end of the period. Round the unit cost computation to the nearest cent. a. $21,432 b. $16,163 c. $28,932 d. $35,670arrow_forwardDepartment R had 4,700 units in work in process that were 80% completed as to labor and overhead at the beginning of the period; 37,500 units of direct materials were added during the period; 40,200 units were completed during the period; and 2,000 units were 20% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first- out method is used to cost inventories. The number of equivalent units of production for conversion costs for the period was O 36,840 O 40,200 46,900. O 41,540arrow_forward
- Amon Products inc. completed and transferred 120,000 particle board units of production from the Pressing Department. There was no beginning inventory in process in the department. The ending in-process inventory was 7,500 units, which were%complete as to conversion cost. All materials are added at the beginning of the process. Direct materials cost incurred was$61,200, direct labor cost incurred was$127,150, and factory overhead applied was$221,450. Determine the following for the Pressing Department: a. Total conversion cost b. Conversion cost per equivalent unit c. Direct materials cost per equivalent unit PLEASE SHOW ALL WORKarrow_forwardAmazon Industries utilizes a process costing system with just one processing department. The beginning work in process Inventory in Department A consisted of 11,500 units, 100% complete with respect to materials cost and 40 % complete with respect to conversion costs. The total cost in the beginning work in process Inventory for Department A was $22,600. A total of 40,000 units were transferred out of Department A during the month. The costs per equivalent unit were computed to be $1.30 for materials and $3.10 for conversion costs. What is the total cost of the units completed and transferred out of Amazon's Department A this period?arrow_forward
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