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Concept explainers
Items 3 – 6
Cena Company employs FIFO
production in assembly department and finishing department. The following data for the year ended
December 31, 2020 are provided:
ASSEMBLY DEPARTMENT
Units Cost
January 1, 2020 100,000 units – 40%
completed as to conversion
cost
DM – P3M
DL – P5M
FOH – P2M
December 31, 2020 150,000 units – 80%
completed as to conversion
costs
?
Units started during the
year 400,000 units
DM cost added during 2020 – P12M
DL cost added during 2020 – P15M
FOH cost added during 2020 – P13M
FINISHING DEPARTMENT
January 1, 2020 50,000 units – 70% incomplete
as to conversion cost
Transferred In – P10M
DM – P6M
DL – P1M
FOH – P3M
December 31, 2020 30,000 units – 10% incomplete
as to conversion costs
?
Units started during the
year ?
DM cost added during 2020 – P30M
DL cost added during 2020 – P40M
FOH cost added during 2020 – P10M
Additional Information:
• It is the company policy to apply direct labor and factory
period in the two departments.
• It is the company policy to add all direct materials in the assembly department at the start of the
process while all direct materials in the finishing department are added at the end of the process.
• There is no spoilage in both departments. (Round off Units Costs into two decimal places.)
3. In the assembly department, what is the cost of goods
completed for the year ended December 31, 2020?
a. 37,687,200
b. 38,763,400
c. 36,451,200
d. 35,523,800
4. In the assembly department, what is the cost assigned to December 31, 2020 work-in-process
inventory?
a. 12,314,400
b. 11,236,600
c. 13,548,800
d. 14,476,200
5. In the finishing department, what is the cost of goods manufactured or cost assigned to units
completed for the year ended December 31, 2020?
a. 130,923,150
b. 129,235,750
c. 131,285,400
d. 128,452,100
6. In the finishing department, what is the cost assigned to December 31, 2020 work-in-process inventory?
a. 6,764,430
b. 8,541,450
c. 6,401,800
d. 9,235,100
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- Please do not give solution in image format thankuarrow_forward2 Baruch Company has two processing departments: Assembly and Finishing. During the month of March, the company recorded the following: Finishing Department (Second department) costs: Work-in-process inventory, March 1, 400 units Costs transferred in during the month from the Assembly Department, Materials cost added during the month Conversion costs incurred during the month Total Cost S A. B. C. D. E. None of the above S $ S $ 232 EUS 250 EUS 265 EUS 1,500 EUS 5.000 * *Consists of cost transferred in, $1,500; materials cost, $2,300; and conversion cost, $1,200. Finishing Department units are assigned to: Units completed and transferred out to finished goods: Work-in-process inventory, March 31: 12.000 17.000 19,500 53,500 The beginning work-in-process inventory contained 400 physical units; The conversion costs for the units completed and transferred out was $19,200. Find the number of equivalent units (EUs) in the ending inventory for conversion cost. 3.200 units units ???arrow_forwardTB MC Qu. 8-74 (Algo) Bentwood Corporation uses the FIFO method in its... Bentwood Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work-in-process inventory: Units in beginning work-in-process inventory Material's costs 1,900 $ 36,100 $ 20,900 Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the month Ending work-in-process inventory: Units in ending work-in-process inventory Percent complete with respect to materials Percent complete with respect to conversion 70% 25% 9, зе 8,100 $156, 200 $255,5e0 3,100 80% 35% What are the equivalent units for materlals for the month in the first processing department? Multiple Choice Activate Windowarrow_forward
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