FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Please do entire problem.arrow_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
- Units of production data for the two departments of Pacific Cable and Wire Company for November of the current fiscal year are as follows: Drawing Department Winding Department 5,700 units, 35% completed 1,700 units, 90% completed Work in process, November 1 Completed and transferred to next processing department during November Work in process, November 30 4,300 units, 60% completed 2,300 units, 20% completed a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for November for the Drawing Department. If an amount is zero, enter in "0". Drawing Department Direct Materials and Conversion Equivalent Units of Production For November Inventory in process, November 1 Started and completed in November Transferred to Winding Department in November Inventory in process, November 30 Total 78,100 units Inventory in process, November 1 Started and completed in November Transferred to finished…arrow_forwardUse this information about Department G to answer the question that follow. Department G had 2,160 units 25% completed at the beginning of the period, 12,300 units were completed during the period, 1,800 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 Costs added during period: Direct materials (11,940 units at $9) Direct labor Factory overhead $26,700 a. $190,853 b. $174,254 O c. $157,655 d. $91,260 107,460 74,400 24,800 All direct materials are placed in process at the beginning of production, and the first-in, first-out method of inventory costing is used. What is the total cost of the units started and completed during the period (do not round unit cost calculation)?arrow_forwardEquivalent Units of Production Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Work in process, June 1 Completed and transferred to next processing department during June Work in process, June 30 Inventory in process, June 1 Started and completed in June Transferred to Winding Department in June Inventory in process, June 30 Total Drawing Department 6,600 units, 50% completed 5,000 units, 50% completed 2,600 units, 10% Broduction begins in the Drawing Department and finishes h the Winding Department. 90,400 units a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "0". Drawing Department Direct Materials and onversion Equivalent Units of Production For June Inventory in process, June 1 Started and completed in June Transferred to finished goods in June…arrow_forward
- [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Units Beginning work in process inventory 71,000 Percent Complete 65% Percent Complete 35% Units started this period 377,000 Completed and transferred out 355,000 Ending work in process inventory 93,000 90% 40% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Completed and transferred out Ending work in process Total Equivalent units of production: Weighted average method Direct Materials Conversion Units Percent Complete EUP Percent Complete EUP 355,000 93,000 448,000arrow_forwardEquivalent Units of Production: Weighted average method Units of production data for the two departments of Atlantic Cable and Wire Company for July of the current fiscal year are as follows: Drawing Department Winding Department Work in process, July 1 1,450 units, 60% completed 450 units, 35% completed Completed and transferred to next processing department during July 22,850 units 22,600 units Work in process, July 31 1,100 units, 60% completed 700 units, 30% completed Each department uses the Weighted average method. For each department, assume that direct materials are placed in process during production. a. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Drawing Department. Whole units fill in the blank 1 units Equivalent units of production fill in the blank 2 units b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units…arrow_forwardi need the answer quicklyarrow_forward
- Department M had 2, 800 units 53% completed in process at the beginning of June, 11, 200 units completed during June, and 800 units 33% completed at the end of June. The number of equivalent units of production for conversion costs for June if the first - in, first-out method is used to cost inventories is a. 11,464 units b. 9, 980 units c. 8, 400 units d. 12, 264 unitsarrow_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_forwardEquivalent Units of Production Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Winding Department Drawing Department 6,100 units, 30% completed 3,000 units, 90% completed Work in process, June 1 Completed and transferred to next processing department during June Work in process, June 30 4,600 units, 55% completed Production begins in the Drawing Department and finishes in the Winding Department. Inventory in process, June 1 Started and completed in June Transferred to Winding Department in June Inventory in process, June 30 Total a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "0". Drawing Department Direct Materials and Conversion Equivalent Units of Production For June Feedback 83,600 units Inventory in process, June 1 Started and completed in June…arrow_forward
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