Exercise 6.17 FIFO Method, Valuation of Goods Transferred Out and Ending Work in Process K-Briggs Company uses the FIFO method to account for the costs of production. For Crushing, the first processing department, the following equivalent units schedule has been prepared: Direct Materials Conversion Costs 28,000 Units started and completed Units, beginning work in process: 28,000 10,000 x 0% 10,000 x 40% 4,000 Units, ending work in process: 6,000 x 100% 6,000 x 75% 6,000 4,500 Equivalent units of output 34,000 38,500 The cost per equivalent unit for the period was as follows: Direct materials $2.00 Conversion costs 6.00 Total $8.00 The cost of beginning work in process was direct materials, $40,000; conversion costs, $30,000. Required: 1. Determine the cost of ending work in process and the cost of goods transferred out. 2. Prepare a physical flow schedule.

Equivalent Units Calculations—Weighted Average Method   Ferris Corporation makes a powdered rug shampoo in two sequential departments, Compounding and Drying. Materials are added at the beginning of the process in the Compounding Department. Conversion costs are added evenly throughout each process. Ferris uses the weighted average method of process costing. In the Compounding Department, beginning work in process was 2,000 pounds (70% processed), 18,500 pounds were started in process, 18,000 pounds transferred out, and ending work in process was 30% processed. Calculate equivalent units for March 2016 for the Compounding Department. Ferris CorporationFlow of Units and Equivalent Units Calculation, March 2016   Equivalent Units   % Workdone DirectMaterials % WorkDone ConversionCosts Complete/Transferred Answer Answer Answer Answer Answer Ending Inventory Answer Answer Answer Answer Answer Total Answer   Answer   Answer

Problem 1  Brabensky Company produces a product in two departments: (1) Assembly and (2) Painting. The company uses a process cost accounting system. Purchased raw materials for $90,000 on account. Raw materials requisitioned for production were:                         Direct materials                                            Assembly department      $77,000                Factory labor used:                                Assembly department      $34,000                          Painting department   18,000 Manufacturing overhead is applied to the product based on machine hours used in each department:                          Assembly department—320 machine hours at $40 per machine hour.                          Painting department—120 machine hours at $15 per machine hour. Units costing $86,000 were completed in the Painting Department and were transferred to the Finished Good. Finished goods costing $70,000 were sold on cash for $102,000. Instructions Prepare the journal…

Units to be Assigned Costs Question 11    Eve Cosmetics Company consists of two departments, Blending and Filling. The Filling Department received 51,800 ounces from the Blending Department. During the period, the Filling Department completed 53,200 ounces, including 3,500 ounces of work in process at the beginning of the period. The ending work in process inventory was 2,100 ounces. How many ounces were started and completed during the period?fill in the blank 1 ounces