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 Corporation

Entries for Flow of Factory Costs for Process Cost System Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $605,000, $211,800, and $139,200, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $33,900, and work in process at the end of the period totaled $41,700. a. Journalize the entries to record the flow of costs into the Refining Department during the period for (1) direct materials, (2) direct labor, and (3) factory overhead. If an amount box does not require an entry, leave it blank. 1. 2. 3. b. Journalize the entry to record the transfer of production costs to the second department, Sifting. If an amount box does not require an entry, leave it blank.

Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 70% complete* 10,100 Units completed and transferred out 90,000 Units in process, July 31, 80% complete* 15,000     * With respect to conversion costs. Required: Question Content Area 1. Prepare a physical flow schedule for July. Jackson ProductsPhysical Flow ScheduleFor the Month of July Units to account for:         Units, beginning work is process (70% complete)     Units started during July Total units to account for   fill in the blank 2bb1ebfa004eff9_5 Units accounted for:     Units completed and transferred out:       Started and completed     From beginning work in process From beginning work in…

Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 60% complete* 10,100 Units completed and transferred out 80,000 Units in process, July 31, 80% complete* 15,100     * With respect to conversion costs. Required: Question Content Area 1. Prepare a physical flow schedule for July. Jackson ProductsPhysical Flow ScheduleFor the Month of July Units to account for:                 Total units to account for     Units accounted for:     Units completed and transferred out:                       Total units accounted for       2. Prepare an equivalent units schedule for July using the FIFO method. Enter percentages as whole numbers. If an amount box…

Lovell Variety Seeds mass produces wildflower seed packs. Relevant information used for the process costing system is provided below:    Beginning physical units 2,300 Physical units started 22,600  Units in ending WIP  9,500, 40% complete Beginning costs $3,100 Added direct materials costs $12,000 Added direct labor costs $19,500 Added manufacturing overhead costs $8,600   What is the costs completed and transferred out? Please round your answer to the nearest whole dollar.

The Converting Department of Soft Touch Towel and Tissue Company had 840 units in work in process at the beginning of the period, which were 60% complete. During the period, 17,600 units were completed and transferred to the Packing Department. There were 960 units in process at the end of the period, which were 75% complete. Direct materials are placed into the process at the beginning of production. Soft Touch Towel and Tissue Company Number of Equivalent Units of Production Whole Units Direct Materials Conversion Equivalent Equivalent Units Units Inventory in process, Beginning Started and Completed Transferred to Packing Department Inventory in process ending Tatal

Weighted Average Method, Physical Flow, Equivalent Units, UnitCosts, Cost AssignmentMimasca Inc. manufactures various holiday masks. Each mask is shaped from a piece of rubberin the molding department. The masks are then transferred to the finishing department, wherethey are painted and have elastic bands attached. Mimasca uses the weighted average method. InMay, the molding department reported the following data:a. BWIP consisted of 15,000 units, 20% complete. Cost in beginning inventory totaled$1,656.b. Costs added to production during the month were $26,094.c. At the end of the month, 45,000 units were transferred out to finishing. Then, 5,000 unitsremained in EWIP, 25% complete.Required:1. Prepare a physical flow schedule.2. Calculate equivalent units of production.3. Compute unit cost.4. Calculate the cost of goods transferred to finishing at the end of the month. Calculate thecost of ending inventory.5. CONCEPTUAL CONNECTION Assume that the masks are inspected at the end of…

Equivalent Units of Production The Converting Department of Worley Company had 1,000 units in work in process at the beginning of the period, which were 60% complete. During the period, 20,800 units were completed and transferred to the Packing Department. There were 1,120 units in process at the end of the period, which were 25% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount is zero, enter in "0". Worley Company Number of Equivalent Units of Production Inventory in process, beginning Started and completed Transferred to Packing Department Inventory in process, ending Total Whole Units Direct Materials Conversion Equivalent Units Equivalent Units

Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Middelton Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for October: All materials are added at the beginning of the process. Beginning work in process had 125,000 units, 40 percent complete with respect to conversion costs. Ending work in process had 25,000 units, 20 percent complete with respect to conversion costs. Started in process, 175,000 units.                                                                                                                          Required: Question Content Area 1. Prepare a physical flow schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method. 4. Suppose that the cost of direct materials in beginning work in process is $560,000 and that the direct materials cost incurred for October is…

Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows.   Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 6,000 100% 40% Units started this period 43,200     Units completed and transferred out 44,400     Ending work in process inventory 4,800 100% 80%   Beginning work in process inventory     Direct materials $ 39,600   Conversion 443,880 $ 483,480 Costs added this period     Direct materials 993,600   Conversion 4,331,880 5,325,480 Total costs to account for   $ 5,808,960 Assume that Tamar uses the FIFO method of process costing. The units started and completed for may total 19,200.Required:1. Prepare the Forming department’s production cost report for May using FIFO.2. Prepare the May 31 journal entry to transfer the cost of units from forming to Assembly.