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Following is information about the assembly department of a company: 1. There were 203,700 units in work in process inventory on August 1. With respect to units transferred in, 100% were complete and costs incurred amounted to $126,500. With respect to conversion, 80% of the units were complete and costs incurred amounted to $56,200. 2. 513,400 units were transferred in from the cutting department during August. 3. 586,100 units were completed during August and transferred to the finished goods inventory. 4. During August, costs incurred were as follows: $511,719 for units transferred in from cutting, $474,741 for direct materials used, and $147,140 for conversion costs. 5. There are 131,000 units in work in process inventory on August 31. With respect to the units transferred in, 100% are complete and 70% are complete with respect to conversion. Prepare a production cost report. (Round unit costs to 7 decimal places, e.g. 0.1287345 and all other answers to 0 decimal places, e.g. 5,275.) Transferred in Direct Materials Conversion costs Totals Units to be accounted for: Work in process inventory, Aug. 1 enter a number of units Units transferred in enter a number of units enter a total number of units Units accounted for: Transferred out enter a number of units enter a number of units enter a number of units Work in process inventory, Aug. 31 enter a number of units enter a number of units enter a number of units enter a total number of units enter a total number of units enter a total number of units Costs in August $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount Equivalent units enter a number of units enter a number of units enter a number of units Unit cost $enter a dollar amount rounded to 7 decimal places $enter a dollar amount rounded to 7 decimal places $enter a dollar amount rounded to 7 decimal places $enter a dollar amount rounded to 7 decimal places Costs to be accounted for: Work in process inventory, Aug. 1 $enter a dollar amount Started into production enter a dollar amount $enter a total amount Costs to be accounted for Completed and transferred out $enter a dollar amount Work in process inventory, Aug. 31 Transferred in $enter a dollar amount Conversion costs enter a dollar amount Total costs accounted for $enter a total amount
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- During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 52,000 were in process in the production department at the beginning of April, and 210,000 were started and completed in April. April's beginning inventory units were 40% complete with respect to materials and 60% complete with respect to labor. At the end of April, 58,000 additional units were in process in the production department and were 70% complete with respect to materials and 50% complete with respect to labor. Compute the number of units transferred to finished goods.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_forwardNeed help with this Questionarrow_forward
- Information about units processed and processing costs incurred during a recent month in the Blending Department of a manufacturing company follow: Number of Units Conversion Costs (Percent Completion) 11,000 120,000 114,000 17,000 Beginning work in process inventory Units started into production Units completed and transferred out Ending work in process inventory The beginning work in process inventory included $11,000 of conversion cost and $12,000 in material costs. During the month, the Department incurred an additional $290,000 in conversion costs and $143,000 in material costs. All materials are added at the beginning of production in each department. Multiple Choice 35% If the company uses the weighted-average cost method, what are the equivalent units of production for conversion costs for the Blending Department for the month? 114,000 units. 30% 119,100 units.arrow_forwardS Inc.'s Assembly Department had the following information at July 31. All direct materials are added at the end of the conversion process. The units in ending work in process inventory were only 44% of the way through the conversion process. Equivalent Units Physical Direct Conversion Units Materials Costs Units accounted for: Completed and transferred out Ending work in process, August 31 Total physical units accounted for: Total equivalent units 145,000 25,000 170,000 Compute the total equivalent units of direct materials and conversion costs for the month. a. Equivalent units for direct materials are 120,000 and for conversion costs are 131,900 b. Equivalent units for direct materials are 145,000 and for conversion costs are 156,000 c. Equivalent units for direct materials are 145,000 and for conversion costs are 170,000 d. Equivalent units for direct materials are 170,000 and for conversion costs are 156,000arrow_forwardIn July, the cost of materials transferred into the Rolling Department from the Casting Department of Oak Ridge Steel Company is $544,900. The conversion cost for the period in the Rolling Department is $116,900 ($68,900 factory overhead applied and $48,000 direct labor). The total cost transferred to Finished Goods for the period was $590,000. The Rolling Department had a beginning inventory of $26,500. a1. Journalize the cost of transferred-in materials. fill in the blank 16e838059fb9033_2 fill in the blank 16e838059fb9033_4 a2. Journalize the conversion costs. If an amount box does not require an entry, leave it blank. fill in the blank a2acba089f98fcb_2 fill in the blank a2acba089f98fcb_3 fill in the blank a2acba089f98fcb_5 fill in the blank a2acba089f98fcb_6 fill in the blank a2acba089f98fcb_8 fill in the blank a2acba089f98fcb_9 a3. Journalize the costs transferred out to Finished Goods. fill in the…arrow_forward
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