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Frozen Inc. adds materials at the beginning of the process in department USB. Conversion costs were 70% complete as to the 9,500 work-in-process units on September 1 and 40% incomplete as to the 7,000 work-in-process units on September 30. During September, 12,000 units were completed and transferred to the next department. An analysis of the cost relating to work-in-process on September 1 and to production activity for September is as follows:
Work-in-process, September 1
Materials P10,000
Conversion Costs P12,000
Costs incurred during September
Materials P45,000
Conversion Costs P60,000
The total cost per equivalent unit for September under WAM is:
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- The cost data and production data for Beth Company for the month of August were as follows:Cost Data:Work in process, August 1: Materials 52,000 Cost added this month: Materials 600,000Conversion costs 69,000 Conversion costs 1,602,000Production Data:Work in process, August 1 (60% complete) 9,375 units Work in process, August 31 (30% to be done) 16,250 unitsStarted in production this August 100,000 units Normal lost units 1,375 unitsTransferred out 90,625 units Abnormal lost units ?All materials are added at the start of the process and lost units are detected at the inspection point of 75% completion.Requirement:1. Using the FIFO method, what are the cost assigned to units transferred out and units in ending work in process?2. Using the average method, what are the cost assigned to units transferred out and units in ending work in process?3. Using FIFO and weighted average, what is the amount that shall be expensed as incurred?arrow_forwardProduction costs chargeable to the Finishing Department in June in Hollins Company are materials $15,428, labor $39,952, overhead $18,800. Equivalent units of production are materials 20,300 and conversion costs 19,200. Production records indicate that 18,100 units were transferred out, and 2,200 units in ending work in process were 50% complete as to conversion costs and 100% complete as to materials. Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, eg. 2.25 and final answers to O decimal places, e.g. 125.) Cost Reconciliation Cost accounted for Transferred out Work in process Materials Conversion costs Total cost accounted for e Textbook and Media Save for Later M debe alhilling 64 $ 1530 25 25 Attempts: 0 of 2 used Submit Apcworarrow_forwardThe Kirkland Department of Delta Company began the month of December with beginning work in process of 4,000 units that are 80% complete as to materials and 20% complete as to conversion costs. Units transferred out are 12,000 units. Ending work in process contains 2,000 units that are 80% complete as to materials and 60% complete as to conversion costs. Compute the equivalent units of production for materials using the FIFO method? a-10,000 b-12,000 c-12,400 d-10,400 e-12,800arrow_forward
- Data for June are as follows for Superior Corp., which uses FIFO process costing: Units Beginning work in process 5,600 Units started in process 114,000 Costs Beginning work in process: Materials $18,500 Conversion $3,700 June's costs: Materials $444,300 Conversion 190,700 All materials are added at the…arrow_forwardJohnson Company adds materials, 50% at the start of the process and 50% at the end of the process in Department A. Conversion costs were 70% complete as to the 8,000 units in process on January 1 and 50% complete as to the 6,000 units in process on January 31. During the month of January, 12,000 units were transferred to Department B. An analysis of the costs relating to Work in Process is as follows:Work in process, 1/1: Materials, P12,000; Conversion costs, P25,000Costs added during the month: Materials, P79,800; Conversion costs, P125,000The cost of ending inventory under WAM (weighted average method) is:arrow_forwardLazada Inc. adds materials at the beginning of the process in department USB. Conversion costs were 70% complete as to the 9,500 work-in-process units on September 1 and 40% incomplete as to the 7,000 work-in-process units on September 30. During September, 12,000 units were completed and transferred to the next department. An analysis of the cost relating to work-in-process on September 1 and to production activity for September is as follows: Work-in-process, September 1Materials P10,000Conversion Costs P12,000Costs incurred during SeptemberMaterials P45,000Conversion Costs P60,000The total cost per equivalent unit for September under FIFO is:arrow_forward
- The Cutting department of Heart Corporation in the month of March started with beginning work in process of 4,000 units that are 100% complete as to materials and 30% complete as to conversion costs. Units transferred out are 10,000 units. Ending work in process contains 1,000 units that are 100% complete as to materials and 60% complete as to conversion costs. Instructions: Compute the equivalent units of production for materials and conversion costs for the month of March. Compute the equivalent units of production for materials and conversion costs for the month of March.arrow_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_forwardIn the month of March, a department had 7500 units in beginning Work in Process Inventory that were 80% complete. During March, 30300 units were transferred into production from another department. At the end of March there were 2500 units in ending Work in Process Inventory that were 80% complete. Direct materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. The weighted-average method is used. How much are equivalent units of production for direct materials for March? O 37300 equivalent units of production O 28300 equivalent units of production 37800 equivalent units of production 40300 equivalent units of productionarrow_forward
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