Golding's finishing department had the following data for July:   Transferred-In   Materials   Conversion Units transferred out 60,000   60,000   60,000 Units in EWIP 11,000   11,000   13,000   Equivalent units 71,000   71,000   73,000 Costs:             Work in process, July 1:               Transferred-in from fabricating $2,100             Materials 1,500             Conversion costs 3,000               Total $6,600           Current costs:               Transferred-in from fabricating $30,900             Materials 22,500             Conversion costs 45,300               Total $98,700         Required: 1.  Calculate unit costs for the following categories: transferred-in, materials, and conversion. Round your answers to the nearest cent. Unit transferred-in cost $ Unit materials cost $ Unit conversion cost $ 2.  Calculate total unit cost. Round your answer the nearest cent.

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $0.55 and $1.25, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Equivalent Units Conversion Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Total units to be assigned costs 0 5,400 67,000 67,000 67,000 72,400 6,000 73,000 2,400 74,800 The beginning work in process inventory on October 1 had a cost of $3,670. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department

Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 6,000 units, 55% completed 15,000 To Finished Goods, 138,000 units ? Direct materials, 141,000 units @ $1.4 197,400     Direct labor 207,100     Factory overhead 80,495     Bal., ? units, 25% completed ?     Cost per equivalent units of $1.40 for Direct Materials and $2.10 for Conversion Costs.   a.  Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1.  Cost of beginning work in process inventory completed this period $fill in the blank 1 2.  Cost of units transferred to finished goods during the period $fill in the blank 2 3.  Cost of ending work in process inventory $fill in the blank 3 4.…

Subject: acounting

The costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $0.55 and $0.60, respectively. The equivalent units to be assigned costs are as follows:   Equivalent Units   Direct Materials Conversion Inventory in process, beginning of period 0 2,200     Started and completed during the period 55,000 55,000     Transferred out of Filling (completed) 55,000 57,200     Inventory in process, end of period 6,000 1,800     Total units to be assigned costs 61,000 59,000     The beginning work in process inventory had a cost of $1,390. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar. Completed and transferred out of production $ Inventory in process, ending $

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak Ridge Steel Company are $1.05 and $0.80, respectively. The equivalent units to be assigned costs are as follows:   Equivalent Units   Direct Materials Conversion Inventory in process, July 1 0   3,500   Started and completed during July 50,000   50,000   Transferred out of Rolling (completed) 50,000   53,500   Inventory in process, July 31 5,000   2,000   Total units to be assigned costs 55,000   55,500   The beginning work in process inventory on July 1 had a cost of $2,000. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production $fill in the blank 1 Inventory in process, ending $fill in the blank 2 Total costs assigned by the Rolling Department $fill in the blank 3

The following details are provided for a company operating a process costing system: - Process 1 Opening work in process (WIP)                                                         Nil Units introduced into the process                                                 15,000 Units completed and transferred to next Process 2                    10,000 Closing WIP (50% complete)                                                         5,000 Materials cost (introduced at start of process)                              70,000 Conversion cost                                                                            50,000 Process 2 Opening WIP                                                                                      Nil Units transferred from Process 1                                                  10,000 Closing WIP (50% complete)                                                         1,000 Completed units transferred to finished goods stock                     9,000 Previous…

Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 7,000 units, 35% completed 15,225 To Finished Goods, 161,000 units Direct materials, 165,000 units @ $1.3 214,500 Direct labor 318,900 Factory overhead 124,035 Bal. ? units, 50% completed a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. $ 1. Cost of beginning work in process inventory completed this period. $ 2. Cost of units transferred to finished goods during the period. 3. Cost of ending work in process inventory. 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? c. Assuming that the direct materials…

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.

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $1.70 and $2.40, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials 0 Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Total units to be assigned costs 72,000 The beginning work in process inventory on October 1 had a cost of $2,900. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department 65,000 65,000 7,000 Equivalent Units Conversion 4,600 65,000 69,600 S 2,800 72,400