Inventories: March 1 March 31 Raw material P18,000 P15,000 Work in process 9,000 6,000 Finished goods 27,000 36,000 Additional information for March: Raw material purchased P42,000 Direct labor payroll 30,000 Direct labor rate per hour 7.50 Overhead rate per direct labor hour 10.00   Required a. prime cost incurred b.conversion cost incurred c. Cost of Goods Manufactured

Q: What is the Direct Materials Cost Per Equvalent Unit? What is the Conversion cost per equivalent…

A: Actual Units Equivalent Units Opening WIP (40%)1200480Completed&transferred74007400Closing WIP…

Q: The following information about the work-in-process inventory pertains to the Remington Plant for…

A: FIFO METHOD :— Under this method, equivalent units are calculated by adding equivalent units in…

Q: terial used in production in October Actual output in October $ 30.10 per ounce 2,650 ounces 2,190…

A: Inventory, based on its intended use and where it is in the manufacturing or distribution process.…

Q: Required information Problem 19-1A Production costs computed and recorded; reports prepared LO P1,…

A: The total cost of jobs finished but unsold at year end is recorded as finished goods in the balance…

Q: During December, Rian Company's Department B equivalent unit product costs, computed under the…

A: The information gave the question: The prices of the Following: Materials: P1Conversion:…

Q: Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct…

A: Direct material cost is the cost of raw material produced or purchased to produce the final…

Q: 1-Jul 31-Jul Raw materials inventory $5,000 Work in process inventory ? $4,000 Finished goods…

A: Cost sheet is a method of allocating total cost into different categories such as direct material…

Q: During the month of June the work in process inventory has decreased by $15,000 while the finished…

A: The manufacturing cost of a product includes direct material costs, direct labour costs and…

Q: Units Completion Cost Work in process inventory: December 1 12,000 60% $140,400 December 31 5,000…

A: Cost accounting is one of the important branches of accounting. Under this branch, all type of costs…

Q: eginning WIP Inventory 3,000 Transferred in                    18,500 Ending WIP Inventory…

A: A production cost report specifies the complete cost of creating a product, including raw materials…

Q: Complete this production cost report: Enter all amount as positive values. If required round "Cost…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: Appendix EX 20-28 Cost per equivalent unit: average cost method The following information concerns…

A: (a) The calculation of number and cost per equivalent units is as follows: Number of Equivalent…

Q: 19 WIP, June 1, 3,800 pounds Direct materials added during June, 32,000 pounds Conversion costs…

A:

Q: Work in process inventory, May 1 Work in process inventory, May 31 Materials cost in work in process…

A: Note; As per our guidelines, only the first three sub-parts will be answered.   Reconcile the number…

Q: ork in process inventory, May 1 fork in process inventory, May 31 laterials cost in work in process…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: Cost of Goods Sold Finished Goods Process 61,880 OMR 8,450 OMR3,440 OMR Direct materials Direct…

A: Total manufacturing overhead applied = 3300 + 6050 + 45000 = 54350

Q: d 10 S O AIR ollowing information concerns production in the Baking Depa ACCOUNT Work In…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: Question Content Area Department M had 2,800 units 52% completed in process at the beginning of…

A: The objective of the question is to calculate the number of equivalent units of production for…

Q: 2. Macho Manufacturing Company, using FIFO process cost system, has the following data for the month…

A: In case of FIFO method opening inventory will be sold first.

Q: Units Beginning inventory Started during the month Total units to account for Completed and…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: Equivalent Units of Production The following information concerns production in the Baking…

A: To determine the equivalent units of production (EUP) for direct materials and conversion costs,…

Q: Date Item Debit Credit August 1 Bal., 5,100 units, 2/5 completed 31 Direct materials, 91,800 units…

A: The process costing is followed when a company manufactures the homogeneous products in bulk.It is…

Q: Finished Goods Materials Beg. 120,000 960,000 Work in Process 160,000 3,760,000 720,000 1,200,000…

A: The cost of goods manufactured includes the costs incurred to get the goods completed during the…

Q: Direct materials Direct labor Standard Quantity or Hours 6.80 pounds 0.50 hours Standard Price or…

A: Variances is the amount of difference between the actual values and the values estimated by the…

Q: Percent Complete for Direct Percent Complete for Assembly Department Units Materials Beginning work…

A: FIFO METHOD :— Under this method, equivalent units are calculated by adding equivalent units in…

Q: Question 3 A product is manufactured by passing materials through two processes. Production costs…

A: Process Costing- Process costing is a method of allocating manufacturing costs to the number of…

Q: Milling Department Cost of beginning work in process inventory Costs added during the period Total…

A: Materials Conversion  Total cost $301,600  $408,000   / Equivalent units / 5,200  / 5,000…

Q: Completed and transferred out Ending Work-in-Process Cost per EUP sum nary rep Direct Materials…

A: The total cost is calculated as the number of units multiplied by cost per equivalent unit. The…

Q: Percent Complete Units Materials 100% 100% Conversion Work in process inventory, May 1 Work in…

A: Since you have posted a question with multiple sub-parts , we will do the first three sub-parts for…

Q: Elmo has the following information for the month of October, its first month of operations Work in…

A: Equivalent  units or Equivalent  full units is the term used in process costing

Q: Indicate the amounts requested below. Some amounts are shown in the illustrated T accounts; others…

A: The question is based on the concept of Cost Accounting. As per the Bartleby guidelines we are…

Q: a. Prepare a schedule of the cost of finished goods manufactured. (Not all of the data given above…

A: Please see step 2 for required information.

Q: Physical Units Data Beginning Work in Process Units Started to WIP 15,000 units 60,000 units Ending…

A: Process costing: It is a type of costing method, where the direct costs are accumulated and indirect…

Q: Raider Corporation uses the weighted average method in its process costing system. The Molding…

A: Conversion cost can be calcualted by multiplying equivalent units of production with the allocation…

Q: units               conversion…

A: a. Compute total equivalent units of production for conversion for month as shown below:…

Q: 82 Q2 Selected ledger accounts for Realm Company are given below for the just-completed year: Bal.…

A: Step 1:Q2.[5]Unadjusted Cost of goods sold =Beginning FG + cost of goods manufactured-ending…

Q: Knowledge Check July production costs of Gem's Packaging Department in June are: Materials $8,050…

A: The equivalent units are calculated on the basis of the percentage of the work completed during the…

Q: Inventory, May 1 Materials Conversion Inventory, May 31 21,800 133,400 225,500 ? to the Mixing…

A: The equivalent units are calculated on the basis of the percentage of the work completed during the…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.