Magic Company adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of August is available. Work in process, August 1 (56% complete with respect to conversion) Started in August Completed Work in process, August 31 (77% complete with respect to conversion) 17,400 121,600 121,600 17,400 Required: a. Compute the equivalent units for materials costs and for conversion costs using the weighted-average method. b. Compute the equivalent units for materials costs and for conversion costs using the FIFO method. Equivalent Units Conversion Costs Materials a. Using the weighted-average method 139,000 O 134,998 b. Using the FIFO method 139,000 125,254

Magic Company adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of August is available. Work in process, August 1 (56% complete with respect to conversion) Started in August Completed Work in process, August 31 (77% complete with respect to conversion) 17,400 121,600 121,600 17,400 Required: a. Compute the equivalent units for materials costs and for conversion costs using the weighted-average method. b. Compute the equivalent units for materials costs and for conversion costs using the FIFO method. Equivalent Units Conversion Costs Materials a. Using the weighted-average method 139,000 O 134,998 b. Using the FIFO method 139,000 125,254

Name: Exercise 8-22 (Algo) Compute Equivalent Units (LO 8-1, 3, 5)Magic Com
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Description: Exercise 8-22 (Algo) Compute Equivalent Units (LO 8-1, 3, 5)Magic Company adds materials at the beginning of the process in Department A. The following information on physical units forDepartment A for the month of August is available.Work in proces

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 16E: Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The...

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Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September: a. All materials are added at the beginning of the process. b. Beginning work in process had 80,000 units, 30 percent complete with respect to conversion costs. c. Ending work in process had 17,000 units, 25 percent complete with respect to conversion costs. d. Started in process, 95,000 units. Required: 1. Prepare a physical flow schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method.
Production information shows these costs and units for the smoothing department in August. All materials are added at the beginning of the period. The ending work in process is 30% complete as to conversion. What is the value of the inventory transferred to finished goods and the value of the WIP inventory at the end of the month?
Exercise 8-22 (Algo) Compute Equivalent Units (LO 8-1, 3, 5) Magic Company adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of August is available. Work in process, August 1 (56% complete with respect to conversion) 17,400 Started in August 121,600 Completed 121,600 Work in process, August 31 (77% complete with respect to conversion) 17,400 Required: a. Compute the equivalent units for materials costs and for conversion costs using the weighted-average method. b. Compute the equivalent units for materials costs and for conversion costs using the FIFO method. Equivalent Units Materials Conversion Costs a. Using the weighted-average method b. Using the FIFO method
Magic Company adds materials at the beginning of the process in Department A. The following information on physical units fo Department A for the month of August is available. Mork in process, August 1 (60% complete with respect to conversion) Started in August Completed Mork In process, hugust 31 (72% complete with respect to conversion) 17,500 119,100 119,100 17,500 Required: a. Compute the equivalent units for materlals costs and for conversion costs using the weighted average method. b. Compute the equivalent units for materials costs and for conversion costs using the FIFO method. Equivalent Units Conversion Costs Materials a Using the weighted average method b Using the FIFO method
Wildhorse Company has the following production data for selected months. Month January March July January January Beginning Work in Process March July -0- -0- -0- Save for Later Materials Units Transferred Out Materials e Textbook and Media 45.500 52,000 58,500 Compute equivalent units of production for materials and conversion costs, assuming that materials are entered at the beginning of the process and that conversion costs are incurred uniformly throughout the process. Ending Work in Process Units 13,000 10,400 20.800 Compute equivalent units of production for materials and conversion costs, assuming that materials are entered at the beginning of the process and that conversion costs are incurred uniformly throughout the process. Conversion Costs % Complete as to Conversion Cost 40% Conversion Costs 75 25 4 Attempts: 0 of 1 used Submit Answer
Required information [The following information applies to the questions displayed below.] The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Direct Conversion Equivalent Units of Production Units transferred out Materials 43,500 EUP 3,500 EUP 43,500 EUP 2,100 EUP Units of ending work in process Equivalent units of production 47,000 EUP 45,600 EUP Direct Costs per EUP Costs of beginning work in process Costs incurred this period Materials $33,700 563,200 $ 596,900 Conversion $ 4,440 333,000 Total costs $ 337,440 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Units in ending work in process 3,000 44,000 43,500 3,500 Prepare…
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Show Transcribed Text Units 72,000 382,000 360,000 94,000 The production department had the cost information below. Beginning work in process inventory Direct materials Costs added this period Direct materials Conversion Total costs to account for 3 Exercise 3-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and inventory LO P1 Direct Materials Percent Complete 70% $ 167,920 38,028 80% 1,115,920 777,192 C Exercise 3-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and inventory LO P1 $ 205,948 Conversion 1,893,112 $ 2,099,060 Percent Complete a. Compute cost per…
Required Information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units started and completed Units 69,000 367,000 345,000 91,000 Equivalent units of production Percent Complete 80% 80% Exercise 16-10A (Algo) FIFO: Computing equivalent units of production LO C2 Units (a) Compute the number of units started and completed this period for the first production department. Equivalent units of production: FIFO method Direct Materials Percent Added Conversion TO Percent Complete (b) Compute the number of equivalent units of production for both direct materials and conversion for the first production depar for April using the FIFO method. 20% 30% EUP Conversion Percent Added EUP A:
Q2: Magic Company adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of August is available: Work in process, August 1 (60% complete with respect to conversion).... Started in August. Completed Work in process, August 31 (30% complete with respect to conversion). 72,000 480,000 480,000 72,000 Required 1. Compute the equivalent units for materials costs and for conversion costs using the weighted-average method. Solution
Goode Company has the following production data for selected months. Ending Work in Process Beginning Work in Process Units % Complete as to Conversion Cost Month Transferred Out Units January 36,500 10,600 44 % March 41,000 8,200 73 July 50,800 18,300 24 Compute equivalent units of production for materials and conversion costs, assuming materials are entered at the beginning of the process.
Radford Products adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of January is available. Units started in January Units completed in January Work in process, January 1 (25% complete with respect to conversion) Work in process, January 31 (40%- complete with respect to conversion) Required: a. Compute the equivalent units for materials costs and for conversion costs using the weighted average method. b. Compute the equivalent units for materials costs and for conversion costs using the FIFO method. Answer is not complete. a Using the weighted average method b. Using the FIFO method Equivalent Units Materials 1,008,500 905,000 929,000 103,500 79,500 Conversion Costs 900,800
Required Information Problem 8-57 (Static) Compute Equivalent Units (LO 8-1, 3, 5) [The following information applies to the questions displayed below.] Select the best answer for each of the following independent multiple-choice questions. Problem 8-57 (Static) Part a Required: a. Hillger Paints production cycle starts in Department A. The following Information is available for April: Work in process, April 1 (30% complete) Started in April Work in process, April 30 ( 70% complete) Materials are added at the beginning of the process in Department A. Using the weighted-average method, what are the equivalent units of production for the month of April? Multiple Choice Materials 343,000; Conversion 368,500 Materials 343,000: Conversion 387100 Materials 450,000; Conversion 412,500 Materials 450,000; Conversion 431,100 Units 85,000 365,000 63,000 None of the options are correct