Maynard's Hot Sauce uses a process costing system to determine its product's cost. The last of the three processes is packaging. The Packaging Department reported the following information for the month of July (Click the icon to view the reported information for July.) The units in ending work in process inventory were 70% complete with respect to direct materials but only 50% complete with respect to conversion Requirement Summarize the flow of physical units and compute output in terms of equivalent units in order to arrive at the missing figures (a) through (1). Maynard's Hot Sauce Packaging Department Month Ended July 31 Flow of Production Units to account for: Beginning work in process, July 1 Plus Transferred in during July Total physical units to account for Units accounted for: Completed and transferred out during July Plus: Ending work in process, July 31 Total physical units accounted for Total Equivalent Units Step 1: Flow of Physical Units 30,000 229,000 010 35,000 Step 2: Equivalent Units Direct Materials Transferred- in Conversion Costs

Maynard's Hot Sauce uses a process costing system to determine its product's cost. The last of the three processes is packaging. The Packaging Department reported the following information for the month of July (Click the icon to view the reported information for July.) The units in ending work in process inventory were 70% complete with respect to direct materials but only 50% complete with respect to conversion Requirement Summarize the flow of physical units and compute output in terms of equivalent units in order to arrive at the missing figures (a) through (1). Maynard's Hot Sauce Packaging Department Month Ended July 31 Flow of Production Units to account for: Beginning work in process, July 1 Plus Transferred in during July Total physical units to account for Units accounted for: Completed and transferred out during July Plus: Ending work in process, July 31 Total physical units accounted for Total Equivalent Units Step 1: Flow of Physical Units 30,000 229,000 010 35,000 Step 2: Equivalent Units Direct Materials Transferred- in Conversion Costs

Name: dont give handwritten answer thanku Data table123 Units to account for
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: dont give handwritten answer thanku Data table123 Units to account for:4567caMaynard's Hot Sauce Packaging DepartmentMonth Ended July 31Flow of ProductionABeginning work in process, July 1Plus: Transferred in during JulyTotal physical units to accoun

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 4BE: The Rolling Department of Kraus Steel Company had 200 tons in beginning work in process inventory...

See similar textbooks

Similar questions

Problem Compute for the equivalent units of production in each of the following cases: Case A In process, Sept. 1 Placed in process In process, Sept. 30 Case B Stage of completion Stage of completion In process, Oct 1 Case C Stage of completion Transferred to Dept Y In process, Oct. 31 Stage of completion In process, Nov. 1 Stage of completion Transferred to stockroom Placed in process In process, Nov. 30 Stage of completion Department 1 8,000 units 14 50,000 units 6,000 units 1/5 Department X 3,000 units 1/3 26,000 units 4,000 1/5 Department A ? 1/5 35,000 units 12,000 units 1/3 Department 2 5,000 units 1/10 12,000 units 1/6 Department Y 2,000 units 1/5 7,000 2/7 Department B 8,000 units 1/8 38,000 units 3,200 units 1/10
End. Work in Process Inv. % Complete as to Beg. Work Units Completed in Process Month Inv. and Transferred Out Units Conversion Cost March 2,820 39,480 11,280 75% Compute equivalent units of production for March for both materials and conversion costs using the weighted-average method of process costing. Materials are entered at the beginning of the process. Quantities Units to be accounted for Work in process inventory, 3/1 Started into production Total units to be accounted for Equivalent Units of Production Physical Units Materials Conversion Costs
Muffy Painting Company has the following production data for March. Ending Work In Process % Complete as to Month Beglnning Work In Process Units Units Converslon Cost Transferred Out March 3,000 42,000 12,000 759% Compute equivalent units of production for March for both materials and conversion costs. Materials are entered at the beginning of the process. Equlvalent Units Quantitles Physlcal Units Materlals Converslon Costs Units to be accounted for Work in process, March 1 Started into production Total units Units accounted for Transferred out Work in process, March 31 Total units
ag login ca ezto.mheducation.com/ext/map/mm 6 Homework The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion $ 41,850 4,880 431,250 237,290 Total costs to account for $ 46,730 668,540 $ 715,270 Direct Materials Conversion Percent Percent Units Complete Complete Beginning work in process inventory 4,000 100% 20% Units started this period 37,500 Completed and transferred out Ending work in process inventory 37,000 4,500 100% 60% Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Unit Reconciliation Units to account for
Goode Company has the following production data for selected months. EndingWork in Process Month BeginningWork in Process UnitsTransferred Out Units % Complete as toConversion Cost January –0– 40,300 10,300 42 % March –0– 41,800 9,000 75 July –0– 48,800 20,700 21 Compute equivalent units of production for materials and conversion costs, assuming materials are entered at the beginning of the process. Materials Conversion Costs January March July
GROUPER COMPANY Molding Department Production Cost Report For the Month Ended May 31, 2022 Equivalent Units of Production Physical QUANTITIES Units Materials Units to be accounted for Work in process, May 1 7,360 Started into production 29,440 Total units to be accounted for 36,800 Units accounted for Completed and transferred out 32,200 Work in process, May 31 4,600 Total units accounted for 36,800 COSTS Unit costs Costs in May Materials $128,800 Conversion Costs Conversion Costs $148,580 Total $277,380
Data Section: Work in process, beginning Units started during the month Work in process, ending Costs to account for. Beginning work in process Materials added Conversion costs incurred Total costs to be accounted for Beg. Work in process Started & Completed Ending Work in process Total Whole Units $ $ $ S Units 50,000 220,000 30,000 Total 100,000 176,000 597,600 873,600 Direct Mat. % Added During the Month Cost per equivalent unit Percent Conversion 30% 80% Direct Mat. Equiv. Units Direct Mat. Conversion% Added During the Month HINT: To find started and completed: Completed units - beginning inventory Started during the month - ending inventory Conversion Equiv. Units Conversion Beginning Inventory Cost assignment Direct Materials Conversion Total Amount reported on the balance sheet as Finished goods inventory Work in Process inventory
Assume the following information: Milling Department Beginning work in process inventory Units started into production during March Units completed during March and transferred to the Units 300 6,000 next department Ending work in process inventory Using the FIFO method, what is the equivalent units of production for materials? 5,800 500 Percent Complete Materials Conversion 40% 30% 100% 60% 100% 40%
Equivalent Units of Production The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Date Item August 1 Bal., 36,000 units, 3 completed 31 Direct materials, 200,000 units 31 Direct labor 31 Factory overhead 31 Goods finished, 196,000 units 31 Bal., ? units, 2 completed Debit 450,000 207,900 680,400 Line Item Description Inventory in process, August 1 Credit Whole Units 1,361,660 10 Balance Balance Debit Credit a. Determine the number of units in work in process inventory at August 31. units 207,360 657,360 865,260 1,545,660 b. Determine the equivalent units of production for direct materials and conversion costs in August. If an amount is zero, enter in "0". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For August 184,000 184,000 Equivalent Equivalent Units Direct Materials Units…
1 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 $1.30 and $1.85, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials 0 Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department 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 < The beginning work in process inventory on October 1 had a cost of $2,330. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. 62,000 62,000 5,000 67,000 3,700 62,000 65,700 2,500 68,200 G
The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory $ 34,050 3,780 Units 367,200 190,080 3,500 34,000 33,500 4,000 $ 37,830 557,280 $ 595,110 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 20% 60% Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places.
Date ACCOUNT Work in Process-Forging Department Nov. Item 1 Bal., 900 units, 60% completed 30 Direct materials, 12,900 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 1,400 units, 70% completed $ Debit 123,840 21,650 16,870 $ Credit ? ACCOUNT NO. Balance Debit Direct materials cost per equivalent unit Conversion cost per equivalent unit 10,566 134,406 156,056 172,926 ? Cost per equivalent units of $9.60 for Direct Materials and $3.00 for Conversion Costs. Based on the above data, determine each of the following amounts. ? If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning work in process inventory completed in November. Credit b. Cost of units transferred to the next department during November. $ c. Cost of ending work in process inventory on November 30. d. Costs per equivalent unit of direct materials and conversion included in the November 1 beginning work in…