Murray Chemical Company refines a variety of petrochemical products. These data are from the firm's Houston plant: Work-in-process inventory, September 1 Direct materials Conversion Units started in process during September Work-in-process inventory, September 30 Direct materials Conversion 4,760,000 gallons 50% completed 20% completed 6,320,000 2,890,000 gallons gallons 40% completed 60% completed Required: 1. Compute the equivalent units of direct materials and conversion for the month of September using the weighted-average method. 2. Compute the equivalent units of direct materials and conversion for the month of September using the FIFO method. Complete this question by entering your answers in the tabs below.

Subject: acounting

The Bottling Department of Mountain Springs Water Company had 5,000 liters in beginning work in process inventory (20% complete). During the period, 58,000 liters were completed. The ending work in process inventory was 3,000 liters (90% complete). What are the equivalent units for conversion costs under the FIFO method? equivalent units for conversion costs

Hook Bait Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2020 are provided below:     Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 3,400 85 87 Work-in-process inventory — June 30 4,700 60 37 Started processing during June 9,600       Total equivalent units for materials under the weighted-average method are calculated to be:   Multiple Choice   10,496 equivalent units.   8,010 equivalent units.   11,120 equivalent units.   7,865 equivalent units.   10,039 equivalent units.

The Converting Department of Soft Touch Towel and Tissue Company had 840 units in work in process at the beginning of the period, which were 60% complete. During the period, 17,600 units were completed and transferred to the Packing Department. There were 960 units in process at the end of the period, which were 75% complete. Direct materials are placed into the process at the beginning of production. Soft Touch Towel and Tissue Company Number of Equivalent Units of Production Whole Units Direct Materials Conversion Equivalent Equivalent Units Units Inventory in process, Beginning Started and Completed Transferred to Packing Department Inventory in process ending Tatal

Stone Company produces carrying cases for CDs. It has compiled the following information for the month of June: Physical Units Percent Complete for Conversion Beginning work in process 68,000 55% Ending work in process 91,000 70% Stone adds all materials at the beginning of its manufacturing process. During the month, it started 178,000 units.   Required:   Using the FIFO method, reconcile the number of physical units. Using the FIFO method, calculate the number of equivalent units.

Dover Chemical Company manufactures specialty chemicals by a series of three processes, all materials being introduced in the Distilling Department. From the Distilling Department, the materials pass through the Reaction and Filling departments, emerging as finished chemicals. The balance in the account Work in Process—Filling was as follows on January 1: Work in Process—Filling Department     (4,000 units, 70% completed):          Direct materials (4,000 x $12.50)    $50,000     Conversion (4,000 x 70% x $8.10)    22,680     $72,680The following costs were charged to Work in Process—Filling during January: Direct materials transferred from Reaction          Department: 51,600 units at $12.30 a unit    $634,680Direct labor    215,540Factory overhead    207,080During January, 51,200 units of specialty chemicals were completed. Work in Process—Filling Department on January 31 was 4,400 units, 30% completed. Required: Question Content Area1.  Prepare a cost of production report for the…

Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows.   Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 6,000 100% 40% Units started this period 43,200     Units completed and transferred out 44,400     Ending work in process inventory 4,800 100% 80%   Beginning work in process inventory     Direct materials $ 39,600   Conversion 443,880 $ 483,480 Costs added this period     Direct materials 993,600   Conversion 4,331,880 5,325,480 Total costs to account for   $ 5,808,960 Assume that Tamar uses the FIFO method of process costing. The units started and completed for may total 19,200.Required:1. Prepare the Forming department’s production cost report for May using FIFO.2. Prepare the May 31 journal entry to transfer the cost of units from forming to Assembly.

Hook Bait Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2020 are provided below:     Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 1,500 90 80 Work-in-process inventory — June 30 2,800 60 40 Started processing during June 7,800       Total equivalent units for materials under the FIFO method are calculated to be:   Multiple Choice   6,830 equivalent units.   8,180 equivalent units.   6,980 equivalent units.   7,140 equivalent units.   7,620 equivalent units.