Northern Company processes 100 gallons of raw materials into 75 gallons of product GS-50 and 25 gallons of GS-80. GS-50 is further processed into 50 gallons of product GS-505 at a cost of $6,200, and GS-80 is processed into 50 gallons of product GS-805 at a cost of $4,175.   The production process starts at point 1. A total of $20,000 in joint manufacturing costs are incurred in reaching point 2. Point 2 is the split-off point of the process that manufactures GS-50 and GS-80. At this point, GS-50 can be sold for $550 a gallon, and GS-80 can be sold for $110 a gallon. The process is completed at point 3—products GS-505 and GS-805 have a sales price of $550 a gallon and $190 a gallon, respectively. Required: Allocate the joint product costs and then compute the cost per unit using each of the following methods: (1) physical measure, (2) sales value at split-off, and (3) net realizable value. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)         GS-50 Cost per Unit GS-80 Cost per Unit Total Cost per Unit 1) Physical Measure       2) Sales Value at Split-off       3) Net Realizable Value

Rare Bhd. produces 'Rare Q' in a lengthy mixing and cooling process. Base materials are introduced at the start of this process, and further chemicals are added when it is 80% complete. Each kilogram of base materials produces 1 kilogram of Rare Q. Data for October are: Opening work in process: 40 kg of base materials, 25% processed Cost of opening work in process: Base materials RM1,550 Processing RM720 Costs incurred in October: Conversion costs RM6,864 Further chemicals RM7,200 Closing work in process: 50kg of base materials, 90% processed Finished output: 65 kg of Rare Q. Under normal conditions there are no losses of base materials in this process. However, in October, 5kg of partially complete Rare Q were spoiled immediately after the further chemicals had been added. The 5kg of spoiled Rare Q were not processed to finished goods stage and were sold for a total of RM200. Using the FIFO method, calculate the value of Cost of conversion cost per equivalent unit. Question 10Answer…

Klassen Toy Company, Inc., assembles two parts (parts 1 and 2): Part 1 is first processed at workstation A for 10 minutes per unit and then processed at workstation B for 15 minutes per unit. Part 2 is simultaneously processed at workstation C for 12 minutes per unit. Work stations B and C feed the parts to an assembler at workstation D, where the two parts are assembled. The time at workstation D is 20 minutes. a) The bottleneck of this process is workstation D at 20 minutes per unit (enter your response as a whole number). b) The hourly capacity of the process is units (enter your response as a whole number).

Kramer Corp. began the current period with 4,030 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,500 in direct materials and $4,720 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 20,100 units completed and 5,010 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $68,000 in direct materials costs, $7,190 in direct labor costs, and $40,100 in manufacturing overhead costs during the period.

GFIM Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000, $60,000, and $70,000, respectively. Department 2 has transferred-in costs of $390,000 for the current period. In addition, work in process at the beginning of the period for Department 2 totaled $75,000, and work in process at the end of the period (for Dept. 2) totaled $90,000. The journal entry to record the flow of costs into Department 3 during the period is: DEBIT WIP-Dept. 3 for 375,000 and CREDIT WIP-Dept. 2 for 375.000 ODEBIT WIP-Dept. 3 for 570,000 and CREDIT WIP-Dept. 2 for 570.000 ODEBIT WIP-Dept. 3 for 490,000 and CREDIT WIP-Dept. 2 for 490.000 DEBIT WIP-Dept. 3 for 555,000 and CREDIT…

Lovell Variety Seeds mass produces wildflower seed packs. Relevant information used for the process costing system is provided below:    Beginning physical units 2,300 Physical units started 22,600  Units in ending WIP  9,500, 40% complete Beginning costs $3,100 Added direct materials costs $12,000 Added direct labor costs $19,500 Added manufacturing overhead costs $8,600   What is the costs completed and transferred out? Please round your answer to the nearest whole dollar.

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Cullumber Company completes and transfers out 15,360 units and has 2,560 units of ending work in process that are 25% complete as to conversion costs. Materials are entered at the beginning of the process, and there is no beginning work in process. Cullumber uses the FIFO method to compute equivalent units. Assuming unit materials costs of $3 and unit conversion costs of $7, what are the costs to be assigned to units (a) completed and transferred out and (b) in ending work in process? (a) Completed and transferred out (b) Ending work in process tA $ tA $ Costs to be assigned

Haas Company manufactures microchips on a highly automated assembly line. Haas's costing system uses two cost categories, direct materials, and conversion costs. Direct Materials are added at the beginning of the production process. Conversion costs are added evenly throughout the production. Cost Beginning WIP 20,000 Units Direct Materials $126,600 $77,150 Conversion (35% Complete) Started 72,000 Units $604,800 $385,090 Direct Materials Conversion Ending WIP 14,000 Units (60% Complete) Calculate Haas's physical flow of units, equivalent units, cost plequivalent unit and assign costs to Finished Goods and Ending Work-in-Process Inventories using the Weighted Average method of processing costing.