NUBD Co. has the following information for October: Unts started Beginning Work in Process: (35% complete) Normal spoila ge (discrete) Abnormal spoilage E nding Work in Process: (70% com plete) Transferred out 100,000 units 20,000 units 3,500 units 5,000 units 14,500 units 97,000 units Beginning Work in Process Costs: Material P15,000 10,000 Conversion All materials are added at the start of the production process. NUBD Co. inspects go ods at 75 percent com pletio n as to conversion.

NUBD Co. has the following information for October: Unts started Beginning Work in Process: (35% complete) Normal spoila ge (discrete) Abnormal spoilage E nding Work in Process: (70% com plete) Transferred out 100,000 units 20,000 units 3,500 units 5,000 units 14,500 units 97,000 units Beginning Work in Process Costs: Material P15,000 10,000 Conversion All materials are added at the start of the production process. NUBD Co. inspects go ods at 75 percent com pletio n as to conversion.

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...

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K-Briggs Company uses the FIFO method to account for the costs of production. For Crushing, the first processing department, the following equivalent units schedule has been prepared: The cost per equivalent unit for the period was as follows: The cost of beginning work in process was direct materials, 40,000; conversion costs, 30,000. Required: 1. Determine the cost of ending work in process and the cost of goods transferred out. 2. Prepare a physical flow schedule.
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