Overton Company has gathered the following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials Cost of beginning work in process, plus costs incurred during the period: Direct materials Direct labor Overhead (a) Question Part Score (b) Question Part Score (c) Completed and transferred out $ Ending work in process 20,000 $ 164,000 24,000 60 % 100 % Show the assignment of costs to units completed and transferred out and to work in process at the end of the period. $101,200 $164,800 $184,000 2/2 --/2

Vinubhai

I need to finish with these three questions and need help please. Journalize the entries for costs transferred from Milling to Sifting and the costs transferred from Sifting to Packaging.      2. Determine the increase or decrease in the cost per equivalent unit from June to July for direct materials and conversion costs.   3.Discuss the uses of the cost of production report and the results of part (c).

The following details are provided for a company operating a process costing system: - Process 1 Opening work in process (WIP)                                                         Nil Units introduced into the process                                                 15,000 Units completed and transferred to next Process 2                    10,000 Closing WIP (50% complete)                                                         5,000 Materials cost (introduced at start of process)                              70,000 Conversion cost                                                                            50,000 Process 2 Opening WIP                                                                                      Nil Units transferred from Process 1                                                  10,000 Closing WIP (50% complete)                                                         1,000 Completed units transferred to finished goods stock                     9,000 Previous…

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Alpesh

Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Required: Using the FIFO method: a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month. Work in process, beginning: Units in process Percent complete with respect to materials Percent complete with respect to conversion Costs in the beginning inventory: Materials cost Conversion cost Units started into production during the month Units completed and transferred out Costs added to production during the month: Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent…

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Prepare a Production Cost Report Troika Company The production information for Troika's Smoothing department for August is as follows: Work in process Beginning balance: materials Beginning balance: conversion Materials Labor Overhead Cost $ 1,550 2,500 7,441 14,520 7,930 Beginning units Transferred in Transferred in Transferred out Units 650 1,780 1,810 All materials are added at the beginning of the period. The ending work in process is 30% complete as to conversion. Prepare a production cost report for August for the Smoothing Department.

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