Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this year's production: Units to Account For Units Materials Conversion Beginning work in process inventory 600 600 250 Started Total units to accounted for Ending inventory was 100% complete as to materials and 70% complete as to conversion, and the total materials cost is $59,840 and the total conversion cost is $37,980. Using the weighted-average method, what are the unit costs the company transferred out 19,000 units? If required, round final answers to two decimal places. Cost per unit 21,400 22,000 2.72 ✔ 1.8 ✓ Materials Conversion $ Using the weighted-average method, what is the value of the inventory transferred out and the value of the ending WIP inventory? Inventory transferred out $ 85,880 Ending WIP inventory $

Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this year's production: Units to Account For Units Materials Conversion Beginning work in process inventory 600 600 250 Started Total units to accounted for Ending inventory was 100% complete as to materials and 70% complete as to conversion, and the total materials cost is $59,840 and the total conversion cost is $37,980. Using the weighted-average method, what are the unit costs the company transferred out 19,000 units? If required, round final answers to two decimal places. Cost per unit 21,400 22,000 2.72 ✔ 1.8 ✓ Materials Conversion $ Using the weighted-average method, what is the value of the inventory transferred out and the value of the ending WIP inventory? Inventory transferred out $ 85,880 Ending WIP inventory $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Softkin Company manufactures sun protection lotion. The Mixing Department, the first process department, mixes the chemicals required for the repellant. The following data are for the current year: Work in process, January 1 — Gallons started 350,000 Gallons transferred out 294,000 Direct materials cost $700,000 Direct labor cost $1,377,600 Overhead applied $2,066,400 Direct materials are added at the beginning of the process. Ending inventory is 90 percent complete with respect to direct labor and overhead. Required: Prepare a production report for the Mixing Department for the current year. If an amount is zero, enter "0". Softkin Company Mixing Department Production Report for Current Year Unit Information Units to account for: Number of Units Units completed Units in ending WIP Total units to account for fill in the blank 5 Units accounted for: Equivalent Units Physical Flow Direct Materials Conversion Costs - Select - - Select -…
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