Problem 4 - Average with Lost UnitsProblem 4The Salty Mfg. Co. operates three producing departments, A, B and C. It uses theweighted average costing method. The following data are on the production ofDepartment B for October, 2021:TransferInAdded in Department BMaterials Conversion(In pesos) Cost (PhP)Unitsin Pesos)In process, Oct. 1Received from Department ATotal5,00020,00025,00019,0001,0009,99039,0101,02021,85599821,877Transferred outNormal LossAbnormal lossIn process, Oct. 31Factory costs are applied evenly throughout the process. Beginning work inprocess was 20% done while ending work in process is X done. Abnormal lossoccurred at the end of the process. What should be the accumulated cost of workin process as of October 31 if the normal loss occurred during the process (withadjustment for lost units based on the remaining good units?4,500Your answer

As the company uses Weighted Average Cost method for computing cost, The cost of opening Work in…

Problem 4 The Salty Mfg. Co. operates three producing departments, A, B and C. It uses the weighted average costing method. The following data are on the production of Department B for October, 2021: Added in Department B Materials Conversion (In pesos) Cost (PhP) Transfer Units In (in Pesos) In process, Oct. 1 Received from Department A Total 5,000 9,990 1,020 21,855 998 20,000 25,000 19,000 39,010 21,877 Transferred out Normal Loss Abnormal loss 1,000 500 In process, Oct. 31 Factory costs are applied evenly throughout the process. Beginning work in process was 20% done while ending work in process is % done. Abnormal loss occurred at the end of the process. What should be the accumulated cost of work in process as of October 31 if the normal loss occurred during the process (with adjustment for lost units based on the remaining good units? 4,500

Problem 4 The Salty Mfg. Co. operates three producing departments, A, B and C. It uses the weighted average costing method. The following data are on the production of Department B for October, 2021: Added in Department B Materials Conversion (In pesos) Cost (PhP) Transfer Units In (in Pesos) In process, Oct. 1 Received from Department A Total 5,000 9,990 1,020 21,855 998 20,000 25,000 19,000 39,010 21,877 Transferred out Normal Loss Abnormal loss 1,000 500 In process, Oct. 31 Factory costs are applied evenly throughout the process. Beginning work in process was 20% done while ending work in process is % done. Abnormal loss occurred at the end of the process. What should be the accumulated cost of work in process as of October 31 if the normal loss occurred during the process (with adjustment for lost units based on the remaining good units? 4,500

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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Problem 4 The Salty Mfg. Co. operates three producing departments, A, B and C. It uses the weighted average costing method. The following data are on the production of Department B for October, 2021: Added in Department B Transfer Materials Conversion Units In (In pesos) Cost (PhP) In process, Oct. 1 Received from Department A Total 5,000 20,000 25,000 19,000 (in Pesos) 9,990 39,010 1,020 21,855 998 21,877 Transferred out Normal Loss 1,000 Abnormal loss 500 In process, Oct. 31 Factory costs are applied evenly throughout the process. Beginning work in process was 20% done while ending work in process is % done. Abnormal loss occurred at the end of the process. What should be the accumulated cost of work in process as of October 31 if the normal loss occurred during the process (with adjustment for lost units based on the remaining good units? 4,500
Problem 4 - Average with Lost Units The Salty Mgf. Co. operates three producing departments A, B and C. It uses the weighted average costi8ng method . The following data are on the production of Department B for October, 2021: Added in Department B Units Transfer in Materials Conversion (in Pesos) (in Pesos) Cost (PhP) In process, Oct. 1 5,000 9,990 1,020 998 Received from Department A 20,000 39,010 21,855 21,877 Total 25,000 Transferred out 19,000 Normal Loss…
Q. 2: For the month of January 2022, the production control department of XYZ Inc., reported the following production data for Department 2: Transferred in from Department 1.. Transferred out to Department 3 In process at the end of January (with 1/3 material, ½ labor and FOH)... 60,000 units .52,000 units .6,000 units Page 1 of 2 The Cost Department collected these figures for Department 2: Unit cost for units transferred in from Department 1.. Material cost in Department 2. Labor cost in Department 2.. Factory Overhead.. 19.20 492,100 465,310 470,590 Required: Cost of Production Report of Department 2 for January 2022.
1. Information for the month of January concerning Department A, the first stage of Angeles Company's production cycle, is as follows: Materials P 8,000 40,000 P 48,000 100,000 P0.48 Conversion BWIP Current Costs Total Costs P 6,000 32,000 P 38,000 95,000 P 0.40 EUP using weighted average method Average unit costs Goods completed -90,000 units 10,000 units --- EWIP ---- Materials are added at the beginning of the process. The ending WIP is 50% complete as to conversion costs. a. How would the total costs accounted for be distributed to GOODS COMPLETED, using the weighted average method? b. How woluld the total costs accounted for be distributed to ENDING WIP, using the weighted average method?
Allocating Service Department Costs: Allocation Basis Alternatives Weld-Rite Fabricators has two producing departments, P1 and P2, and one service department, S1. Estimated directed overhead costs per month are as follows: P1 $450,000 P2 750,000 $1 273,000 Other data follow: Numbers of employees Production capacity (units) Space occupied (square feet) Five-year average of $1's service output used P1 P2 150 50 100,000 60,000 5,000 15,000 65% 35% For each of the following allocation bases, determine the total estimated overhead cost for P1 and P2 after allocating 51 cost to the producing departments. 1. Based on number of employees $ P1 P2 $ 2. Production capacity in units 3. Space occupied 4. Five-year average of $1 service used 627,450✔ 845,550✔ 5. Estimated direct overhead costs
PROBLEM 2 Department A is the first stage of Mann Company's production cycle. The following information is available for conversion costs for the month of April 2011: UNITS Work in process, beginning (60% complete) Started in April Completed in April and transferred to Department B Work in process, ending (40% complete) 20, 000 340, 000 320, 000 40, 000 1. The equivalent units for the conversion cost calculation under FIFO method is 2. The equivalent units for the conversion cost calculation under average method is
Current Attempt in Progress Production costs chargeable to the Sanding Department in July in Monty Company are $41,160 for materials, $14,700 for labor, and $12,740 for manufacturing overhead. Equivalent units of production are 29,400 for materials and 19,600 for conversion costs. Compute the unit costs for materials and conversion costs. (Round answers to 2 decimal places, e.g. 15.25.) Unit costs $ Materials $ Conversion Costs
PROBLEM 16: Cost of Production Report Spiderman Corp. has two departments. The following are the data of the two departments. Quantity Beginning WIP October 1 Incomplete as to materia Complete as to conversion cost Departmant 1 32,500 Department 2 22,500 30% 40% 20% 75% Units started in October Units Completed in October Ending WIP October 31 Complete as to material Incomplete as to conversion cost 120,000 112,500 27,500 60% 0% 80% 60% Costs Beginning WIP Transferred in 287,500 120,000 42,500 Materials 200,000 187,500 Conversion Current Period Transferred in Materials Conversion 875,000 500,000 125,000 300,000 Required: Compute the ending inventory costs for the two departments. • Using Weighted method a. Compute the EUP of the two departments. b. Compute the unit cost of the two departments. c. Compute the costs transferred to out the two departments. d. Compute the ending inventory costs for the two departments.
5. Peter Senen Manufacturing Company has just completed its production activities for February 2019. The production manager furnished you their data for this month: Department X Department Y Quantity units: In process, February 1 Stage of completion Started in process Received from prior dept. 16,000 4/5 10,000 40% 64,000 70,000 12,000 In process, February 28 Stage of completion ? 2/5 2/3 Costs data: In process, February 1 Current costs P 21,020 P20,300 Materials 28,350 15,300 9,180 46,800 25,200 14,400 Labor Manufacturing Overhead In Department X, material application is described to you as follows: 10% is applied at the start of the process; 25% when the process reaches the mid-point; and the remainder, when the process reaches 85% completion. Labor and Overhead are applied evenly throughout the process. In Department Y, the application of material is described as follows: 20% when the process is '1/4 completed; 30% when the process is '1/2 completed and the balance, at the end of…
Table 2Activity Cost Pool Total Cost Total ActivityAssembly $ 1,114,920 57,000 machine-hoursProcessing orders $ 47,016 1,800 ordersInspection $ 107,328 1,560 inspection-hours Use Table 2 to answer this question. XYZ Corporation has provided the following data from its activity-based costing system (Table 2). The company makes 430 units of product ABA a year, requiring a total of 1,120 machine-hours, 35 orders, and 40 inspection-hours per year. The product's direct materials cost is $49.81 per unit and its direct labor cost is $12.34 per unit. The product sells for $130 per unit. According to the activity-based costing system, the product margin for product ABA is: Select one: a. $4,290.10. b. $3,815.50. c. none of the given answer. d. $4,159.50. e. $3,602.10.
Exercise 6-6 EVEN APPLICATION – SUCCEEDING DEPT Astro2 Inc. uses two producing departments namely X and Y. In Dep’t Y, the second dept, costs are applied evenly throughout the process. Prepare the cost of production report of Dept Y using the following data for February of the current year: WIP, beg – 6,000 units, 1⁄4 done, P19,710 (50% of which was from department X, 20% for materials, 10% labor, 20% overhead) Received from Dep’t X – 35,000 units @ P3 Factory Costs : Materials, P20,770; Direct Labor, P8,375; FOH, P16,750 WIP, end – 8,000 units 1⁄4 done
Unit Cost of Production The following production information for Department 2 of A3 Company is available for the month of May 2021: Received from Department 1 600,000 units Completed and transferred to 500,000 units Department 3 Additional information: No beginning WIP. Ending WIP is 75% complete. Production costs for the month total P 2,760,000. Department 2's unit cost of production for May 2021 is