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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 Conversion (In pesos) Cost (PhP) Transfer Materials Units In In process, Oct. 1 Received from Department A 5,000 20,000 25,000 (in Pesos) 9,990 39,010 1,020 21,855 998 21,877 Total Transferred out 19,000 1,000 Normal Loss 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

Principles of Accounting Volume 2

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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ANSWER SHOULD BE 16,400.

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

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The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
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
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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 16,000 10,000 Stage of completion 4/5 40% Started in process 64,000 Received from prior dept. 70,000 In process, February 28 ? 12,000 Stage of completion 2/5…
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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.
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Cumulaaim bws Lid operatea à standard costing system. The standard direct materials to produce 600 units of output is as follows Alateral Grade Imput quantity (titres) Standard price per litre(E) 200 1.10 300 0.55 120 1.20 180 1.50 During December 2021 the actual output of the product was 10,500 units. The actual Materials issued to production were: Material Grade Quantity (litres) E 2,000 F 5,000 2,000 H 3,000 You are required to: a. Calculate the material mix and yield variance for each material and in total. Comment on the figures calculated. b. Explain briefly, with examples, your understanding of the following terms: I. Planning Variance ii. Goal Congruence iii. Sub-Optimality
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