FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Solve thisarrow_forwardRequired information [The following information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 12,300 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Cost of beginning work in process Direct materials Conversion Costs added this month Direct materials. Conversion Direct Materials Conversion Units Numerator: Costs to be allocated $ $ 3,200 12,300 10, 200 5,300 Percent Complete for Direct Materials 75% $ 1,143 624 13,827 17,856 13,827 / 17,856 / 90% Percent Complete for Conversion 25% Calculate the Assembly department's cost per equivalent unit of production for materials and for conversion for November. Use the FIFO method. $ 1,767 31,683 Cost per…arrow_forwardIn April, one of the processing departments at Terada Corporation had: • beginning work in process inventory of $40,000 • ending work in process inventory of $46,000. . . During the month, $263,000 of costs were added to production • the cost of units transferred out from the department was $257,000. In the department's cost reconciliation report for April, the total cost to be accounted for under the weighted-average method would be: $606,000 $86,000 $303,000 $566,000arrow_forward
- a. Calculate the equivalent units for the Forming Department for the month of August. b. Find the cost per equivalent unit of direct materials and conversion associated with the units transferred during the month. (Round your answers to 2 decimal places.)arrow_forwardUnits to be Assigned Costs Oak Ridge Steel Company has two departments, Casting and Rolling. In the Rolling Department, ingots from the Casting Department are rolled into steel sheet. The Rolling Department received 63,800 tons from the Casting Department. During July, the Rolling Department completed 74,300 tons, including 16,200 tons of work in process on July 1. The ending work in process inventory on July 31 was 5,700 tons. How many tons were started and completed during July?arrow_forwardThe debits to Work in Process—Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $ 7,326 Conversion costs, 3,000 units, 40% completed 5,749 Materials added during April, 10,000 units 25,598 Conversion costs during April 34,639 Goods finished during April, 12,000 units 0 April 30 work in process, 1,000 units, 40% completed 0 All direct materials are added at the beginning of the process, and the first-in, first-out method is used to cost inventories. The conversion cost per equivalent unit for April isarrow_forward
- Please do entire problem.arrow_forwardA department adds all the direct materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning Work In Process inventory; 90,000 units were started into production; and there were 20,000 units that were 40% complete with respect to conversion in Work In Process ending inventory at the end of January. What were the equivalent units of production for materials for the month of January? A. 98,000 equivalent units B. 70,000 equivalent units C. 82,000 equivalent units D. 90,000 equivalent unitsarrow_forwardThe debits to Work in Process—Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Line Item Description Amount Materials cost, 3,000 units $ 7,200 Conversion costs, 3,000 units, 60% completed 6,000 Materials added during April, 10,000 units 25,000 Conversion costs during April 35,750 Goods finished during April, 12,000 units — April 30 work in process, 1,000 units, 40% completed — All direct materials are added at the beginning of the process, and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for April isarrow_forward
- how do I resolve this problem? The Assembly Department started the month with 25,800 units in its beginning work in process inventory. An additional 310,800 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 30,800 units in the ending work in process inventory of the Assembly Department. How many units were transferred to the next processing department during the month?arrow_forwardUse this information about Department G to answer the question that follow. Department G had 2,160 units 25% completed at the beginning of the period, 12,300 units were completed during the period, 1,800 units were 20% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period Costs added during period: Direct materials (11,940 units at $9) Direct labor Factory overhead $26,700 a. $190,853 b. $174,254 O c. $157,655 d. $91,260 107,460 74,400 24,800 All direct materials are placed in process at the beginning of production, and the first-in, first-out method of inventory costing is used. What is the total cost of the units started and completed during the period (do not round unit cost calculation)?arrow_forwardUse this information about the Assembly Department to answer the question that follows. The debits to Work in Process-Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $ 7,500 Conversion costs, 3,000 units, 80% completed 6,000 Materials added during April, 10,000 units 29,000 Conversion costs during April 35,000 Goods finished during April, 11,500 units — April 30 work in process, 1,500 units, 60% completed — All direct materials are added at the beginning of the process, and the average cost method is used to cost inventories. The cost per equivalent unit for April is a.$2.70 b.$6.74 c.$6.25 d.$6.40arrow_forward
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