S Inc.'s Assembly Department had the following information at July 31. All direct m are added at the end of the conversion process. The units in ending work in process in were only 44% of the way through the conversion process. Physical Equivalent Units Direct Conv Units Materials Units accounted for: Completed and transferred out Ending work in process, August 31 Total physical units accounted for: Total equivalent units 145,000 25,000 170,000 Compute the total equivalent units of direct materials and conversion costs for a. Equivalent units for direct materials are 120,000 and for conversion co b. Equivalent units for direct materials are 145,000 and for conversion co

S Inc.'s Assembly Department had the following information at July 31. All direct m are added at the end of the conversion process. The units in ending work in process in were only 44% of the way through the conversion process. Physical Equivalent Units Direct Conv Units Materials Units accounted for: Completed and transferred out Ending work in process, August 31 Total physical units accounted for: Total equivalent units 145,000 25,000 170,000 Compute the total equivalent units of direct materials and conversion costs for a. Equivalent units for direct materials are 120,000 and for conversion co b. Equivalent units for direct materials are 145,000 and for conversion co

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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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Lazada Inc. adds materials at the beginning of the process in department USB. Conversion costs were 70% complete as to the 9,500 work-in-process units on September 1 and 40% incomplete as to the 7,000 work-in-process units on September 30. During September, 12,000 units were completed and transferred to the next department. An analysis of the cost relating to work-in-process on September 1 and to production activity for September is as follows: Work-in-process, September 1Materials P10,000Conversion Costs P12,000Costs incurred during SeptemberMaterials P45,000Conversion Costs P60,000The total cost per equivalent unit for September under FIFO is:
At Greytown Company, materials are entered at the beginning of each process. Work in process inventories, with the percentage of work done on conversion, and production data for its Painting Department in selected months are as follows: Beginning Work In Process Ending Work In Process Percentage Units Completed Percentage Month Units Completed and Transferred Out Units Completed July -0- — 11,000 1,500 90% Sept. 2,500 20% 9,000 5,000 70% Instructions Compute the equivalent units of production for materials and conversion costs for September.
Sohar Company had the following department data: Physical Units Work in process, July 1 30,000 Completed and transferred out 135,000 Work in process, July 31 45,000 Materials are added at the beginning of the process. What is the total number of equivalent units for materials in July? Select one: а. 45,000. O b. 150,000. OC. 210,000. O d. None of the answers are correct Ое. 135,000.
Compute the Equivalent units of production (EUP):Units received from preceding department 25,000 unitsUnits completed and transferred 14,000 unitsUnits in process, end (30% incomplete) 11,000 unitsCompute the equivalent production for conversion if 40% of materials are added at the beginning and the remaining 60% are added 75% completed
The following information was taken from the books of Hunaiza Manufacturing Company for the month of January 2021 Cost of Units in process at beginning: January 1, 2021 Rs. 60,000 Cost of Raw Material used 177,600 Direct Labour cost incurred 115,200 Factory Overhead Cost incurred 86,400 The data extracted from the production report relating to above process are as follows: Units in process at beginning of January (40% complete as to material and 60% complete as to conversion cost) 10,000 units Units placed in production during January 26,000 units Units in process at end of January 31 (60% complete as to material and 80% as to conversion cost)…
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $1.70 and $2.40, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials 0 Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Total units to be assigned costs 72,000 The beginning work in process inventory on October 1 had a cost of $2,900. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department 65,000 65,000 7,000 Equivalent Units Conversion 4,600 65,000 69,600 S 2,800 72,400
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $2.35 and $0.70, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Equivalent Units Direct Materials 0 Equivalent Units Conversion 3,200 54,000 54,000 54,000 7,000 Total units to be assigned costs 61,000 The beginning work in process inventory on October 1 had a cost of $2,080. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department 57,200 2,100 59,300
Acer Corporation. has the following information for June All material is added at the start of the process and all finished products are transferred out. Beginning Work in Process Inventory (70% complete as to conversion) 6,000 units started 24,000 Ending Work in Process Inventory (10% complete as to conversion) 8,500 Beginning Work in Process Inventory Cost: Material P23,400 conversion 50,607 Current Period Cost: Material P31,500 Conversion 76,956 1. How many units were transferred out in June? 2. Assume that weighted average process costing is used. What is the cost per equivalent unit for material? 3. Assume that FIFO process costing is used. What is the cost per equivalent unit for conversion?
Pearl Company has the following production information for October: 60,000 units transferred out and 20,000 units in ending work in process that are 100 percent complete for materials and 60 percent complete for conversion costs. Materials cost is $12 per equivalent unit and conversion cost is $16 per equivalent unit. Determine the cost assigned to the units transferred out and the units in ending work in process using the weighted-average method.
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $2.30 and $1.85, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 1,500 Started and completed during October 30,000 30,000 Transferred out of Rolling (completed) 30,000 31,500 Inventory in process, October 31 3,000 1,800 Total units to be assigned costs 33,000 33,300 The beginning work in process inventory on October 1 had a cost of $920. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production 181,000 x Inventory in process, October 31 Total costs assigned by the Rolling Department Feedback TCheck My Work The assumption would be that units that had been in beginning work in…