Sheridan Company has the following equivalent units of production for July: materials 20000 and conversion costs 15000. Production cost data are: Work in process inventory, July 1 Costs added in July The unit production costs for July are: Materials Materials Conversion Costs $ 8000 45400 Conversion $3000 42000

Sheridan Company has the following equivalent units of production for July: materials 20000 and conversion costs 15000. Production cost data are: Work in process inventory, July 1 Costs added in July The unit production costs for July are: Materials Materials Conversion Costs $ 8000 45400 Conversion $3000 42000

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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Amerisama Company makes a variety of products. Its Texturing Department reports the following information for September of the current year:Units:Completed and transferred out 7,400Unfinished units, work in process, September 30: 3,500*Costs:Direct Materials $110,000Direct Labor 55,000Manufacturing overhead 80,000*100% complete for direct materials and 40% complete for conversion costs incurred.Compute the cost per equivalent unit for conversion costs.$10.09$9.09$12.39$15.34
Marigold Company has the following equivalent units of production for July: materials 23240 and conversion costs 18500. Production cost data are: Work in process, July 1 Costs added in July Materials $2.50 $2.50 $2.28 Materials Conversion The unit production costs for July are: $2.28 $5100 53000 Conversion Costs $2.22 $2.40 $2.40 $3400 $2.22 41000
Equivalent Units of Conversion Costs The Rolling Department of Oak Ridge Steel Company had 5,236 tons in beginning work in process inventory (70% complete) on July 1. During July, 74,800 tons were completed. The ending work in process inventory on July 31 was 5,984 tons (10% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.fill in the blank 1 units
In a "Cost of Goods Manufactured" report, "COST OF GOODS MANUFACTURED" will be reported at what amount? WIP, beginning 20,000 units Units started during the month 600,000 units WIP, ending (materials complete; 60% complete as to conversion cost) 40,000 Conversion Cost of WIP, beginning P 100,000 Conversion cost for the month P 655,000 Materials Cost of WIP, beginning P 140,000 Materials cost for the month P 790,000
3. The Assembly Department for Bright Company has the following production data for the current month. Beginning Work in Process Units transferred out Ending Work in Process -0- 20,000 10,000 Materials are entered at the beginning of the process. The ending work in process units are 70% complete as to conversion costs. Instructions: Compute the equivalent units of production for (a) materials and (b) conversion costs (2 marks) 4. Tien Group estimates that unit sales will be 20,000 in quarter 1, 24,000 in quarter 2, 27,000 in quarter 3 and 33,000 in quarter 4. Management desires to have an ending finished goods inventory equal to 20% of the next quarter's expected unit sales. Instructions: Prepare a production budget by quarters for the first 6 months of 2020. (*
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
Subject: Cost Accounting
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)…
Muscat Painting Company has the following production data for March. Beginning work process 400,000 units (60% complete), started into production 370,000 units, completed and transferred out 706,000 units, and ending work in process 40,000 units (40% complete). the equivalent units of production for conversion costs will be: Select one: O a. 810,000. O b. 650,000. O c 770,000. O d. None of the answers are correct O e. 722,000.
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