FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Topic Video
Question
The cost of direct materials transferred into the Filling Department of Eve Cosmetics Company is $69,300. The conversion cost for the period in the Filling Department is $244,900. The total equivalent units for direct materials and conversion are 23,100 ounces and 31,000 ounces, respectively.
Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by stepSolved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Kramer Corporation began the period with 5,200 units in process that were 100% complete for materials and 60% complete for conversion, and ended the period with 26,000 units completed and 6,500 units still in process. Work in process was 100% complete for materials and 70% complete for conversion costs. Using the weighted-average method, compute the equivalent units of production for materials and conversion for the period. Equivalent Units Direct Materials Conversion Costsarrow_forwardThe Filling Department of Eve Cosmetics Company had 3,100 ounces in beginning work in process inventory (20% complete). During the period, 52,000 ounces were completed. The ending work in process inventory was 2,600 ounces (20% complete). What are the total equivalent units for direct materials if materials are added at the beginning of the process?arrow_forwardLemony Lemonade has 3,200 gallons of lemonade in WIP Inventory, with 76% of materials already added. The lemonade is 50% through the process. Assuming all conversion costs are added evenly throughout the process, what are the equivalent units for conversion costs?arrow_forward
- The cost of direct materials transferred into the Filling Department of Eve Cosmetics Company is $401,280. The conversion cost for the period in the Filling Department is $252,320. The total equivalent units for direct materials and conversion are 60,800 ounces and 66,400 ounces, respectively. Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent. Direct materials cost per equivalent unit: Conversion costs per equivalent unit:arrow_forwardCost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of Blackrock Steel Company is $625,500. The conversion cost for the period in the Rolling Department is $157,680. The total equivalent units for direct materials and conversion are 13,900 tons and 13,140 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: Conversion costs per equivalent unit: per ton per tonarrow_forwardThe cost of direct materials transferred into the Bottling Department of the Mountain Springs Water Company is $1,000,500. The conversion cost for the period in the Bottling Department is $648,000. The total equivalent units for direct materials and conversion are 34,500 liters and 7,200 liters, respectively. Determine the direct materials and conversion cost equivalent unit. Cost per equivalent unit of materials Cost per equivalent unit of conversionarrow_forward
- The cost of direct materials transferred into the Filling Department of Eve Cosmetics Company is $122,880. The conversion cost for the period in the Filling Department is $398,240. The total equivalent units for direct materials and conversion are 51,200 ounces and 52,400 ounces, respectively. Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent.arrow_forwardThe costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $1.65 and $0.55, respectively. The equivalent units to be assigned costs are as follows: The beginning work in process inventory had a cost of $1,340. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar.arrow_forwardCullumber Company completes and transfers out 15,360 units and has 2,560 units of ending work in process that are 25% complete as to conversion costs. Materials are entered at the beginning of the process, and there is no beginning work in process. Cullumber uses the FIFO method to compute equivalent units. Assuming unit materials costs of $3 and unit conversion costs of $7, what are the costs to be assigned to units (a) completed and transferred out and (b) in ending work in process? (a) Completed and transferred out (b) Ending work in process tA $ tA $ Costs to be assignedarrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education