FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The cost of materials transferred into the Filling Department of Eve Cosmetics Company is $20,000, including $14,000 from the Blending Department and $6,000 from the materials storeroom. The conversion cost for the period in the Filling Department is $4,560 ($1,600 factory
inventory of $1,800.
a. Journalize (1) the cost of transferred-in materials, (2) conversion costs, and (3) the costs transferred out to Finished Goods.
b. Determine the balance of Work in Process—Filling at the end of the period.
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- The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department had 3,300 liters in beginning work in process inventory (30% complete). During the period 61,990 liters were completed. The ending work in process was 6,450 liters (70% completed). All inventories are costed by the first-in, first-out method. What is the total equivalent units for direct materials (using the FIFO method) if materials were added at the beginning of the process?fill in the blank 1 equivalent unitsThe Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department had 3,300 liters in beginning work in process inventory (30% complete). During the period 61,990 liters were completed. The ending work in process was 6,450 liters (70% completed). All inventories are costed by the first-in, first-out method. What is the total equivalent units for direct materials (using the FIFO method) if materials were added at the beginning of the…arrow_forwardThe costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $1.80 and $1.95, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 4,100 Started and completed during the period 51,000 51,000 Transferred out of Filling (completed) 51,000 55,100 Inventory in process, end of period 3,000 900 Total units to be assigned costs 54,000 56,000 The beginning work in process inventory had a cost of $2,870. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar. Completed and transferred-out production Inventory in process, endingarrow_forwardQUESTION 9 10 p The cost of materials transferred into the Rolling Department of Keystone Steel Company is $510,000from the Casting Department The conversion cost for the period in the Rolling Department is $81,200 ($54,700 factory overhead applied and $26,500 direct labor). The total cost transferred to Finished Goods for the period was $553,200. The Rolling Department had a Beginning Inventory of $25,000 Journalize the cost of transferred out to Finished Goods. Work in Process - Rolling 553,200 Finished Goods 553,200 Finished Goods 553,200 Work in Process - Rolling 553,200 Finished Goods 510,000 Work in Process - Rolling 510,000 Work in Process Rolling 510,000 Finished Goods 510,000arrow_forward
- The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department received 68,890 liters from the Purifying Department. During the period, the Bottling Department completed 66,410 liters, including 2,800 liters of work in process at the beginning of the period. The ending work in process was 5,280 liters. How many liters were started and completed during the period? liters started and completedarrow_forwardThe 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_forwardSilva Coporation uses the weighted average process costing method. The Mixing Department at Silva had 17,000 units in beginning inventory. These units contained $70,000 in direct materials, $80,000 in direct labor, and $60,000 in overhead. During the period, the department incurred costs of $320,000 in direct materials, $400,000 in direct labor and $200,000 in overhead and started 80,000 units. Ending inventory consisted of 6,000 units which were 100% complete with respect to direct materials and 50% complete with respect to direct labor and overhead. What is the cost per equivalent unit for direct labor (rounded to the nearest cent)? O $5.28 O $5.11 O $4.94 $0.86arrow_forward
- The 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_forwardThe 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_forward
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