The cost of production of completed and transferred goods during the period amounted to $540,000, and the finished products shipped to customers had total production costs of $375,000. The journal entry to record the transfer of costs from work in process to finished goods is a. Work in Process 540,000      Finished Goods   540,000 b. Finished Goods 540,000      Work in Process   540,000 c. Finished Goods 375,000      Work in Process   375,000 d. Work in Process 375,000      Finished Goods   375,000

The Jamaica Company manufactures a product in a single process. The following information is available: Beginning WIP Inventory -0-Units Input Material Direct Labour Cost Incurred Manufacturing Overhead Incurred 18,000 units valued at $213,885 $577,500 $391,875 Units Completed & Transferred Out 12,000 Ending WIP Inventory 6,000 units The units still in process are 45% complete with respect to direct materials and 35% complete with respect to conversion costs. The cost per equivalent unit for direct materials is? Select one $17.81 Ob $15.00 O $14.55- Od. $12.87 0

In the manufacture of 9,300 units of a product, direct materials cost incurred was $173,200, direct labor cost incurred was $114,700, and applied factory overhead was $48,800. What is the total conversion cost? A. $173,200 B.$163,500 C.$336,700 D. $48,800

The last department in a production process shows the following information at the end of the period:                      Units                     Beginning Work in Process     3,000                Started into Production     21,000                Ending Work in Process     6,000           How many units have been transferred out to finished goods during the period?

Production information shows the following costs and units for the smoothing department in August. Cost Units Work in process Beginning balance: materials $1,500 Beginning units 640 Beginning balance: conversion 2,300 Transferred in 1,750 Materials 7,104 Transferred out 1,730 Labor 14,500 Overhead 6,548 All materials are added at the beginning of the period. The ending work in process is 10% complete as to conversion. What is the value of the inventory transferred to finished goods and the value of the WIP inventory at the end of the month? Transferred out $4 Ending inventory $

Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 6,000 units, 55% completed 15,000 To Finished Goods, 138,000 units ? Direct materials, 141,000 units @ $1.4 197,400     Direct labor 207,100     Factory overhead 80,495     Bal., ? units, 25% completed ?     Cost per equivalent units of $1.40 for Direct Materials and $2.10 for Conversion Costs.   a.  Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1.  Cost of beginning work in process inventory completed this period $fill in the blank 1 2.  Cost of units transferred to finished goods during the period $fill in the blank 2 3.  Cost of ending work in process inventory $fill in the blank 3 4.…

Following is a partial process cost summary for Mitchell Manufacturing's Canning Department.  Equivalent Units of Production Direct Materials   Conversion   Units Completed and transferred out     80,000         80,000     Units in Ending Work in Process:                     Direct Materials (12,000 × 100%)     12,000               Conversion (12,000 × 70%)               8,400     Equivalent Units of Production     92,000         88,400                           Cost per Equivalent Unit                     Costs of beginning work in process   $ 41,600       $ 61,200     Costs incurred this period     139,400         187,600     Total costs   $ 181,000       $ 248,800     Cost per equivalent unit   $ 1.97 per EUP     $ 2.81 per EUP     The total materials costs transferred out of the Canning Department equals:

The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 3,000 units, 50% completed 9,150 To Finished Goods, 69,000 units ? Direct materials, 71,000 units @ $2.1 149,100     Direct labor 100,100     Factory overhead 38,900     Bal. ? units, 40% completed ?     Determine the following: a.  The number of units in work in process inventory at the end of the period. units b.  Equivalent units of production for direct materials and conversion. If an amount is zero or a blank, enter in "0". Work in Process-Assembly Department Equivalent Units of Production for Direct Materials and Conversion Costs     Whole Units Equivalent UnitsDirect Materials Equivalent UnitsConversion Inventory in process, beginning       Started and completed       Transferred to…

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Use the following information for a manufacturer to compute cost of goods manufactured and cost of goods​ sold:   Data Table Balances: Beginning Ending Direct Materials $20,000 $32,000 Work-in-Process Inventory 39,000 37,000 Finished Goods Inventory 14,000 23,000 Data Table Other information:   Purchases of direct materials $79,000 Direct labor 80,000 Manufacturing overhead 41,000 ​First, compute cost of goods manufactured.   Schedule of Cost of Goods Manufactured         Direct Materials Used:                                               Direct Materials Used                       Total Manufacturing Costs Incurred during the Year       Total Manufacturing Costs to Account For               Cost of Goods…