FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following unit data were assembled for the assembly process of the Super Co. for the month of April. Direct Materials are added at the beginning of the process. Conversion costs are added uniformly over the production process. The company uses the FIFO method
Beginning work in process, (60% completed)- 5,000 units
Units started in April- 48,000 units
Ending work in process, (30% completed)- 4,000 units
The number of equivalent units produced with respect to conversion costs is?
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- The Constructing Department of MEC Company had 2,600 units in work in process at the beginning of the period, which were 55% complete. During the period, 23,800 units were completed and transferred to the Packing Department. There were 7,400 units in process at the end of the period, which were 60% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs.arrow_forwardWinter Company reported the following for the most recent month: Physical Units Beginning work in process (60% complete) Units transferred in (started) during month Ending work in process 700 4,800 950 Materials are added at the end of the process and conversion costs are added evenly throughout the process. If equivalent whole units of production for conversion using the FIFO were 4,396, what percent complete was ending work in process at the end of the month? (Round to the nearest whole percent.) а. 20% b. 16% с. 44% d. 28% е. 25% f. 72% g. 100% h. None of the abovearrow_forwardStone Company produces carrying cases for CDs. It has compiled the following information for the month of June: Physical Units Percent Complete for Conversion Beginning work in process 44,000 54% Ending work in process 40,000 72% Stone adds all materials at the beginning of its manufacturing process. During the month, it started 93,000 units. Required: Using the weighted-average method, reconcile the number of physical units. Using the weighted-average method, calculate the number of equivalent units.arrow_forward
- The Converting Department of Comfy Touch Towel and Tissue Company had 1,040 units in work in process at the beginning of the period, which were 60% complete. During the period, 21,600 units were completed and transferred to the Packing Department. There were 1,160 units in process at the end of the period, which were 30% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount box does not require an entry, leave it blank. Comfy Touch Towel and Tissue Company Number of Equivalent Units of Production Direct Units Materials Conversion Whole Equivalent Units Equivalent Units Inventory in process, beginning 00000 Started and completed Transferred to Packing Department Inventory in process, ending Totalarrow_forwardRadford Products adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of January is available. Units started in January 892,000 Units completed in January 916,000 Work in process, January 1 (25% complete with respect to conversion) 97,000 Work in process, January 31 (40% complete with respect to conversion) 73,000. Compute the equivalent units for materials costs and for conversion costs using the FIFO method.arrow_forwardThe Kirkland Department of Delta Company began the month of December with beginning work in process of 4,000 units that are 80% complete as to materials and 20% complete as to conversion costs. Units transferred out are 12,000 units. Ending work in process contains 2,000 units that are 80% complete as to materials and 60% complete as to conversion costs. Compute the equivalent units of production for materials using the FIFO method? a-10,000 b-12,000 c-12,400 d-10,400 e-12,800arrow_forward
- Stone Company produces carrying cases for CDs. It has compiled the following information for the month of June: Physical Units Percent Complete for Conversion Beginning work in process 68,000 55% Ending work in process 91,000 70% Stone adds all materials at the beginning of its manufacturing process. During the month, it started 178,000 units. Required: Using the FIFO method, reconcile the number of physical units. Using the FIFO method, calculate the number of equivalent units.arrow_forwardIn the month of March, a department had 7500 units in beginning Work in Process Inventory that were 80% complete. During March, 30300 units were transferred into production from another department. At the end of March there were 2500 units in ending Work in Process Inventory that were 80% complete. Direct materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. The weighted-average method is used. How much are equivalent units of production for direct materials for March? O 37300 equivalent units of production O 28300 equivalent units of production 37800 equivalent units of production 40300 equivalent units of productionarrow_forward
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