The Samrock Paint Company uses a process-costing system. Materials are added at the beginning of a particular process, and conversion costs are incurred uniformly. Work in process at the beginning of the month is 30% complete, while at the end it is 25% complete. One gallon of material makes one gallon of product. Data is as follows: Beginning inventory 900 gal Direct materials added 9,300 gal Ending inventory 2,400 gal Conversion costs incurred $39,800 Cost of direct materials added $82,950 Conversion costs, beginning inventory $1,700 Cost of direct materials, beginning inventory $2,900 Use the weighted average method. Prepare a schedule of output in equivelent units and a schedule of application of costs to products. Show the costs of goods completed and cost of ending work in process.

Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products. Information for the company’s first production process for September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process. Work in process inventory, September 1 (2,000 units, 100% complete with respect to direct materials, 80% complete with respect to conversion; consists of $45,000 of direct materials cost and $56,320 conversion cost) $101,320 Costs incurred in September Direct materials . $375,000 Conversion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $341,000 Work in process inventory, September 30 (7,000 units, 100% complete with respect to direct materials, 40% complete with respect to conversion) . $ ? Units started in September . 28,000 Units completed…

Ashvin

he costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $0.60 and $0.25, respectively. The equivalent units to be assigned costs are as follows:   Equivalent Units   Direct Materials Conversion Inventory in process, beginning of period 0   2,400   Started and completed during the period 62,000   62,000   Transferred out of Filling (completed) 62,000   64,400   Inventory in process, end of period 10,000   2,500   Total units to be assigned costs 72,000   66,900   The beginning work in process inventory had a cost of $4,500. Determine the cost of completed and transferred-out production and the ending work in process inventory. Completed and transferred out of production $fill in the blank 1 Inventory in process, ending $fill in the blank 2

Super Sports Drinks, Inc. has two departments: Mixing and Bottling. Direct materials are added at the beginning of the mixing process and at the end of the bottling process. Conversions costs are added evenly throughout each process. Data for the month of May for the Mixing Department are as follows: Units Amount Beginning Work-in-Process Inventory 0 units Started in production 8,150 units Completed and transferred out to Bottling 4,200 units Ending Work-in-Process Inventory 60% through mixing process 3,950 units   Costs Amount Beginning Work-in-Process Inventory $0.00 Costs added during May:   Direct Materials $8,581 Direct Labor $2,153 Manufacturing overhead allocated $4,470 Total costs added during May $15,204   Complete the production report for the month of May.(Round your answers to two decimal places when needed and use rounded answers for all future calculations).

Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Direct Materials Conversion Percent Percent Units Complete Complete Beginning work in process inventory Units started this period 4,500 100% 40% 32,400 Units completed and transferred out 33,300 Ending work in process inventory 3,600 100% 80% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion $ 29,700 332,910 $ 362,610 745,200 3,248,910 3,994,110 Total costs to account for $ 4,356,720 Required: 1. Prepare the Forming department's production cost report for May using the weighted average method. 2. Prepare the May 31 journal entry to transfer the cost of units from Forming to Assembly. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the Forming department's production cost report for May using the weighted average method. TAMAR…

Equivalent Units of Materials Cost The Filling Department of Eve Cosmetics Company had 2,400 ounces in beginning work in process inventory (90% complete). During the period, 40,300 ounces were completed. The ending work in process inventory was 2,000 ounces (50% complete). What are the total equivalent units for direct materials if materials are added at the beginning of the process? units

Equivalent Units of Production The Converting Department of Girders Company uses the weighted average cost (WAC) method and had 3,500 units in work in process that were 60% complete at the beginning of the period. During the period, 24,900 units were started and 25,200 units were completed and transferred to the Packing Department. There were 3,200 units in process that were 30% complete at the end of the period. a. Determine the number of units to be accounted for and to be assigned costs for the period. Whole Units Units to be accounted for Units to be assigned costs b. Determine the number of equivalent units production for the period. 27,000 X Feedback. 24,900 X 27,000 X Check My Work (a) Recall that the numberof units to be accounted for is the sum of the units in beginning work in process and the units started during the period. Also know that the number of units to be assigned costs s the sum of the units transferred to the Packing Department during the period and the ending…

The Chart Company has a process costing system. All materials are added when the process is first begun. At the beginning of September, there were no units of product in process. During September 50,000 units were started; 5,000 of these were still in process at the end of September and were 3/5 finished. The equivalent units for the conversion costs in September were: Materials Cost Conversion Costs Beginning work in process $46,000 $78,000 Current period costs $92,000 $124,000 TOTAL COSTS $138,000 $202,000 None of the choices is correct. $3.45; $4.04 $2.30; $2.48 $1.76; $1.94 $1.15; $1.56

The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $0.70 and $2.25, respectively. The equivalent units to be assigned costs are as follows:   Equivalent Units   Direct Materials Conversion Inventory in process, beginning of period 0   3,500   Started and completed during the period 50,000   50,000   Transferred out of Filling (completed) 50,000   53,500   Inventory in process, end of period 6,000   3,000   Total units to be assigned costs 56,000   56,500   The beginning work in process inventory had a cost of $2,310. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar.