The T. L. Lin Company manufactures a variety of natural fabrics for the clothing industry in a suburb of Shanghai. The following data in Chinese currency called yuan (CNY) pertain to the month of October. Work-in-Process Inventory, October 1 60,000 units Direct materials: 50% complete 55,840 yuan Conversion: 25% complete 65,160 yuan Costs incurred during October     Direct materials 749,000 yuan Conversion 1,206,440 yuan During October, 200,000 units were completed and transferred out. At the end of the month, 40,000 units (direct materials 70% and conversion 50% complete) remain in Work-in-Process Inventory. Calculate each of the following amounts using weighted-average process costing while rounding "WTAVG Cost per EU" to 2 decimal places. Equivalent units of direct materials and conversion. Costs per equivalent unit for direct materials and conversion. Cost of goods completed and transferred out during October. Cost of the Work-in-Process Inventory at October 31.

Big Sur Water Sports, Inc., manufactures fiberglass boards used for riding the waves at the beach. The products are sold under the brand name Crazy Board. The standard cost for material and labor is $89.20 per board. This includes 8 kilograms of direct material at a standard cost of $5.00 per kilogram and 6 hours of direct labor at $8.20 per hour. The following data pertain to November: Purchases of material: 46,500 kilograms for $248,000 Total actual direct labor costs: $301,490 Actual hours of direct labor: 36,500 hours Production: 5,600 units 1. Calculate the total direct materials variance 2. Calculate the total direct labor variance Check Figures:   Total Direct Materials Variance $23,845 Unfavorable   Total Direct Labor Variance $25,970 Unfavorable

Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units • Beginning inventory of 3,500 units that are 100 percent complete for materials and 23 percent complete for conversion. • 15,400 units started during the period. • Ending inventory of 3,400 units that are 14 percent complete for conversion. Manufacturing Costs • Beginning inventory was $20,200 ($8,900 materials and $11,300 conversion costs). • Costs added during the month were $29,600 for materials and $54,300 for conversion ($28,200 labor and $26,100 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and conversion for March. 2. Calculate the cost per equivalent unit for materials and conversion for March. 3. Determine the costs to be assigned to the units transferred out and the units still in process. Complete this question…

A company produces a cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below:   Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 5.70 pounds $ 2.50 per pound $ 14.25 Direct labor 0.50 hours $ 7.50 per hour $ 3.75 During the most recent month, the following activity was recorded: Eleven thousand pounds of material were purchased at a cost of $2.40 per pound. The company produced only 1,100 units, using 9,900 pounds of material. (The rest of the material purchased remained in raw materials inventory.) 650 hours of direct labor time were recorded at a total labor cost of $7,800. Required: Compute the materials price and quantity variances for the month.

The debits to Work in Process—Assembly Department for April, together with data concerning production, are as follows: April 1, work in process:      Materials cost, 3,000 units $  8,142   Conversion costs, 3,000 units, 40% completed 5,220 Materials added during April, 10,000 units 25,698 Conversion costs during April 32,143 Goods finished during April, 12,000 units 0 April 30 work in process, 1,000 units, 40% completed 0 All direct materials are added at the beginning of the process, and the first-in, first-out method is used to cost inventories. The conversion cost per equivalent unit for April is a.$3.21 b.$2.47 c.$2.80 d.$2.87