Total Required Information [The following information applies to the questions displayed below.] Prepare the production department's equivalent units of production for direct materials under each of the following three separate assumptions using the weighted average method for process costing. The first production department in a process manufacturing system reports the following unit dists. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Equivalent Units of Production (EUP)-Weighted Average Method 1. All direct materials are added to products when processing begins. Total Total Unite 32,000 units 48,000 units 80,000 units 17,588 units Unite 2. Beginning Inventory la 30% complete as to direct materiale coste. Ending Inventory is 70% complete as to direct materiale costs. Direct Materiale Units Percent Complete EUP Direct Materiale Percent Complete 3. Beginning Inventory le 60% complete as to direct materiale costs. Ending Inventory le 20% complete as to direct materiale costes. EUP Percent Complete Direct Materiale EUP

Total Required Information [The following information applies to the questions displayed below.] Prepare the production department's equivalent units of production for direct materials under each of the following three separate assumptions using the weighted average method for process costing. The first production department in a process manufacturing system reports the following unit dists. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Equivalent Units of Production (EUP)-Weighted Average Method 1. All direct materials are added to products when processing begins. Total Total Unite 32,000 units 48,000 units 80,000 units 17,588 units Unite 2. Beginning Inventory la 30% complete as to direct materiale coste. Ending Inventory is 70% complete as to direct materiale costs. Direct Materiale Units Percent Complete EUP Direct Materiale Percent Complete 3. Beginning Inventory le 60% complete as to direct materiale costs. Ending Inventory le 20% complete as to direct materiale costes. EUP Percent Complete Direct Materiale EUP

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Description: Prepare the production department's equivalent units of production for direct materials under each of the following three separateassumptions using the weighted average method for process costing.TotalRequired Information[The following information a

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 11E: The charges to Work in ProcessAssembly Department for a period, together with information concerning...

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Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 25% complete with regard to conversion costs.
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
Assigning indirect costs to departments is completed by __________________________. applying the predetermined overhead rate debiting the manufacturing costs incurred applying the costs to manufacturing overhead applying the costs to work in process inventory
During production, how are the costs in process costing accumulated? A. to cost of goods sold B. to each individual product C. to manufacturing overhead D. to each individual department
Which of the following is the step in which materials, labor, and overhead are detailed? A. determining the units to which costs are assigned B. determining the equivalent units of production C. determining the cost per equivalent units D. allocating the costs to the units transferred out and the units partially completed
In a process costing system, which account shows the overhead assigned to the department? A. cost of goods sold B. finished goods inventory C. raw material inventory D. work in process inventory
Materials are added at the beginning of a production process, and ending work in process inventory is 30% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method.
To record the transfer of costs from a prior process to a subsequent process, the following entry would be made: a. debit Finished Goods and credit Work in Process. b. debit Work in Process (subsequent department) and credit Transferred-In Materials. c. debit Work in Process (prior department) and credit Work in Process (subsequent department). d. debit Work in Process (subsequent department) and credit Work in Process (prior department) e. None of these.
The following data are for four independent process-costing departments. Inputs are added continuously. Required: Compute the equivalent units of production for each of the preceding departments using the weighted average method.
Which of the following production characteristics is better suited for process costing and not job order costing? Each product batch is distinguishable from the prior batch. The costs are easily traced to a specific product. Costs are accumulated by department. The value of work in process is the direct material used, the direct labor incurred, and the overhead applied to the job in process.
Which of the following product situations is better suited to job order costing than to process costing? A. Each product batch is exactly the same as the prior batch. B. The costs are easily traced to a specific product. C. Costs are accumulated by department. D. The value of work in process is based on assigning standard costs.
Assuming that all materials are added at the beginning of the process and that labor and factory overhead are applied evenly during the process, compute the figures to be inserted in the blank spaces of the following data, using the weighted average cost method. [Hint: for best success in solving each Case, solve them in numerical order starting with (1)]