Units of Production Units of production data for the two departments of Pacific Cable and Wire Company for November of the current fiscal year are as follows: Drawing Department Winding Department 7,900 units, 40% completed 2,700 units, 75% completed 108,200 units 6,000 units, 80% completed 3,700 units, 30% completed a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of for the Drawing Department. If an amount is zero, enter in "0". Work in process, November 1 Completed and transferred to next processing department during November Work in process, November 30 107,200 units Drawing Department Direct Materials and Conversion Equivalent Units of Production For November Inventory in process, November 1 Started and completed in November Conversion Whole Onits Direct Materials Equivalent Units Equivalent Units
Units of Production Units of production data for the two departments of Pacific Cable and Wire Company for November of the current fiscal year are as follows: Drawing Department Winding Department 7,900 units, 40% completed 2,700 units, 75% completed 108,200 units 6,000 units, 80% completed 3,700 units, 30% completed a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of for the Drawing Department. If an amount is zero, enter in "0". Work in process, November 1 Completed and transferred to next processing department during November Work in process, November 30 107,200 units Drawing Department Direct Materials and Conversion Equivalent Units of Production For November Inventory in process, November 1 Started and completed in November Conversion Whole Onits Direct Materials Equivalent Units Equivalent Units
Chapter1: Financial Statements And Business Decisions
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Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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Transcribed Image Text:b. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for November
for the Winding Department. If an amount is zero, enter in "0".
Inventory in process, November 1
Started and completed in November
Transferred to finished goods in November
Inventory in process, November 30
Total
Winding Department
Direct Materials and Conversion Equivalent Units of Production
For November
Feedback
Feedback
Whole Units
Check My Work
When are the materials added to the units? How much more needs to be done to the beginning units with respect to conversion costs to complete the units? How
much has been added to the units in ending work in process inventory with respect to materials and conversion?
Check My Wors
Partially correct
Direct Materials Conversion
Equivalent Units Equivalent Units
Transcribed Image Text:Equivalent Units of Production
Units of production data for the two departments of Pacific Cable and Wire Company for November of the current fiscal year are as follows:
Drawing Department
Winding Department
7,900 units, 40% completed
2,700 units, 75% completed
Work in process, November 1
Completed and transferred to next
processing department during November
Work in process, November 30
108,200 units
6,000 units, 80% completed
3,700 units, 30% completed
a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of p
for the Drawing Department. If an amount is zero, enter in "0".
Feedback -
107,200 units
Inventory in process, November 1
Started and completed in November
Transferred to Winding Department in November
Inventory in process, November 30
Total
Drawing Department
Direct Materials and Conversion Equivalent Units of Production
For November
Conversion
Equivalent Units Equivalent Units
Whole Onits Direct Materials
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