Wildhorse Industries works hard to keep pace with demand for its modern chandelier. To get it out the door, Wildhorse first machinesraw materials into key component parts. Next, the component parts are assembled. These two processing departments work together,coordinating the output from the machining process into the assembly process. All DM resources are added at the beginning of themachining process, while conversion costs are added evenly throughout the process. For May, the following information was availablefor the machining process.UnitsDMConversion CostsUnits in beginning WIP Inventory700Beginning WIP Inventory degree of completion270%Costs in beginning WIP Inventory$36,500$19,650New units started9,200Costs added to WIP Inventory this period$349.600$186,270Units completed9,000Units in ending WIP Inventory900Ending WIP Inventory degree of completion?40%(b)Determine the total cost of units completed and the cost of units in ending WIP Inventory-Machining in May by completing Steps1-5 of the template, assuming Wildhorse Industries uses the weighted-average method of process costing.Total cost of units completed$Cost of units in ending WIP Inventory$品(Ctrl)、

Calculate the Equivalent Units:Equivalent units for Direct Materials (DM) = Units completed +…

Answered: Wildhorse Industries works hard to keep…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 17M

See similar textbooks

Similar questions

Crane Industries works hard to keep pace with demand for its modern chandelier. To get it out the door, Crane first machines raw materials into key component parts. Next, the component parts are assembled. These two processing departments work together, coordinating the output from the machining process into the assembly process. All DM resources are added at the beginning of the machining process, while conversion costs are added evenly throughout the process. For May, the following information was available for the machining process. Units in beginning WIP Inventory Beginning WIP Inventory degree of completion Costs in beginning WIP Inventory New units started Costs added to WIP Inventory this period Units completed Units in ending WIP Inventory Ending WIP Inventory degree of completion (a) Total cost of units completed Cost of units in ending WIP Inventory $ Units $ 400 7,900 7,100 1,200 DM ? $35,800 $379,200 ? Conversion Costs 70% Determine the total cost of units completed and the…
Langley Company is a manufacturer of contemporary door handles. The vice president of Design attends home shows twice a year so the company can keep current with home trends. Because of its volume, Langley uses process costing to account for production. Costs and output figures for August are as follows: (Click the icon to view the data.) Required Requirement 1. Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Enter the physical units first, and then calculate the equivalent units. (Round your answers to the nearest whole unit.) Flow of Production Work in process, beginning Started during current period To account for Completed and transferred out during current period From beginning work in process Started and completed Work in process, ending Accounted for Work in process, beginning Costs added in current period at standard costs Physical Units Total costs to account for 15,375 100,375 115,750 15,375 80,000…
how can i resolve this problem? Arona Corporation manufactures canoes in two departments, Fabrication and Waterproofing. In the Fabrication Department, fiberglass panels are attached to a canoe- shaped aluminum frame. The canoes are then transferred to the Waterproofing department to be coated with sealant. Arona uses a weighted-average process cost system to collect costs in both departments. All materials in the Fabrication Department are added at the beginning of the production process. On July 1, the Fabrication Department had 30 canoes in process that were 20% complete with respect to conversion cost. On July 31, Fabrication had 20 canoes in process that were 40% complete with respect to conversion cost. During July, the Fabrication Department completed 90 canoes and transferred them to the Waterproofing Department. What are the Fabrication Department's equivalent units of production related to conversion costs for July?
Use the following information for the Quick Study below. (Algo) [The following Information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 11,300 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Cost of beginning work in process Direct materials Conversion Costs added this month Direct materials Conversion Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion Units Total costs accounted for 3,000 11,300 10,000 4,300 Percent Complete for Direct Materials 70% CARLBERG COMPANY $ 1,533 761 11,907 21,819 80% QS 16-12 (Algo) Weighted average: Assigning costs to output LO P1 Assign costs to the Assembly…
CardioTrainer Equipment Company manufactures stationary bicycles and treadmills. The products are produced in the Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows: Activity Activity Rate Fabrication $22 per machine hour (mh) Assembly $12 per direct labor hour (dlh) Setup $40 per setup Inspecting $18 per inspection Production scheduling $8 per production order Purchasing $5 per purchase order The activity-base usage quantities and units produced for each product were as follows: Stationary Bicycle Treadmill Machine hours 1,680 1,070 Direct labor hours 243 131 Setups 45 20 Inspections 158 94 Production orders 60 32 Purchase orders 240 98 Units produced 500 350 Use the activity rate and usage information to compute the total activity…
Berrian Company manufactures car seats in its Tulsa plant. Each car seat passes through the assembly department and the testing department. This problem focuses on the assembly department. Data for the assembly department for October 2017 are as follows: Read the requirements3. Requirement 1. For each cost category, compute equivalent units in the assembly department. Show physical units in the first column of your schedule. Equivalent Units Physical Direct Conversion Flow of Production Units Materials Costs Work in process beginning Started during current period To account for Completed and transferred out during current period Work in process, ending Accounted for Work done to date Requirement 2. What issues should the manager focus on when reviewing the equivalent-unit calculations? To show better…
Blossom Company manufactures basketballs. The first step is the production of internal rubber bladders. Materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Production and cost data for the Bladder Department for July 2025 are as follows. Production Data-Basketballs. Work in process units, July 1 Units started into production Work in process units, July 31 Cost Data-Basketballs Work in process, July 1 Materials Conversion costs Costs added during July Direct materials Direct labor Manufacturing overhead (a1) $700 Equivalent Units 550 Units Materials 400 1,000 500 $1,250 1,960 1,200 1,000 Percent Complete 60 % Calculate the equivalent units of production for materials and conversion costs. 40 % Conversion Costs
CardioTrainer Equipment Company manufactures stationary bicycles and treadmills. The products are produced in the Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows:ActivityActivity RateFabrication$22 per machine hour (mh)Assembly$12 per direct labor hour (dlh)Setup$40 per setupInspecting$18 per inspectionProduction scheduling$8 per production orderPurchasing$5 per purchase orderThe activity-base usage quantities and units produced for each product were as follows:Stationary BicycleTreadmillMachine hours1,6801,070 Direct labor hours243131 Setups4520 Inspections15894 Production orders6032 Purchase orders24098 Units produced500350Use the activity rate and usage information to compute the total activity costs and the activity costs per unit for each product. If required, round your answers to two decimal places.
PBB Company manufactures high end product. Because of the high volume of this type of product, the company employs a process cost system using the weighted average method to determine costs. Product Parts are manufactured in the Molding Department and transferred to the assembly Department were they are partially assembled. After assembly, the product is sent to packaging department. Cost per unit data for the high end product has been completed through the Molding department. Annual cost and production figures for the assembly Department are presented below: Production Data Beg. Inventory 50% Complete as to Assembly materials; 20% complete 3,000 as to Conversion units 45,000 Transferred In during the year units 40,000 Transferred to Packaging Department units 4,000 Ending Inventory 80% complete units Cost Data: Transferred-In Materials Conversion Current Period P 1,240,800 P 97,020 P 236,470 Work in Process, beginning 82,200 6,660 11,930 Damage product are identified on inspection…
[The following information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 11,500 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Cost of beginning work in process Direct materials Conversion Costs added this month Direct materials Conversion View transaction list Journal entry worksheet 1 Units Note: Enter debits before credits. 3,000 11,500 10,000 4,500 Date General Journal November 30 Work in process inventory-Painting Work in process inventory-Assembly Percent Complete for Percent Direct Materials 60% $ 1,340 1,025 17,700 18,270 80% Prepare the November 30 journal entry to record the transfer of costs from the Assembly department to the Painting…
Time Clock Shop manufactures clocks on an automated assembly line. It utilizes two cost categories: direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of production, while conversion costs are allocated evenly throughout production. The company uses weighted-average costing. Data for the Assembly Department are given in the table. (Click the icon to view the table.) What is the total amount debited to the work-in-process account during the month of June at Time Clock Shop? A. $450,000 B. $2,270,000 C. $3,250,000 D. $2,000,000 E. $2,450,000 Table Work in process, beginning inventory Direct materials (100% complete) Conversion costs (50% complete) Units started during June Work in process, ending inventory Direct materials (100% complete) Conversion costs (75% complete) Work in process, beginning inventory Direct materials Conversion costs Direct materials costs added during…
Kremel Company uses a process-costing system. The company manufactures a product that is processed in two departments: molding and assembly. In the molding department, direct materials are added at the beginning of the process; in the assembly department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the production activity and costs for March: Required:1. Using the Weighted average cost method, prepare the following for the molding department: a. A physical flow schedule b. An equivalent units calculation c. Calculation of unit costs d. Cost of ending work in process and cost of goods transferred out e. A cost reconciliation2. Prepare journal entries that show the flow of manufacturing costs for the molding department.

SEE MORE QUESTIONS

Recommended textbooks for you

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS