Number of transferred out goods and work in process (ending).

Question

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Answer 1

Question

Chapter 16, Problem 20E

1.

To determine

To compute: Number of transferred out goods and work in process (ending).

1.

Expert Solution

Explanation of Solution

Number of transferred out goods is 23,000 units.

Hence, number of transferred out goods is 23,000 units.

Given,
Work in process (opening) is 2,000 units.
New started units this month are 28,000 units.
Number of transferred out goods is 23,000.

Formula to calculate work in process (ending),

$Work in process ( ending )=( Work in process (opening) +New started during the month −Number of transferred out goods )$

Substitute 2,000 units for work in process (opening), 28,000 units for new started this month and 23,000 units fornumber of transferred out goods.

$Work in process ( ending )=2,000+28,000−23,000 =7,000$

Hence, work in process (ending) is 7,000.

2.

To determine

To compute: Equivalent unit of production according to weighted average method for direct material cost.

2.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 7,000 units.

Formula to calculate equivalent unit of production (direct material),

$Equivalent unit of production (direct material)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 7,000 units for work in progress (ending).

$Equivalent unit of production (direct material)=23,000+7,000 =30,000$

Hence, equivalent unit of production (direct material) is 30,000 units.

Working notes:

Calculation for work in progress (ending),

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 100 100 =7,000$

3.

To determine

To compute: Equivalent unit of production according to weighted average method for conversion cost.

3.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 2,800 units.

Formula to calculate equivalent unit of production (conversion),

$Equivalent unit of production (conversion)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 2,800 units for work in progress (ending).

$Equivalent Unit of Production=23,000+2,800 =25,800$

Hence, equivalent unit of production (conversion) is 25,800 units.

Working notes:

Calculation for work in progress,

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 40 100 =2,800$

4.

To determine

To compute: Cost per equivalent unit of production for direct material.

4.

Expert Solution

Explanation of Solution

Given,
Total direct material cost is $420,000.
Total EUP (direct material) is 30,000 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (direct material)= Total direct material cost Total EUP (direct material)$

Substitute, $420,000 for total direct material cost and 30,000 units for total EUP (direct material) in the above equation.

$Cost per EUP (direct material)= $420,000 30,000 =$14$

Hence, cost per EUP (direct material) is $14.

Working notes:

Calculation for total direct material cost,

$Total direct material cost=( Direct material in the opening inventory +Direct matrial used during the month ) =$45,000+$375,000 =$420,000$

5.

To determine

To compute: Cost per equivalent unit of production for conversion.

5.

Expert Solution

Explanation of Solution

Given,
Total conversion cost is $397,320.
Total EUP (conversion) is 25,800 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (conversion)= Total direct material cost Total EUP (conversion)$

Substitute $397,320 for total conversion cost and 25,800 units for total EUP (conversion).

$Cost per EUP (conversion)= $397,320 25,800 =$15.4$

Hence, cost per EUP (conversion) is $15.4.

Working notes:

Calculation for total direct material cost,

$Total Conversion Cost=( Conversion Cost In the opening inventory +Conversion Cost used during the month ) =$56,320+$341,000 =$397,320$

6.

To determine

To compute: Cost of goods transferred out.

6.

Expert Solution

Explanation of Solution

Given,
Direct material cost for completed goods is $322,000.
Conversion cost for completed goods is $354,200.

Formula to calculate the cost of goods transferred out,

$Cost of transferrred out goods=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute, $322,000 for direct material cost for completed goods and $354,200 for conversion cost for completed goods in the above equation.

$Cost of transferrred out goods=$322,000+$354,200 =$676,200$

Hence, cost of unit completed is $676,200.

Working notes:

Calculation for direct material cost for completed goods,

$Direct material cost for completed goods=( Completed goods ×Cost per EUP (direct material) ) =23,000×$14 =$322,000$

Calculation for conversion cost for completed goods,

$Conversion cost for completed goods=( Completed goods ×Cost per EUP (conversion) ) =23,000×$15.4 =$354,200$

7.

To determine

To compute: Cost of work in process (end).

7.

Expert Solution

Explanation of Solution

Given,
Direct material cost for work in process (end) is $98,000.
Conversion cost for work in process (end) is $43,120.

Formula to calculate the cost of work in process (end),

$Cost of work in process ( end )=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute $98,000 for direct material cost for work in process (end) and $43,120 for conversion cost for work in process (end).

$Cost of work in process ( end )=$98,000+$43,120 =$141,120$

Hence, cost of work in process (end) is $141,120.

Working notes:

Calculation for direct material cost for work in process (end),

$[ Direct material cost for work in process ( end ) ]=[ EUP (direct material) for work in process ( end ) ×Cost per EUP (direct material) ] =7,000×$14 =$98,000$

Calculation for conversion cost for work in process (end),

$[ Conversion cost for work in process ( end ) ]=[ EUP (conversion) for work in process ( end ) ×Cost per EUP (conversion) ] =2,800×$15.4 =$43,120$

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Answer 2

Question

Chapter 16, Problem 20E

1.

To determine

To compute: Number of transferred out goods and work in process (ending).

1.

Expert Solution

Explanation of Solution

Number of transferred out goods is 23,000 units.

Hence, number of transferred out goods is 23,000 units.

Given,
Work in process (opening) is 2,000 units.
New started units this month are 28,000 units.
Number of transferred out goods is 23,000.

Formula to calculate work in process (ending),

$Work in process ( ending )=( Work in process (opening) +New started during the month −Number of transferred out goods )$

Substitute 2,000 units for work in process (opening), 28,000 units for new started this month and 23,000 units fornumber of transferred out goods.

$Work in process ( ending )=2,000+28,000−23,000 =7,000$

Hence, work in process (ending) is 7,000.

2.

To determine

To compute: Equivalent unit of production according to weighted average method for direct material cost.

2.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 7,000 units.

Formula to calculate equivalent unit of production (direct material),

$Equivalent unit of production (direct material)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 7,000 units for work in progress (ending).

$Equivalent unit of production (direct material)=23,000+7,000 =30,000$

Hence, equivalent unit of production (direct material) is 30,000 units.

Working notes:

Calculation for work in progress (ending),

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 100 100 =7,000$

3.

To determine

To compute: Equivalent unit of production according to weighted average method for conversion cost.

3.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 2,800 units.

Formula to calculate equivalent unit of production (conversion),

$Equivalent unit of production (conversion)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 2,800 units for work in progress (ending).

$Equivalent Unit of Production=23,000+2,800 =25,800$

Hence, equivalent unit of production (conversion) is 25,800 units.

Working notes:

Calculation for work in progress,

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 40 100 =2,800$

4.

To determine

To compute: Cost per equivalent unit of production for direct material.

4.

Expert Solution

Explanation of Solution

Given,
Total direct material cost is $420,000.
Total EUP (direct material) is 30,000 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (direct material)= Total direct material cost Total EUP (direct material)$

Substitute, $420,000 for total direct material cost and 30,000 units for total EUP (direct material) in the above equation.

$Cost per EUP (direct material)= $420,000 30,000 =$14$

Hence, cost per EUP (direct material) is $14.

Working notes:

Calculation for total direct material cost,

$Total direct material cost=( Direct material in the opening inventory +Direct matrial used during the month ) =$45,000+$375,000 =$420,000$

5.

To determine

To compute: Cost per equivalent unit of production for conversion.

5.

Expert Solution

Explanation of Solution

Given,
Total conversion cost is $397,320.
Total EUP (conversion) is 25,800 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (conversion)= Total direct material cost Total EUP (conversion)$

Substitute $397,320 for total conversion cost and 25,800 units for total EUP (conversion).

$Cost per EUP (conversion)= $397,320 25,800 =$15.4$

Hence, cost per EUP (conversion) is $15.4.

Working notes:

Calculation for total direct material cost,

$Total Conversion Cost=( Conversion Cost In the opening inventory +Conversion Cost used during the month ) =$56,320+$341,000 =$397,320$

6.

To determine

To compute: Cost of goods transferred out.

6.

Expert Solution

Explanation of Solution

Given,
Direct material cost for completed goods is $322,000.
Conversion cost for completed goods is $354,200.

Formula to calculate the cost of goods transferred out,

$Cost of transferrred out goods=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute, $322,000 for direct material cost for completed goods and $354,200 for conversion cost for completed goods in the above equation.

$Cost of transferrred out goods=$322,000+$354,200 =$676,200$

Hence, cost of unit completed is $676,200.

Working notes:

Calculation for direct material cost for completed goods,

$Direct material cost for completed goods=( Completed goods ×Cost per EUP (direct material) ) =23,000×$14 =$322,000$

Calculation for conversion cost for completed goods,

$Conversion cost for completed goods=( Completed goods ×Cost per EUP (conversion) ) =23,000×$15.4 =$354,200$

7.

To determine

To compute: Cost of work in process (end).

7.

Expert Solution

Explanation of Solution

Given,
Direct material cost for work in process (end) is $98,000.
Conversion cost for work in process (end) is $43,120.

Formula to calculate the cost of work in process (end),

$Cost of work in process ( end )=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute $98,000 for direct material cost for work in process (end) and $43,120 for conversion cost for work in process (end).

$Cost of work in process ( end )=$98,000+$43,120 =$141,120$

Hence, cost of work in process (end) is $141,120.

Working notes:

Calculation for direct material cost for work in process (end),

$[ Direct material cost for work in process ( end ) ]=[ EUP (direct material) for work in process ( end ) ×Cost per EUP (direct material) ] =7,000×$14 =$98,000$

Calculation for conversion cost for work in process (end),

$[ Conversion cost for work in process ( end ) ]=[ EUP (conversion) for work in process ( end ) ×Cost per EUP (conversion) ] =2,800×$15.4 =$43,120$

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Answer 3

Question

Chapter 16, Problem 20E

1.

To determine

To compute: Number of transferred out goods and work in process (ending).

1.

Expert Solution

Explanation of Solution

Number of transferred out goods is 23,000 units.

Hence, number of transferred out goods is 23,000 units.

Given,
Work in process (opening) is 2,000 units.
New started units this month are 28,000 units.
Number of transferred out goods is 23,000.

Formula to calculate work in process (ending),

$Work in process ( ending )=( Work in process (opening) +New started during the month −Number of transferred out goods )$

Substitute 2,000 units for work in process (opening), 28,000 units for new started this month and 23,000 units fornumber of transferred out goods.

$Work in process ( ending )=2,000+28,000−23,000 =7,000$

Hence, work in process (ending) is 7,000.

2.

To determine

To compute: Equivalent unit of production according to weighted average method for direct material cost.

2.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 7,000 units.

Formula to calculate equivalent unit of production (direct material),

$Equivalent unit of production (direct material)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 7,000 units for work in progress (ending).

$Equivalent unit of production (direct material)=23,000+7,000 =30,000$

Hence, equivalent unit of production (direct material) is 30,000 units.

Working notes:

Calculation for work in progress (ending),

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 100 100 =7,000$

3.

To determine

To compute: Equivalent unit of production according to weighted average method for conversion cost.

3.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 2,800 units.

Formula to calculate equivalent unit of production (conversion),

$Equivalent unit of production (conversion)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 2,800 units for work in progress (ending).

$Equivalent Unit of Production=23,000+2,800 =25,800$

Hence, equivalent unit of production (conversion) is 25,800 units.

Working notes:

Calculation for work in progress,

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 40 100 =2,800$

4.

To determine

To compute: Cost per equivalent unit of production for direct material.

4.

Expert Solution

Explanation of Solution

Given,
Total direct material cost is $420,000.
Total EUP (direct material) is 30,000 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (direct material)= Total direct material cost Total EUP (direct material)$

Substitute, $420,000 for total direct material cost and 30,000 units for total EUP (direct material) in the above equation.

$Cost per EUP (direct material)= $420,000 30,000 =$14$

Hence, cost per EUP (direct material) is $14.

Working notes:

Calculation for total direct material cost,

$Total direct material cost=( Direct material in the opening inventory +Direct matrial used during the month ) =$45,000+$375,000 =$420,000$

5.

To determine

To compute: Cost per equivalent unit of production for conversion.

5.

Expert Solution

Explanation of Solution

Given,
Total conversion cost is $397,320.
Total EUP (conversion) is 25,800 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (conversion)= Total direct material cost Total EUP (conversion)$

Substitute $397,320 for total conversion cost and 25,800 units for total EUP (conversion).

$Cost per EUP (conversion)= $397,320 25,800 =$15.4$

Hence, cost per EUP (conversion) is $15.4.

Working notes:

Calculation for total direct material cost,

$Total Conversion Cost=( Conversion Cost In the opening inventory +Conversion Cost used during the month ) =$56,320+$341,000 =$397,320$

6.

To determine

To compute: Cost of goods transferred out.

6.

Expert Solution

Explanation of Solution

Given,
Direct material cost for completed goods is $322,000.
Conversion cost for completed goods is $354,200.

Formula to calculate the cost of goods transferred out,

$Cost of transferrred out goods=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute, $322,000 for direct material cost for completed goods and $354,200 for conversion cost for completed goods in the above equation.

$Cost of transferrred out goods=$322,000+$354,200 =$676,200$

Hence, cost of unit completed is $676,200.

Working notes:

Calculation for direct material cost for completed goods,

$Direct material cost for completed goods=( Completed goods ×Cost per EUP (direct material) ) =23,000×$14 =$322,000$

Calculation for conversion cost for completed goods,

$Conversion cost for completed goods=( Completed goods ×Cost per EUP (conversion) ) =23,000×$15.4 =$354,200$

7.

To determine

To compute: Cost of work in process (end).

7.

Expert Solution

Explanation of Solution

Given,
Direct material cost for work in process (end) is $98,000.
Conversion cost for work in process (end) is $43,120.

Formula to calculate the cost of work in process (end),

$Cost of work in process ( end )=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute $98,000 for direct material cost for work in process (end) and $43,120 for conversion cost for work in process (end).

$Cost of work in process ( end )=$98,000+$43,120 =$141,120$

Hence, cost of work in process (end) is $141,120.

Working notes:

Calculation for direct material cost for work in process (end),

$[ Direct material cost for work in process ( end ) ]=[ EUP (direct material) for work in process ( end ) ×Cost per EUP (direct material) ] =7,000×$14 =$98,000$

Calculation for conversion cost for work in process (end),

$[ Conversion cost for work in process ( end ) ]=[ EUP (conversion) for work in process ( end ) ×Cost per EUP (conversion) ] =2,800×$15.4 =$43,120$

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Answer 4

Question

Chapter 16, Problem 20E

1.

To determine

To compute: Number of transferred out goods and work in process (ending).

1.

Expert Solution

Explanation of Solution

Number of transferred out goods is 23,000 units.

Hence, number of transferred out goods is 23,000 units.

Given,
Work in process (opening) is 2,000 units.
New started units this month are 28,000 units.
Number of transferred out goods is 23,000.

Formula to calculate work in process (ending),

$Work in process ( ending )=( Work in process (opening) +New started during the month −Number of transferred out goods )$

Substitute 2,000 units for work in process (opening), 28,000 units for new started this month and 23,000 units fornumber of transferred out goods.

$Work in process ( ending )=2,000+28,000−23,000 =7,000$

Hence, work in process (ending) is 7,000.

2.

To determine

To compute: Equivalent unit of production according to weighted average method for direct material cost.

2.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 7,000 units.

Formula to calculate equivalent unit of production (direct material),

$Equivalent unit of production (direct material)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 7,000 units for work in progress (ending).

$Equivalent unit of production (direct material)=23,000+7,000 =30,000$

Hence, equivalent unit of production (direct material) is 30,000 units.

Working notes:

Calculation for work in progress (ending),

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 100 100 =7,000$

3.

To determine

To compute: Equivalent unit of production according to weighted average method for conversion cost.

3.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 2,800 units.

Formula to calculate equivalent unit of production (conversion),

$Equivalent unit of production (conversion)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 2,800 units for work in progress (ending).

$Equivalent Unit of Production=23,000+2,800 =25,800$

Hence, equivalent unit of production (conversion) is 25,800 units.

Working notes:

Calculation for work in progress,

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 40 100 =2,800$

4.

To determine

To compute: Cost per equivalent unit of production for direct material.

4.

Expert Solution

Explanation of Solution

Given,
Total direct material cost is $420,000.
Total EUP (direct material) is 30,000 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (direct material)= Total direct material cost Total EUP (direct material)$

Substitute, $420,000 for total direct material cost and 30,000 units for total EUP (direct material) in the above equation.

$Cost per EUP (direct material)= $420,000 30,000 =$14$

Hence, cost per EUP (direct material) is $14.

Working notes:

Calculation for total direct material cost,

$Total direct material cost=( Direct material in the opening inventory +Direct matrial used during the month ) =$45,000+$375,000 =$420,000$

5.

To determine

To compute: Cost per equivalent unit of production for conversion.

5.

Expert Solution

Explanation of Solution

Given,
Total conversion cost is $397,320.
Total EUP (conversion) is 25,800 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (conversion)= Total direct material cost Total EUP (conversion)$

Substitute $397,320 for total conversion cost and 25,800 units for total EUP (conversion).

$Cost per EUP (conversion)= $397,320 25,800 =$15.4$

Hence, cost per EUP (conversion) is $15.4.

Working notes:

Calculation for total direct material cost,

$Total Conversion Cost=( Conversion Cost In the opening inventory +Conversion Cost used during the month ) =$56,320+$341,000 =$397,320$

6.

To determine

To compute: Cost of goods transferred out.

6.

Expert Solution

Explanation of Solution

Given,
Direct material cost for completed goods is $322,000.
Conversion cost for completed goods is $354,200.

Formula to calculate the cost of goods transferred out,

$Cost of transferrred out goods=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute, $322,000 for direct material cost for completed goods and $354,200 for conversion cost for completed goods in the above equation.

$Cost of transferrred out goods=$322,000+$354,200 =$676,200$

Hence, cost of unit completed is $676,200.

Working notes:

Calculation for direct material cost for completed goods,

$Direct material cost for completed goods=( Completed goods ×Cost per EUP (direct material) ) =23,000×$14 =$322,000$

Calculation for conversion cost for completed goods,

$Conversion cost for completed goods=( Completed goods ×Cost per EUP (conversion) ) =23,000×$15.4 =$354,200$

7.

To determine

To compute: Cost of work in process (end).

7.

Expert Solution

Explanation of Solution

Given,
Direct material cost for work in process (end) is $98,000.
Conversion cost for work in process (end) is $43,120.

Formula to calculate the cost of work in process (end),

$Cost of work in process ( end )=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute $98,000 for direct material cost for work in process (end) and $43,120 for conversion cost for work in process (end).

$Cost of work in process ( end )=$98,000+$43,120 =$141,120$

Hence, cost of work in process (end) is $141,120.

Working notes:

Calculation for direct material cost for work in process (end),

$[ Direct material cost for work in process ( end ) ]=[ EUP (direct material) for work in process ( end ) ×Cost per EUP (direct material) ] =7,000×$14 =$98,000$

Calculation for conversion cost for work in process (end),

$[ Conversion cost for work in process ( end ) ]=[ EUP (conversion) for work in process ( end ) ×Cost per EUP (conversion) ] =2,800×$15.4 =$43,120$

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Answer 5

Chapter 16, Problem 20E

1.

To determine

To compute: Number of transferred out goods and work in process (ending).

1.

Expert Solution

Explanation of Solution

Number of transferred out goods is 23,000 units.

Hence, number of transferred out goods is 23,000 units.

Given,
Work in process (opening) is 2,000 units.
New started units this month are 28,000 units.
Number of transferred out goods is 23,000.

Formula to calculate work in process (ending),

$Work in process ( ending )=( Work in process (opening) +New started during the month −Number of transferred out goods )$

Substitute 2,000 units for work in process (opening), 28,000 units for new started this month and 23,000 units fornumber of transferred out goods.

$Work in process ( ending )=2,000+28,000−23,000 =7,000$

Hence, work in process (ending) is 7,000.

2.

To determine

To compute: Equivalent unit of production according to weighted average method for direct material cost.

2.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 7,000 units.

Formula to calculate equivalent unit of production (direct material),

$Equivalent unit of production (direct material)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 7,000 units for work in progress (ending).

$Equivalent unit of production (direct material)=23,000+7,000 =30,000$

Hence, equivalent unit of production (direct material) is 30,000 units.

Working notes:

Calculation for work in progress (ending),

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 100 100 =7,000$

3.

To determine

To compute: Equivalent unit of production according to weighted average method for conversion cost.

3.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 2,800 units.

Formula to calculate equivalent unit of production (conversion),

$Equivalent unit of production (conversion)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 2,800 units for work in progress (ending).

$Equivalent Unit of Production=23,000+2,800 =25,800$

Hence, equivalent unit of production (conversion) is 25,800 units.

Working notes:

Calculation for work in progress,

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 40 100 =2,800$

4.

To determine

To compute: Cost per equivalent unit of production for direct material.

4.

Expert Solution

Explanation of Solution

Given,
Total direct material cost is $420,000.
Total EUP (direct material) is 30,000 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (direct material)= Total direct material cost Total EUP (direct material)$

Substitute, $420,000 for total direct material cost and 30,000 units for total EUP (direct material) in the above equation.

$Cost per EUP (direct material)= $420,000 30,000 =$14$

Hence, cost per EUP (direct material) is $14.

Working notes:

Calculation for total direct material cost,

$Total direct material cost=( Direct material in the opening inventory +Direct matrial used during the month ) =$45,000+$375,000 =$420,000$

5.

To determine

To compute: Cost per equivalent unit of production for conversion.

5.

Expert Solution

Explanation of Solution

Given,
Total conversion cost is $397,320.
Total EUP (conversion) is 25,800 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (conversion)= Total direct material cost Total EUP (conversion)$

Substitute $397,320 for total conversion cost and 25,800 units for total EUP (conversion).

$Cost per EUP (conversion)= $397,320 25,800 =$15.4$

Hence, cost per EUP (conversion) is $15.4.

Working notes:

Calculation for total direct material cost,

$Total Conversion Cost=( Conversion Cost In the opening inventory +Conversion Cost used during the month ) =$56,320+$341,000 =$397,320$

6.

To determine

To compute: Cost of goods transferred out.

6.

Expert Solution

Explanation of Solution

Given,
Direct material cost for completed goods is $322,000.
Conversion cost for completed goods is $354,200.

Formula to calculate the cost of goods transferred out,

$Cost of transferrred out goods=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute, $322,000 for direct material cost for completed goods and $354,200 for conversion cost for completed goods in the above equation.

$Cost of transferrred out goods=$322,000+$354,200 =$676,200$

Hence, cost of unit completed is $676,200.

Working notes:

Calculation for direct material cost for completed goods,

$Direct material cost for completed goods=( Completed goods ×Cost per EUP (direct material) ) =23,000×$14 =$322,000$

Calculation for conversion cost for completed goods,

$Conversion cost for completed goods=( Completed goods ×Cost per EUP (conversion) ) =23,000×$15.4 =$354,200$

7.

To determine

To compute: Cost of work in process (end).

7.

Expert Solution

Explanation of Solution

Given,
Direct material cost for work in process (end) is $98,000.
Conversion cost for work in process (end) is $43,120.

Formula to calculate the cost of work in process (end),

$Cost of work in process ( end )=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute $98,000 for direct material cost for work in process (end) and $43,120 for conversion cost for work in process (end).

$Cost of work in process ( end )=$98,000+$43,120 =$141,120$

Hence, cost of work in process (end) is $141,120.

Working notes:

Calculation for direct material cost for work in process (end),

$[ Direct material cost for work in process ( end ) ]=[ EUP (direct material) for work in process ( end ) ×Cost per EUP (direct material) ] =7,000×$14 =$98,000$

Calculation for conversion cost for work in process (end),

$[ Conversion cost for work in process ( end ) ]=[ EUP (conversion) for work in process ( end ) ×Cost per EUP (conversion) ] =2,800×$15.4 =$43,120$

Answer 6

Chapter 16, Problem 20E

1.

To determine

To compute: Number of transferred out goods and work in process (ending).

1.

Expert Solution

Explanation of Solution

Number of transferred out goods is 23,000 units.

Hence, number of transferred out goods is 23,000 units.

Given,
Work in process (opening) is 2,000 units.
New started units this month are 28,000 units.
Number of transferred out goods is 23,000.

Formula to calculate work in process (ending),

$Work in process ( ending )=( Work in process (opening) +New started during the month −Number of transferred out goods )$

Substitute 2,000 units for work in process (opening), 28,000 units for new started this month and 23,000 units fornumber of transferred out goods.

$Work in process ( ending )=2,000+28,000−23,000 =7,000$

Hence, work in process (ending) is 7,000.

Answer 7

Chapter 16, Problem 20E

1.

To determine

To compute: Number of transferred out goods and work in process (ending).

Answer 8

1.

Expert Solution

Explanation of Solution

Number of transferred out goods is 23,000 units.

Hence, number of transferred out goods is 23,000 units.

Given,
Work in process (opening) is 2,000 units.
New started units this month are 28,000 units.
Number of transferred out goods is 23,000.

Formula to calculate work in process (ending),

$Work in process ( ending )=( Work in process (opening) +New started during the month −Number of transferred out goods )$

Substitute 2,000 units for work in process (opening), 28,000 units for new started this month and 23,000 units fornumber of transferred out goods.

$Work in process ( ending )=2,000+28,000−23,000 =7,000$

Hence, work in process (ending) is 7,000.

Answer 9

1.

Expert Solution

Answer 10

1.

Expert Solution

Answer 11

Expert Solution

Answer 12

2.

To determine

To compute: Equivalent unit of production according to weighted average method for direct material cost.

2.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 7,000 units.

Formula to calculate equivalent unit of production (direct material),

$Equivalent unit of production (direct material)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 7,000 units for work in progress (ending).

$Equivalent unit of production (direct material)=23,000+7,000 =30,000$

Hence, equivalent unit of production (direct material) is 30,000 units.

Working notes:

Calculation for work in progress (ending),

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 100 100 =7,000$

Answer 13

2.

To determine

To compute: Equivalent unit of production according to weighted average method for direct material cost.

Answer 14

2.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 7,000 units.

Formula to calculate equivalent unit of production (direct material),

$Equivalent unit of production (direct material)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 7,000 units for work in progress (ending).

$Equivalent unit of production (direct material)=23,000+7,000 =30,000$

Hence, equivalent unit of production (direct material) is 30,000 units.

Working notes:

Calculation for work in progress (ending),

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 100 100 =7,000$

Answer 15

2.

Expert Solution

Answer 16

2.

Expert Solution

Answer 17

Expert Solution

Answer 18

3.

To determine

To compute: Equivalent unit of production according to weighted average method for conversion cost.

3.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 2,800 units.

Formula to calculate equivalent unit of production (conversion),

$Equivalent unit of production (conversion)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 2,800 units for work in progress (ending).

$Equivalent Unit of Production=23,000+2,800 =25,800$

Hence, equivalent unit of production (conversion) is 25,800 units.

Working notes:

Calculation for work in progress,

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 40 100 =2,800$

Answer 19

3.

To determine

To compute: Equivalent unit of production according to weighted average method for conversion cost.

Answer 20

3.

Expert Solution

Explanation of Solution

Given,
Completed goods are 23,000 units.
Work in progress (ending) is 2,800 units.

Formula to calculate equivalent unit of production (conversion),

$Equivalent unit of production (conversion)=( Completed goods +Work in progress (ending) )$

Substitute 23,000 units for completed goods and 2,800 units for work in progress (ending).

$Equivalent Unit of Production=23,000+2,800 =25,800$

Hence, equivalent unit of production (conversion) is 25,800 units.

Working notes:

Calculation for work in progress,

$Work in progress (ending)=Unfinsihed goods×Finished percentage =7,000× 40 100 =2,800$

Answer 21

3.

Expert Solution

Answer 22

3.

Expert Solution

Answer 23

Expert Solution

Answer 24

4.

To determine

To compute: Cost per equivalent unit of production for direct material.

4.

Expert Solution

Explanation of Solution

Given,
Total direct material cost is $420,000.
Total EUP (direct material) is 30,000 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (direct material)= Total direct material cost Total EUP (direct material)$

Substitute, $420,000 for total direct material cost and 30,000 units for total EUP (direct material) in the above equation.

$Cost per EUP (direct material)= $420,000 30,000 =$14$

Hence, cost per EUP (direct material) is $14.

Working notes:

Calculation for total direct material cost,

$Total direct material cost=( Direct material in the opening inventory +Direct matrial used during the month ) =$45,000+$375,000 =$420,000$

Answer 25

4.

To determine

To compute: Cost per equivalent unit of production for direct material.

Answer 26

4.

Expert Solution

Explanation of Solution

Given,
Total direct material cost is $420,000.
Total EUP (direct material) is 30,000 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (direct material)= Total direct material cost Total EUP (direct material)$

Substitute, $420,000 for total direct material cost and 30,000 units for total EUP (direct material) in the above equation.

$Cost per EUP (direct material)= $420,000 30,000 =$14$

Hence, cost per EUP (direct material) is $14.

Working notes:

Calculation for total direct material cost,

$Total direct material cost=( Direct material in the opening inventory +Direct matrial used during the month ) =$45,000+$375,000 =$420,000$

Answer 27

4.

Expert Solution

Answer 28

4.

Expert Solution

Answer 29

Expert Solution

Answer 30

5.

To determine

To compute: Cost per equivalent unit of production for conversion.

5.

Expert Solution

Explanation of Solution

Given,
Total conversion cost is $397,320.
Total EUP (conversion) is 25,800 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (conversion)= Total direct material cost Total EUP (conversion)$

Substitute $397,320 for total conversion cost and 25,800 units for total EUP (conversion).

$Cost per EUP (conversion)= $397,320 25,800 =$15.4$

Hence, cost per EUP (conversion) is $15.4.

Working notes:

Calculation for total direct material cost,

$Total Conversion Cost=( Conversion Cost In the opening inventory +Conversion Cost used during the month ) =$56,320+$341,000 =$397,320$

Answer 31

5.

To determine

To compute: Cost per equivalent unit of production for conversion.

Answer 32

5.

Expert Solution

Explanation of Solution

Given,
Total conversion cost is $397,320.
Total EUP (conversion) is 25,800 units.

Formula to calculate cost per equivalent unit of production,

$Cost per EUP (conversion)= Total direct material cost Total EUP (conversion)$

Substitute $397,320 for total conversion cost and 25,800 units for total EUP (conversion).

$Cost per EUP (conversion)= $397,320 25,800 =$15.4$

Hence, cost per EUP (conversion) is $15.4.

Working notes:

Calculation for total direct material cost,

$Total Conversion Cost=( Conversion Cost In the opening inventory +Conversion Cost used during the month ) =$56,320+$341,000 =$397,320$

Answer 33

5.

Expert Solution

Answer 34

5.

Expert Solution

Answer 35

Expert Solution

Answer 36

6.

To determine

To compute: Cost of goods transferred out.

6.

Expert Solution

Explanation of Solution

Given,
Direct material cost for completed goods is $322,000.
Conversion cost for completed goods is $354,200.

Formula to calculate the cost of goods transferred out,

$Cost of transferrred out goods=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute, $322,000 for direct material cost for completed goods and $354,200 for conversion cost for completed goods in the above equation.

$Cost of transferrred out goods=$322,000+$354,200 =$676,200$

Hence, cost of unit completed is $676,200.

Working notes:

Calculation for direct material cost for completed goods,

$Direct material cost for completed goods=( Completed goods ×Cost per EUP (direct material) ) =23,000×$14 =$322,000$

Calculation for conversion cost for completed goods,

$Conversion cost for completed goods=( Completed goods ×Cost per EUP (conversion) ) =23,000×$15.4 =$354,200$

Answer 37

6.

To determine

To compute: Cost of goods transferred out.

Answer 38

6.

Expert Solution

Explanation of Solution

Given,
Direct material cost for completed goods is $322,000.
Conversion cost for completed goods is $354,200.

Formula to calculate the cost of goods transferred out,

$Cost of transferrred out goods=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute, $322,000 for direct material cost for completed goods and $354,200 for conversion cost for completed goods in the above equation.

$Cost of transferrred out goods=$322,000+$354,200 =$676,200$

Hence, cost of unit completed is $676,200.

Working notes:

Calculation for direct material cost for completed goods,

$Direct material cost for completed goods=( Completed goods ×Cost per EUP (direct material) ) =23,000×$14 =$322,000$

Calculation for conversion cost for completed goods,

$Conversion cost for completed goods=( Completed goods ×Cost per EUP (conversion) ) =23,000×$15.4 =$354,200$

Answer 39

6.

Expert Solution

Answer 40

6.

Expert Solution

Answer 41

Expert Solution

Answer 42

7.

To determine

To compute: Cost of work in process (end).

7.

Expert Solution

Explanation of Solution

Given,
Direct material cost for work in process (end) is $98,000.
Conversion cost for work in process (end) is $43,120.

Formula to calculate the cost of work in process (end),

$Cost of work in process ( end )=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute $98,000 for direct material cost for work in process (end) and $43,120 for conversion cost for work in process (end).

$Cost of work in process ( end )=$98,000+$43,120 =$141,120$

Hence, cost of work in process (end) is $141,120.

Working notes:

Calculation for direct material cost for work in process (end),

$[ Direct material cost for work in process ( end ) ]=[ EUP (direct material) for work in process ( end ) ×Cost per EUP (direct material) ] =7,000×$14 =$98,000$

Calculation for conversion cost for work in process (end),

$[ Conversion cost for work in process ( end ) ]=[ EUP (conversion) for work in process ( end ) ×Cost per EUP (conversion) ] =2,800×$15.4 =$43,120$

Answer 43

7.

To determine

To compute: Cost of work in process (end).

Answer 44

7.

Expert Solution

Explanation of Solution

Given,
Direct material cost for work in process (end) is $98,000.
Conversion cost for work in process (end) is $43,120.

Formula to calculate the cost of work in process (end),

$Cost of work in process ( end )=( Direct material cost for completed goods +Conversion cost for completed goods )$

Substitute $98,000 for direct material cost for work in process (end) and $43,120 for conversion cost for work in process (end).

$Cost of work in process ( end )=$98,000+$43,120 =$141,120$

Hence, cost of work in process (end) is $141,120.

Working notes:

Calculation for direct material cost for work in process (end),

$[ Direct material cost for work in process ( end ) ]=[ EUP (direct material) for work in process ( end ) ×Cost per EUP (direct material) ] =7,000×$14 =$98,000$

Calculation for conversion cost for work in process (end),