Process costing : The method of cost accounting which is used to determine cost of that product which passes through various processes. Equivalent units of Production: Equivalent units of production includes the completed units of direct materials and conversion cost of beginning work in process, units completed and transferred out and ending work in process. To prepare: A schedule showing physical units of production.

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Answer 1

Question

Chapter 21, Problem 2PSA

(a)

To determine

Process costing: The method of cost accounting which is used to determine cost of that product which passes through various processes.

Equivalent units of Production: Equivalent units of production includes the completed units of direct materials and conversion cost of beginning work in process, units completed and transferred out and ending work in process.

To prepare: A schedule showing physical units of production.

(b)

To determine

The equivalent units of production for materials and conversion costs.

(c)

To determine

The unit cost of equivalent units.

(d)

To determine

The cost to be assigned to the units transferred out and process for June.

(e)

To determine

To prepare: A production report for the molding department for the month of June.

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Answer 2

Question

Chapter 21, Problem 2PSA

(a)

To determine

Process costing: The method of cost accounting which is used to determine cost of that product which passes through various processes.

Equivalent units of Production: Equivalent units of production includes the completed units of direct materials and conversion cost of beginning work in process, units completed and transferred out and ending work in process.

To prepare: A schedule showing physical units of production.

(b)

To determine

The equivalent units of production for materials and conversion costs.

(c)

To determine

The unit cost of equivalent units.

(d)

To determine

The cost to be assigned to the units transferred out and process for June.

(e)

To determine

To prepare: A production report for the molding department for the month of June.

Expert Solution & Answer

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Answer 3

Question

Chapter 21, Problem 2PSA

(a)

To determine

Process costing: The method of cost accounting which is used to determine cost of that product which passes through various processes.

Equivalent units of Production: Equivalent units of production includes the completed units of direct materials and conversion cost of beginning work in process, units completed and transferred out and ending work in process.

To prepare: A schedule showing physical units of production.

(b)

To determine

The equivalent units of production for materials and conversion costs.

(c)

To determine

The unit cost of equivalent units.

(d)

To determine

The cost to be assigned to the units transferred out and process for June.

(e)

To determine

To prepare: A production report for the molding department for the month of June.

Expert Solution & Answer

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Answer 4

Question

Chapter 21, Problem 2PSA

(a)

To determine

Process costing: The method of cost accounting which is used to determine cost of that product which passes through various processes.

Equivalent units of Production: Equivalent units of production includes the completed units of direct materials and conversion cost of beginning work in process, units completed and transferred out and ending work in process.

To prepare: A schedule showing physical units of production.

(b)

To determine

The equivalent units of production for materials and conversion costs.

(c)

To determine

The unit cost of equivalent units.

(d)

To determine

The cost to be assigned to the units transferred out and process for June.

(e)

To determine

To prepare: A production report for the molding department for the month of June.

Expert Solution & Answer

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Answer 5

Chapter 21, Problem 2PSA

(a)

To determine

Process costing: The method of cost accounting which is used to determine cost of that product which passes through various processes.

Equivalent units of Production: Equivalent units of production includes the completed units of direct materials and conversion cost of beginning work in process, units completed and transferred out and ending work in process.

To prepare: A schedule showing physical units of production.

(b)

To determine

The equivalent units of production for materials and conversion costs.

(c)

To determine

The unit cost of equivalent units.

(d)

To determine

The cost to be assigned to the units transferred out and process for June.

(e)

To determine

To prepare: A production report for the molding department for the month of June.

Answer 6

Chapter 21, Problem 2PSA

(a)

To determine

Process costing: The method of cost accounting which is used to determine cost of that product which passes through various processes.

Equivalent units of Production: Equivalent units of production includes the completed units of direct materials and conversion cost of beginning work in process, units completed and transferred out and ending work in process.

To prepare: A schedule showing physical units of production.

Answer 7

Chapter 21, Problem 2PSA

(a)

To determine

Process costing: The method of cost accounting which is used to determine cost of that product which passes through various processes.

Equivalent units of Production: Equivalent units of production includes the completed units of direct materials and conversion cost of beginning work in process, units completed and transferred out and ending work in process.

To prepare: A schedule showing physical units of production.

Answer 8

(b)

To determine

The equivalent units of production for materials and conversion costs.

Answer 9

(b)

To determine

The equivalent units of production for materials and conversion costs.

Answer 10

(c)

To determine

The unit cost of equivalent units.

Answer 11

(c)

To determine

The unit cost of equivalent units.

Answer 12

(d)

To determine

The cost to be assigned to the units transferred out and process for June.

Answer 13

(d)

To determine

The cost to be assigned to the units transferred out and process for June.

Answer 14

(e)

To determine

To prepare: A production report for the molding department for the month of June.

Answer 15

(e)

To determine

To prepare: A production report for the molding department for the month of June.

Answer 16

Expert Solution & Answer

Answer 17

Expert Solution & Answer

Answer 18

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Answer 19

Ch. 21 - Prob. 1Q Ch. 21 - Prob. 2Q Ch. 21 - Prob. 3Q Ch. 21 - Prob. 4Q Ch. 21 - Prob. 5Q Ch. 21 - Prob. 6Q Ch. 21 - Prob. 7Q Ch. 21 - Prob. 8Q Ch. 21 - Prob. 9Q Ch. 21 - Prob. 10Q

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The equivalent units of production for materials and conversion costs.

The unit cost of equivalent units.

The cost to be assigned to the units transferred out and process for June.

To prepare: A production report for the molding department for the month of June.

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Chapter 21 Solutions