Muskoge 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 February: Molding Assembly Beginning inventories: Physical units 10,000 8,000 Costs: Transferred in $ 45,400 Direct materials $22,000 | Conversion costs $13,800 S 16,700 Current production: Units started 25,000 ? Units transferred out 30,000 35,000 Costs: Transferred in ? | Direct materials $ 56,250 $ 40,250 Conversion costs $103,500 $142,845 Percentage of completion: Beginning inventory 40% 55% Ending inventory 80 50

A company manufactures two product types: Product A and Product B. The company uses an activity-based costing (ABC) system that allocates all of its overhead to three cost pools. The activity rates for the three cost pools are in the table below: Activity Cost rate $20/MH Activity Cost Pool Machining Factory Setups Product Design type The following Table is information for Product A: Product Type Machine Hours Number of setups Number of units Direct Labor Hours $100/setup $6,000 per product Direct Material Costs Direct Labor Costs Overhead Costs: Machining Factory Setups Product Design Total Product Costs Product A 3,000 MHs 230 setups Direct Material Cost Labor wage rate $25/DLH Calculate the total product cost assigned to Product A if Activity Based Costing is used. Use the Table below as guide: Product A Total Product Costs ($) ? 10,000 units 7,000 DLH $8.00/unit ? ? ? ? ?

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.

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 FIFO method, prepare the following for the assembly 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 assembly department.

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…

Zia Company makes flowerpots from recycled plastic in two departments, Molding and Packaging. Zia uses the weighted average method, and units completed in the Molding department are transferred to the Packaging department. Production unit Information for the Molding department follows. Molding-Direct Materials Beginning work in process inventory Units started this period Ending work in process inventory Production cost Information for the Molding department for the same period follows. Units Beginning work in process inventory (direct materials) Direct materials added this period 3,900 27,500 3,000 (b) Equivalent units of production (c) Cost per equivalent unit of production Percent Complete 70% QS 16-18 (Algo) Weighted average: Computing equivalent units and cost per EUP (direct materials) LO P1 80% Compute the Molding department's (a) units completed and transferred out, (b) equivalent units of production for direct materials, and c) cost per equivalent unit of production for direct…

Lens Care Inc. (LCI) manufactures specialized equipment for polishing optical lenses. There are two models - one mainly used for fine eyewear (F-32) and another for lenses used in binoculars, cameras, and similar equipment (B-13).The manufacturing cost of each unit is calculated using activity-based costing, using the following manufacturing cost pools:   Cost Pools Allocation Base Costing Rate Materials handling Number of parts $ 3.00 per part Manufacturing supervision Hours of machine time $ 14.86 per hour Assembly Number of parts $ 3.60 per part Machine setup Each setup $ 56.80 per setup Inspection and testing Logged hours $ 45.80 per hour Packaging Logged hours $ 19.80 per hour     LCI currently sells the B-13 model for $3,125 and the F-32 model for $2,900. Manufacturing costs and activity usage for the two products are as follows:     B-13   F-32 Direct materials $ 164.80     $ 75.84   Number of parts   166       126   Machine hours   8.20       4.26…

Lens Care Inc. (LCI) manufactures specialized equipment for polishing optical lenses. There are two models - one mainly used for fine eyewear (F-32) and another for lenses used in binoculars, cameras, and similar equipment (B-13).The manufacturing cost of each unit is calculated using activity-based costing, using the following manufacturing cost pools:   Cost Pools Allocation Base Costing Rate Materials handling Number of parts $ 3.20 per part Manufacturing supervision Hours of machine time $ 14.88 per hour Assembly Number of parts $ 3.70 per part Machine setup Each setup $ 56.90 per setup Inspection and testing Logged hours $ 45.90 per hour Packaging Logged hours $ 19.90 per hour     LCI currently sells the B-13 model for $3,575 and the F-32 model for $3,460. Manufacturing costs and activity usage for the two products are as follows:     B-13   F-32 Direct materials $ 164.90     $ 75.92   Number of parts   168       128   Machine hours   8.30       4.28…

Muskoge Company uses a process-costing system. The company manufactures a product that isprocessed in two departments: Molding and Assembly. In the Molding Department, directmaterials are added at the beginning of the process; in the Assembly Department, additionaldirect materials are added at the end of the process. In both departments, conversion costs areincurred uniformly throughout the process. As work is completed, it is transferred out. Thefollowing table summarizes the production activity and costs for February: Molding AssemblyBeginning inventories: Physical units 10,000 8,000 Costs: Transferred in — $ 45,400 Direct materials $22,000 — Conversion costs $13,800 $ 16,700Current production: Units started 25,000 ? Units transferred out 30,000 35,000 Costs: Transferred in — ? Direct materials $ 56,250 $ 40,250 Conversion costs $103,500 $142,845 Percentage of completion: Beginning inventory 40% 55% Ending inventory 80 50Required:3. Using the FIFO method, prepare the following for…