Managerial Accounting: Tools for Business Decision Making
7th Edition
ISBN: 9781118334331
Author: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Publisher: WILEY
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Textbook Question
Chapter 3, Problem 3.9BE
Prepare cost reconciliation schedule. (LO 4), AP
Data for Hollins Company are given in BE3-8. Production records indicate that 18.000 units were transferred out. and 2,000 units in ending work in process were 50% complete as to conversion costs and 100% complete as to materials. Prepare a coal reconciliation schedule.
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(6) Department W had 2,220 units, one-third completed at the beginning of the period. There were 13,900 units transferred to Department X from Department W during the period, and 800 units were one-half completed at the end of the period. Assume the completion ratios apply to both direct materials and conversion costs, and the company uses the FIFO cost flow method.
What is the total number of units to be assigned costs on the cost of production report for Department W?
a.15,320 units
b.13,900 units
c.14,700 units
d.16,120 units
Department W had 2,820 units, one-third completed at the beginning of the period; 12,100 units were transferred to Department X from Department W during the period; and 1,050 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs.
What is the equivalent units of production used to compute unit conversion cost on the cost of production report for Department W? Assume the company uses FIFO.
a.11,685 units
b.11,160 units
c.15,970 units
d.9,280 units
The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.
Assets
Cash and short-term investments
$35,855
Accounts receivable (net)
29,267
Inventory
26,611
Property, plant and equipment
210,452
Total Assets
$302,185
Liabilities and Stockholders' Equity
Current liabilities
$56,968
Long-term liabilities…
Jackson Company has the following information for the current period for the Mixing Department:
Costs of beginning
work-in-process:
Direct materials
Conversion costs
Costs added during the period:
Direct materials
Conversion costs
Equivalent units of production for:
Direct materials
Conversion costs
$15,000
26,000
100,000
150,000
12,600 units
9,100 units
Using the weighted-average method, what is the cost per equivalent unit for conversion costs?
A.$ 3.25
B.$ 9.13
C.$ 19.84
D.S 19.34
Chapter 3 Solutions
Managerial Accounting: Tools for Business Decision Making
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Ch. 3 - Sanchez Co. has zero units of beginning work in...Ch. 3 - Coats Company had zero units of beginning work in...Ch. 3 - Sanchez Co. has zero units of beginning work in...Ch. 3 - Hindi Co. started 3,000 units during the period....Ch. 3 - Clauss Company transfers out 14,000 units and has...Ch. 3 - Prob. 16QCh. 3 - What purposes are served by a production cost...Ch. 3 - As Trent Company, there are 500 units of ending...Ch. 3 - What is the difference between operations costing...Ch. 3 - How does a company decide whether to use a job...Ch. 3 - Soria Co. started and completed 2,000 units for...Ch. 3 - Reyes Company transfers out 12,000 units and has...Ch. 3 - Journalize entries for accumulating costs. (LO 2)....Ch. 3 - Data for Warner Company are given in BE3-1....Ch. 3 - Compute equivalent units of production. (LO 3), AP...Ch. 3 - Compute equivalent units of production. (LO 3), AP...Ch. 3 - Compute unit costs of production.. (LO 4), AP In...Ch. 3 - Assign costs to units transferred out and in...Ch. 3 - Compute unit costs. (LO 4), AP Production costs...Ch. 3 - Prepare cost reconciliation schedule. (LO 4), AP...Ch. 3 - Assign costs to units transferred out and in...Ch. 3 - Assign costs to units transferred out and in...Ch. 3 - Compute unit costs. (LO 5), AP Production costs...Ch. 3 - Indicate whether each of the following statements...Ch. 3 - Kopa Company manufactures CH-21 through two...Ch. 3 - The Assembly Department for Right pens has the...Ch. 3 - In March, Kelly Company had the following unit...Ch. 3 - Robert Wilkins has prepared the following list of...Ch. 3 - Journalize transactions. (LO 2), AP Harrelson...Ch. 3 - The ledger of American Company has the following...Ch. 3 - Journalize transaction for two processes. (LO 2),...Ch. 3 - In Shady Company, materials are entered at the...Ch. 3 - The Cutting Department of Cassel Company has the...Ch. 3 - The Sanding Department of Quik Furniture Company...Ch. 3 - The Blending Department of Luongo Company has the...Ch. 3 - Determine equivalent units, unit costs, and...Ch. 3 - Determine equivalent units, unit costs, and...Ch. 3 - The Polishing Department of Major Company has the...Ch. 3 - Prob. 3.12ECh. 3 - The Welding Department of Healthy Company has the...Ch. 3 - Remington Inc. is contemplating the use of process...Ch. 3 - Santana Mortgage Company uses a process cost...Ch. 3 - Compute equivalent units, unit costs, and costs...Ch. 3 - Determine equivalent units, unit costs, and...Ch. 3 - Compute equivalent units, unit costs, and costs...Ch. 3 - Answer questions on costs and production. (LO 5),...Ch. 3 - The Welding Department of Majestic Company has the...Ch. 3 - Fire Out Company manufactures its product,...Ch. 3 - Complete four steps necessary to prepare a...Ch. 3 - Thakin Industries Inc. manufactures dorm furniture...Ch. 3 - Rivera Company has several processing departments....Ch. 3 - Polk Company manufactures basketballs. Materials...Ch. 3 - Hamilton Processing Company uses a weighted...Ch. 3 - Determine equivalent units and unit costs and...Ch. 3 - CURRENT DESIGNS CDJ Building a kayak using the...Ch. 3 - Decision-Making Across the Organization Florida...Ch. 3 - Harris Furniture Company manufactures living room...Ch. 3 - CRITICAL THINKING Communication Activity Diane...Ch. 3 - Ethics Case R. B. Dillman Company manufactures a...Ch. 3 - In a recent year, an oil refinery Texas City,...
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