Managerial Accounting
17th Edition
ISBN: 9781260247787
Author: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Publisher: RENT MCG
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Chapter 4, Problem 5E
EXERCISE 4-5 Cost Reconciliation Report-Weighted-Average Method LO4-5
Maria Am Corporation uses the weighted-average method in its
Required:
Prepare a cost reconciliation report for the Baking Department for June.
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Exercise 4-2 (Algo) Equivalent Units of Production-Weighted-Average Method [LO 4-2]
Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one
department for October:
Units
Equivalent units of production
Work in process, October 1
Work in process, October 31
The department started 391,000 units into production during the month and transferred 406,000 completed units to the next
department.
47,000
32,000
Percent Completed
Conversion
60%
45%
Materials
Materials
Required:
Compute the equivalent units of production for October.
85%
66%
Conversion
Exercise 4-2 (Algo) Equivalent Units of Production-Weighted-Average Method
[LO 4-2]
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are
available for one department for October:
Work in process, October 1
Work in process, October 31
Units
53,000
36,000
Equivalent units of production
Percent Completed
Materials
90%
72%
The department started 389,000 units into production during the month and transferred 406,000
completed units to the next department.
Required:
Compute the equivalent units of production for October.
Materials
Conversion
65%
54%
Conversion
Exercise 4-12 (Algo) Equivalent Units; Assigning Costs; Cost Reconciliation—Weighted-Average Method [LO4-2, LO4-4, LO4-5]
Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Department completed its processing of 26,200 units and transferred them to the next department. The cost of beginning work in process inventory and the costs added during January amounted to $743,862 in total. The ending work in process inventory in January consisted of 3,900 units, which were 60% complete with respect to materials and 40% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows:
Materials
Labor
Overhead
Cost per equivalent unit
$
14.10
$
4.10
$
8.20
Required:
1. Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month.
2. Compute the cost of ending work in process inventory for materials, labor,…
Chapter 4 Solutions
Managerial Accounting
Ch. 4.A - EXERCISE 4A-1 Computation of Equivalent Units of...Ch. 4.A - EXERCISE 4A-2 Cost per Equivalent Unit-FIFO Method...Ch. 4.A - EXERCISE 4A-3 Assigning Costs to Units-FIFO Method...Ch. 4.A - EXERCISE 4A-4 Cost Reconciliation Report-EIFO...Ch. 4.A - EXERCISE 4A-5 Computation of Equivalent Units of...Ch. 4.A - EXERCISE 4A-6 Equivalent Units of Production-FIFO...Ch. 4.A - EXERCISE 4A-7 Equivalent Units of Production and...Ch. 4.A -
EXERCISE 4A-8 Equivalent Units of Production—FIFO...Ch. 4.A - EXERCISE 4A-9 Equivalent Units; Equivalent Units...Ch. 4.A - PROBLEM 4A-10 Equivalent Units of Production;...
Ch. 4.A - Prob. 11PCh. 4.A - Prob. 12CCh. 4.B - Prob. 1ECh. 4.B - EXERCISE 4B-2 Step-Down Method LO4-11 Madison Park...Ch. 4.B - Prob. 3ECh. 4.B - EXERCISE 4B-4 Direct Method LO4-10 Refer to the...Ch. 4.B - PROBLEM 4B-5 Step-Down Method L04-11 Woodbury...Ch. 4.B - Prob. 6CCh. 4 - Prob. 1QCh. 4 - In what ways are job-order and process costing...Ch. 4 - Why is cost accumulation simpler in a process...Ch. 4 - How many Work in Process accounts are maintained...Ch. 4 - Prob. 5QCh. 4 - Prob. 6QCh. 4 - Prob. 7QCh. 4 - Prob. 8QCh. 4 - Prob. 1AECh. 4 - This exercise relates to the Double Diamond Skis’...Ch. 4 - This exercise relates to the Double Diamond Skis’...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Prob. 10F15Ch. 4 - Prob. 11F15Ch. 4 - Prob. 12F15Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 - Prob. 14F15Ch. 4 - Prob. 15F15Ch. 4 - Prob. 1ECh. 4 - Prob. 2ECh. 4 - Prob. 3ECh. 4 - EXERCISE 4-4 Assigning Costs to...Ch. 4 - EXERCISE 4-5 Cost Reconciliation...Ch. 4 - Prob. 6ECh. 4 - Prob. 7ECh. 4 - Prob. 8ECh. 4 -
EXERCISE 4-9 Equivalent Units and Cost per...Ch. 4 - Prob. 10ECh. 4 - Prob. 11ECh. 4 - Prob. 12ECh. 4 - Prob. 13PCh. 4 - Prob. 14PCh. 4 - Prob. 15PCh. 4 - PROBLEM 4-16 Comprehensive...Ch. 4 - Prob. 17PCh. 4 - Prob. 18PCh. 4 - Prob. 19CCh. 4 - (
CASE 4-20 Ethics and the Manager, Understanding...
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- Exercise 4-1 (Algo) Process Costing Journal Entries [LO 4-1] Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's operations in March follows: a. Raw materials used in production: Molding Department, $27,600; and Firing Department, $4,100. b. Direct labor costs incurred: Molding Department, $19,600; and Firing Department, $4,200. c. Manufacturing overhead was applied: Molding Department, $23,900; and Firing Department, $36,600. d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. According to the company's process costing system, the cost of the unfired, molded bricks was $67,700. e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. According to the company's process costing system, the cost of the finished bricks was $108,000. f. Finished bricks were sold to customers. According to the company's process costing system, the cost…arrow_forwardExercise 4-1 (Algo) Process Costing Journal Entries [LO 4-1] Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's operations in March follows: a. Raw materials used in production: Molding Department, $28,800; and Firing Department, $4,700. b. Direct labor costs: Molding Department, $16,300; and Firing Department, $5,400. c. Manufacturing overhead was applied: Molding Department, $23,000; and Firing Department, $39,700. d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. The cost of the unfired, molded bricks was $65,500. e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. The cost of the finished bricks was $109,800. f. Finished bricks were sold to customers. The cost of the finished bricks sold was $105,300. Required: Prepare journal entries to record items (a) through (f) above. Note: If no entry is required for a…arrow_forwardExercise 4-2 (Algo) Equivalent Units of Production—Weighted-Average Method [LO 4-2] Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 46,000 90 % 55 % Work in process, October 31 31,000 70 % 47 % The department started 395,000 units into production during the month and transferred 410,000 completed units to the next department. Required: Compute the equivalent units of production for October. Equivalent units of production: Materials: Conversion:arrow_forward
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