1. Information for the month of January concerning Department A, the first stage of AngelesCompany's production cycle, is as follows:MaterialsP 8,00040,000P 48,000100,000P0.48ConversionBWIPCurrent CostsTotal CostsP 6,00032,000P 38,00095,000P 0.40EUP using weighted average methodAverage unit costsGoods completed-90,000 units10,000 units---EWIP ----Materials are added at the beginning of the process. The ending WIP is 50% complete as toconversion costs.a. How would the total costs accounted for be distributed to GOODS COMPLETED, using theweighted average method?b. How woluld the total costs accounted for be distributed to ENDING WIP, using the weightedaverage method?

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Description: 1. Information for the month of January concerning Department A, the first stage of AngelesCompany's production cycle, is as follows:MaterialsP 8,00040,000P 48,000100,000P0.48ConversionBWIPCurrent CostsTotal CostsP 6,00032,000P 38,00095,000P 0.40EUP

Total Cost Accounted for Goods completed = Equivalent Units of Goods Completed x Average Unit Cost…

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1. Information for the month of January concerning Department A, the first stage of Angeles Company's production cycle, is as follows: Materials Conversion P 8,000 40,000 P 48,000 100,000 P0.48 P 6,000 32,000 P 38,000 95,000 P0.40 BWIP Current Costs Total Costs EUP using weighted average method Average unit costs Goods completed -- 90,000 units EWIP -- 10,000 units Materials are added at the beginning of the process. The ending WIP is 50% complete as to conversion costs. a. How would the total costs accounted for be distributed to GOODS COMPLETED, using the weighted average method? b. How would the total costs accounted for be distributed to ENDING WIP, using the weighted average method?

1. Information for the month of January concerning Department A, the first stage of Angeles Company's production cycle, is as follows: Materials Conversion P 8,000 40,000 P 48,000 100,000 P0.48 P 6,000 32,000 P 38,000 95,000 P0.40 BWIP Current Costs Total Costs EUP using weighted average method Average unit costs Goods completed -- 90,000 units EWIP -- 10,000 units Materials are added at the beginning of the process. The ending WIP is 50% complete as to conversion costs. a. How would the total costs accounted for be distributed to GOODS COMPLETED, using the weighted average method? b. How would the total costs accounted for be distributed to ENDING WIP, using the weighted average method?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 4PB: During March, the following costs were charged to the manufacturing department: $22,500 for...

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The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units before ending the month with 3.000 u flits that were 100% complete with regard to materials and 80% complete with regard to conversion costs. The cost per unit of material is $5.45, and the cost per unit for conversion is $6.20 per unit, Using the weighted-average method, prepare the companys process cost summary for the month.
Jones Corporation uses a first-in, first-out (FIFO) process cost system. Jones has the following unit information for the month of August: The equivalent units of production for conversion costs for the month of August were: a. 87,300 units. b. 88,000 units. c. 92,300 units. d. 92,700 units.
The records of Burris Inc. reflect the following data: Work in process, beginning of month2,000 units one-half completed at a cost of 1,250 for materials, 675 for labor, and 950 for overhead. Production costs for the monthmaterials, 99,150; labor, 54,925; factory overhead, 75,050. Units completed and transferred to stock38,500. Work in process, end of month3,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost.
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