19 WIP, June 1, 3,800 pounds Direct materials added during June, 32,000 pounds Conversion costs during June Work in process, June 30, 4,600 pounds, 40% completed. Goods finished during June, 31,200 pounds Inventories are costed by the weighted average method and all materials are added at the beginning of the process. Determine the following, presenting your computations: (a) equivalent units of production (b) cost per equivalent unit (c) total cost of finished goods completed in the current period (transferred) (d) total cost of work in process inventory at June 30 (ending WIP) (a) The inventory at June 1 and costs charged to Work in Process during June are as follows: $ 35,516 244,000 188,000 (b) - (c) (d)

19 WIP, June 1, 3,800 pounds Direct materials added during June, 32,000 pounds Conversion costs during June Work in process, June 30, 4,600 pounds, 40% completed. Goods finished during June, 31,200 pounds Inventories are costed by the weighted average method and all materials are added at the beginning of the process. Determine the following, presenting your computations: (a) equivalent units of production (b) cost per equivalent unit (c) total cost of finished goods completed in the current period (transferred) (d) total cost of work in process inventory at June 30 (ending WIP) (a) The inventory at June 1 and costs charged to Work in Process during June are as follows: $ 35,516 244,000 188,000 (b) - (c) (d)

Name: please give only last subpart 19WIP, June 1, 3,800 poundsDirect materi
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Description: please give only last subpart 19WIP, June 1, 3,800 poundsDirect materials added during June, 32,000 poundsConversion costs during JuneWork in process, June 30, 4,600 pounds, 40% completedGoods finished during June, 31,200 poundsInventories are costed

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products

Section: Chapter Questions

Problem 3P: On December 1, Carmel Valley Production Inc. had a work in process inventory of 1,200 units that...

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SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials. Work in process, January 1 77,000 Materials inventory, January 1 31,000 Materials purchases 35,000 Materials inventory, December 31 26,000 Direct labor 48,000 Overhead 20,000 Work in process, December 31 62,000
SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials. Work in process, January 1 20,500 Materials inventory, January 1 11,000 Materials purchases 12,000 Materials inventory, December 31 13,000 Direct labor 9,500 Overhead 5,500 Work in process, December 31 10,500
Beginning inventory and direct material cost added during the month total $55,000. What is the value of the ending work in process inventory if beginning inventory was 2,000 units; 9,000 units were started; and 1,000 units were in ending inventory? $1,000 $5,000 $50,000 $55,000
Rexar had 1,000 units in beginning inventory before starting 9.500 units and completing 8,000 units. The beginning work in process inventory consisted of $5,000 in materials and $8,500 in conversion costs before $16,000 of materials and $18,500 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 40% complete with regard to conversion costs. Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department.
On December 1, Carmel Valley Production Inc. had a work in process inventory of 1,200 units that were complete as to materials and 50% complete as to labor and overhead. December 1 costs follow: During December the following transactions occurred: a. Purchased materials costing 50,000 on account. b. Placed direct materials costing 49,000 into production. c. Incurred production wages totaling 50,500. d. Incurred overhead costs for December: e. Applied overhead to work in process at a predetermined rate of 125% of direct labor cost. f. Completed and transferred 10,000 units to finished goods. (Hint: You should first compute equivalent units and unit costs. The unit cost should include applied, not actual, factory overhead.) Carmel Valley uses the weighted average cost method. The ending inventory of work in process consisted of 1,000 units that were completed as to materials and 25% complete as to labor and overhead. Required: Prepare the journal entries to record the above December transactions.
A company started the month with 8,329 units in work in process inventory. It started 23,142 unit and had an ending inventory of 9,321. The units were 100% complete to materials and 67% complete with conversion. How many units were transferred out during the period?
Work in process account data for two months; cost of production reports Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in ProcessFilling on April 1 and debits to the account during April were as follows: During April, 800 units in process on April 1 were completed, and of the 7,800 units entering the department, all were completed except 550 units that were 90% completed. Charges to Work in ProcessFilling for May were as follows: During May, the units in process at the beginning of the month were completed, and of the 9,600 units entering the department, all were completed except 300 units that were 35% completed. Instructions 1. Enter the balance as of April 1, in a four-column account for Work in ProcessFilling. Record the debits and the credits in the account for April. Construct a cost of production report, and present computations for determining (A) equivalent units of production for materials and conversion, B) costs per equivalent unit, (C) cost of goods finished, differentiating between units started in the prior period and units started and finished in April, and (d) work in process inventory. 2. Provide the same information for May by recording the May transactions in the four-column work in process account. Construct a cost of production report, and present the May computations (A through D) listed in part (1). 3. Comment on the change in costs per equivalent unit for March through May for direct materials and conversion costs.