A company has 1,400 units in ending work in process that are 20% complete after transferring out 11,000 units. All materials are added at the beginning of the process. If the cost per unit is $4 for materials and $8 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method? Cost of units transferred out $4 Ending work in process inventory $

A company has 1,400 units in ending work in process that are 20% complete after transferring out 11,000 units. All materials are added at the beginning of the process. If the cost per unit is $4 for materials and $8 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method? Cost of units transferred out $4 Ending work in process inventory $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Barney makes a single product in two Departments. The production data for Dept. 2 for Aug 2020 follows: Production Cost Last Month This MonthTransferred in 40,750 222,750Materials 9,500 168,750Conversion 4,850 202,500Quantities In Process beginning (40% done) 10,000Received from Dept. 1 75,000Completed and Transferred 62,500In Process end (60% done) 15,000 31. Under FIFO, what is the cost of goods completed? a. 488,125 b. 535,100 c. 537,500 d. 528,700
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eBook Show Me How Question Content Area Equivalent Units of Conversion Costs The Rolling Department of Kraus Steel Company had 7,943 tons in beginning work in process inventory (20% complete) on October 1. During October, 61,100 tons were completed. The ending work in process inventory on October 31 was 5,499 tons (20% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.fill in the blank 1 units
eBook Show Me How Question Content Area Equivalent Units of Conversion Costs The Rolling Department of Kraus Steel Company had 4,400 tons in beginning work in process inventory (90% complete) on October 1. During October, 44,000 tons were completed. The ending work in process inventory on October 31 was 3,960 tons (30% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.
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INFORMATIONWaterloo Ltd uses two processes to manufacture desks. The following details are applicable to Process 2 forMarch 2022:Details in connection with costs:RIncomplete work (opening): 1 440 000Costs of previous process 1 134 000Direct materials 198 000Conversion costs 108 000Costs incurred during March 2022: 3 096 000Transferred from previous process 2 034 000Direct materials 378 000Conversion costs 684 000 4 536 000 Production detailsUnitsUnits of incomplete work…
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eBook Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 20% complete with regard to conversion costs. Costs to Account for Units to Account for Beginning inventory: materials $5,000 Beginning work in process 3,000 Beginning inventory: conversion 1,100 Units started into production 85,000 Direct material 25,620 Transferred out 83,000 Direct labor 35,000 Applied overhead 12,500 Transferred-in materials 8,100 Transferred-in conversion 10,200 Total costs to account for $97,520 Enter all amounts as positive values. If required round "Cost per unit" answers to two decimal places. Production Report Completed and transferred out fill in the blank 1 Ending work in process fill in the blank 2 Total units to account for fill in the blank 3 Work in process completion percent 100% 20% Material Units…