A company uses a process costing system to collect costs related to the production of its cherry flavored cola. The cola is first processed in a Mixing Department and is then transferred out and finished up in the Bottling Department. The finished cases of cola are then transferred to Finished Goods Inventory. The following information relates to the company's two departments for the month of February:. Cases of cola in work in process, February 1 Cases of cola completed/transferred out during February Cases of cola in work in process, February 28 Mixing 10,000 65,000 4,000 Bottling 7,000 ? 5,000 How many cases of cola were completed and transferred to Finished Goods Inventory during January?

A company uses a process costing system to collect costs related to the production of its cherry flavored cola. The cola is first processed in a Mixing Department and is then transferred out and finished up in the Bottling Department. The finished cases of cola are then transferred to Finished Goods Inventory. The following information relates to the company's two departments for the month of February:. Cases of cola in work in process, February 1 Cases of cola completed/transferred out during February Cases of cola in work in process, February 28 Mixing 10,000 65,000 4,000 Bottling 7,000 ? 5,000 How many cases of cola were completed and transferred to Finished Goods Inventory during January?

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 9E: A company manufactures a liquid product called Crystal. The basic ingredients are put into process...

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Tomar Company produces vitamin energy drinks. The Mixing Department, the first process department, mixes the ingredients required for the drinks. The following data are for April: Direct materials are added throughout the process. Ending inventory is 60 percent complete with respect to direct labor and overhead. Required: 1. Why would a manager want a production report? 2. Prepare a production report for the Mixing Department for April.
Use the following information for Problems 6-62 and 6-63: Millie Company produces a product that passes through an assembly process and a finishing process. All manufacturing costs are added uniformly for both processes. The following information was obtained for the assembly department for June: a. WIP, June 1, had 24,000 units (60% completed) and the following costs: b. During June, 70,000 units were completed and transferred to the finishing department, and the following costs were added to production: c. On June 30, there were 10,000 partially completed units in process. These units were 70% complete. 6-62 Weighted Average Method, Single-Department Analysis Refer to the information for Millie Company above. Required: Prepare a production report for the assembly department for June using the weighted average method of costing. The report should disclose the physical flow of units, equivalent units, and unit costs and should track the disposition of manufacturing costs.
Use the following information for Problems 6-62 and 6-63: Millie Company produces a product that passes through an assembly process and a finishing process. All manufacturing costs are added uniformly for both processes. The following information was obtained for the assembly department for June: a. WIP, June 1, had 24,000 units (60% completed) and the following costs: b. During June, 70,000 units were completed and transferred to the finishing department, and the following costs were added to production: c. On June 30, there were 10,000 partially completed units in process. These units were 70% complete. 6-63 (Appendix 6A) First-In, First-Out Method; Single-Department Analysis; One Cost Category Refer to the information for Millie Company above. Required: Prepare a production report for the assembly department for June using the FIFO method of costing. The report should disclose the physical flow of units, equivalent units, and unit costs and should track the disposition of manufacturing costs. (Note: Carry the unit cost computation to four decimal places.)
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Problem IV Nicole Company employs a process costing system. A unit of product passes through three departments - Molding, Assembly, and Finishing , before it is completed. The following activity took place in the Finishing Department during May: Work in process, May 1 - 1,400 units; transferred in from the Assembly Department - 14,000; spoilage - 700; completed and transferred to finished goods inventory - 11,200. Direct material is added at the beginning of the processing in the Finishing Department without changing the number of units being processed. Conversion costs are added evenly throughout the process. The work in process inventory was 70% complete as to conversion costs in May 1 and 40% complete as to conversion costs on May 31. All spoilage is discovered at final inspection, which occurs immediately after the units are completed: 560 of the units spoiled were within the limit considered normal. Nicole Company employs the weighted average costing method. The costs per…
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Javis Jam Co. uses process costing for its production processes. In December, the Cooking Department reported the following summary of its activities: Units in process—beginning inventory (3/4 materials; 1/2 labor and factory overhead)... 8,000 Units started in process during the period........................................................................... 15,000 23,000 Units transferred to the next department............................................................................. 19,000 Units still in process (1/2 materials; 1/4 labor and factory overhead)................................... 4,000 23,000 Required: 1. Prepare an equivalent production schedule for materials, labor, and factory overhead in the Cooking Department using fifo costing. 2. Prepare an equivalent production schedule for materials, labor, and factory overhead in the Cooking Department using average costing
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45. Jacobe Company uses the weighted-average method in its process costing system. The Assembly Department started the month with 4,000 units in its beginning work in process inventory that were 20% complete with respect to conversation costs. An additional 62,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 14,000 units in the ending work in process inventory of the Assembly Department that were 30% complete with respect to conversation costs. What were the equivalent units for conversational costs in the Assembly Department for the month?
Insetto Biological Manufacturing produces a pesticide chemical and uses process costing. There are three processing departments—Mixing, Refining, and Packaging. On January 1, the first department—Mixing—had no beginning inventory. During January, 40,000 fl. oz. of chemicals were started in production. Of these, 31,000 fl. oz. were completed and 9,000 fl. oz. remained in process. In the Mixing Department, all direct materials are added at the beginning of the production process, and conversion costs are applied evenly throughout the process. The weighted-average method is used. At the end of the month, Insetto calculated equivalent units. The ending inventory in the Mixing Department was 60% complete with respect to conversion costs. With respect to conversion costs, how many equivalent units were calculated for the product that was completed and for ending inventory? A. Product completed: 40,000 equivalent units; Products in ending inventory: 5,400…
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