added at the start of production. Texas started 12,500 units into production and had 4,000 units in process at the start of the period that were 40 percent complete as to conversion costs. If Texas transferred out 11,000 units, how many units were in ending Work in Process Inventory?

added at the start of production. Texas started 12,500 units into production and had 4,000 units in process at the start of the period that were 40 percent complete as to conversion costs. If Texas transferred out 11,000 units, how many units were in ending Work in Process Inventory?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 5EA: A company has 1,500 units in ending work in process that are 30% complete after transferring out...

See similar textbooks

Related questions

Q: A company has 2,000 units in ending work in process that are 40% complete after transferring out…

A: Equivalent units of products concept came in to existence when some units are not fully completed at…

Q: A total of 5,400 units were started and 4,700 units were transferred to the second processing…

A: Equivalent units for conversion costs for the month in the first processing department = No. of…

Q: Chen Corporation, a new company, adds material at the beginning of its production process:…

A: Process costing is used where the product is generated through multiple processes. It is mainly used…

Q: Given the following information Beginning Work in Process Inventory (70% complete as to conversion)…

A: Process Costing is used where there are various processes or operations involved in production. In…

Q: Department M had 2,000 units 40% completed in process at the beginning of June, 12,000 units…

A: Working Notes: 1. Reconciliation of Units (FIFO): Total Units % of…

Q: Amber Company uses a weighted average process costing system. Material is added at the start of…

A: SOLUTION EXPLANATION- BEGINNING WIP IN UNITS 5000 ADD- UNITS START DURING THE PROCESS 14000…

Q: For the Assembly Department, unit materials cost is S8 and unit conversion cost is $12. If there are…

A: Income statement: The income statement is one of the three primary financial statements used to…

Q: Nasiraan company started operations in the current month. During the month, 10,000 units were…

A: Input unit 10000 units Less : Normal loss 1000 units output units…

Q: QWE Corporation has the following information available for March of the current year. Beginning…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…

Q: Coffee Company has the following production data for the month of November, 2020: Work-in-process,…

A: Process costing: It is a type of costing method, where the direct costs are accumulated and indirect…

Q: XYZ Company uses a weighted average process costing system and started 30,000 units this month. XYZ…

A: No. of units completed and transferred = beginning Work in Process Inventory + units started -…

Q: A company has 2,000 units in ending work in process that are 40% complete after transferring out…

A: Process costing is one type of cost accounting method in which the product is produced through…

Q: Listen The following data relate to the Blending Department of Tru-Colour Paint Company for a recent…

A: Equivalent units of production means units that are completed or completely manufactured in the…

Q: A company has 1,400 units in ending work in process that are 20% complete after transferring out…

A: Inventory- he term inventory refers to the raw resources used in creation as well as the commodities…

Q: Acer Corporation. has the following information for June (SEE PICTURE BELOW): All material is added…

A: The equivalent units are calculated on the basis of percentage work completed during the period.

Q: Department M had 2,700 units 58% completed in process at the beginning of June, 11,500 units…

A: In terms of accountancy, inventory can be defined as a form of asset which represents the value of…

Q: Loanstar had 150 units in beginning inventory before starting 1,000 units and completing 900 units.…

A: Working:

Q: The Bottling Department of Lake Michigan Water Company had 3,000 liters in beginning work in process…

A: Process costing is used in that organization where a similar kind of product is produced and goods…

Q: Irfan Inc, instituted a new process in October, during which it started 10,000 units in Department…

Q: Primo Products transferred 15,000 units to one department. An additional 5,000 units were in…

A: Equivalent Units of Production is the physical count of units manufactured in an accounting period…

Q: Given the following information Beginning Work in Process Inventory (70% complete as to conversion)…

A: When weighted average process costing is used , then percentage completion of opening work in…

Q: The Rolling Department of Kraus Steel Company had 8,344 tons in beginning work in process inventory…

A: Units started and completed = 59,600 - 8,344 Units started and completed = 51,256

Q: Fox Corporation. has the following information for August: Beginning Work in Process Inventory (70%…

A: Units transferred means the units that are manufactured and transferred to next process or sent for…

Q: Georgia Pacific completed and transferred 35,000 units of its product to a second department during…

A: Equivalent units is basically a concept in costing, which converts the partially completed output…

Q: On August 1, Jones Corporation's packaging department had Work in Process inventory of 8,000 units…

A: Process Costing is the technique in cost accounting for cost allocation in the manufacturing process…

Q: Given the following information| Beginning Work in Process Inventory (70% complete as to conversion)…

Q: A first-in, first-out (FIFO) process cost system is used to account for the cost of producing a…

A: Given that, Beginning work in progress inventory (100% complete) = 22,000 units Units started in…

Q: Coffee Company has the following production data for the month of November, 2020: Work-in-process,…

A: Process costing: It is a type of costing method, where the direct costs are accumulated and indirect…

Q: Valor Company instituted a new process in October. During this month, 20,000 units were started in…

A: Department A Account Particular Quantity (in units) Amount (in P) Particular Quantity (in…

Q: The Assembly Department of Binary, Inc., a manufacturer of computers, had a beginning inventory of…

A: Inventory of 5,000 units. Assembled 8,000 units The amount of indirect materials is $250,000 and…

Q: Mickey Mouse Company had zero units in its Work in Process Inventory. During the period it completed…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: At the beginning of September, the Ellery Company had P 27,950 (direct materials P7.800, conversion…

A: Solution 1: Ellery Company Department A Computation of Equivalent unit (FIFO) Particulars…

Q: Department M had 2,000 units 60% completed in process at the beginning of June, 12,000 units…

A: First in First out ( FIFO ) method : The units bought / purchased first are sold first is the first…

Q: At the start of June, the polishing department had 15,000 units in beginning inventory. During the…

A: Production cost is the total cost incurred in the production process. Production cost report…

Q: Casa Blanca began operations on January 1 of the current year. The company uses a process costing…

A: equivalent units for conversion cost = units completed + (work in progress unit * % of completion)…

Q: Nasiraan company started operations in the current month. During the month, 10,000 units were…

A: Conversion cost refers to the concept of determining the expenses involved in transforming raw…

Q: A company has 1,400 units in ending work in process that are 20% complete after transferring out…

A: Work-in-progress (WIP) is a term used in manufacturing and supply-chain management to describe…

Q: Exciting Products transferred 18,000 units to one department. An additional 5,000 units were added…

Q: Carter Company uses a weighted average process costing system. Material is added at the start of…

A: Total units = Beginning units + Units started = 4,500 + 13,000 = 17,500

Q: Bramble’s Manufacturing has 6000 units in beginning Work in Process inventory, 15% complete as to…

A: FIFO means first in first out.

Q: A company has 1,900 units in ending work in process that are 30% complete after transferring out…

Q: A company's beginning Work in Process inventory consisted of 20,000 units that were 20% complete…

A: Beginning units 20,000 Add: Units started 90,000 Total units to account for 110,000…

Q: acific Ink had beginning work-in-process inventory of $750,960 on October 1. Of this amount,…

A: The calculation of equivalent units for materials and conversion costs has been made as follows:…

Q: Production data show 35,820 units were transferred out of a stage of production and 6,200 units…

A: Equivalent Units: Equivalent units of production (EUP) is a managerial accounting calculation that…

Q: The Bottling Department of Mountain Springs Water Company had 5,000 liters in beginning work in…

A: Solution: Equivalent units for conversion cost under FIFO method = Beginning WIP Units * % completed…

Q: In October of the same year, Mannequin Fabrics, which started 35,000 units, had initial material…

A: The question is related to Process Costing. The details are given.

Q: Given the following information Beginning Work in Process Inventory (70% complete as to conversion)…

A: Process costing is used where the product is generated through multiple processes. It is mainly used…

Q: The Cutting Department's output during the period consists of 22,000 units completed and transferred…

A: Given : Output during the period consists of 22,000 units completed 4,000 units in ending work in…

Question

Texas Company uses a weighted average process costing system. Material is
added at the start of production. Texas started 12,500 units into production and had
4,000 units in process at the start of the period that were 40 percent complete as
to conversion costs. If Texas transferred out 11,000 units, how many units were in
ending Work in Process Inventory?
8.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1 Introduction

VIEW

Step 2 Solution

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Vexar manufactures nails. Manufacturing is a one-step process where the nails are forged. This is the information related to this years production: Â Ending inventory was 100% complete as to materials and 70% complete as to conversion, and the total materials cost is $115,080 and the total conversion cost is $72,072. Using the weighted-average method, what are the unit costs if the company transferred out 34,000 units? Using the weighted-average method, prepare the companys process cost summary for the month.
Narwhal Swimwear has a beginning work in process inventory of 13,500 units and transferred in 130,000 units before ending the month with 14,000 units that were 100% complete with regard to materials and 30% complete with regard to conversion costs. The cost per unit of material is $5.80 and the cost per unit for conversion is $8.20 per unit. Using the weighted-average method, what is the amount of material and conversion costs assigned to the department for the month?
A company has 1,500 units in ending work in process that are 30% complete after transferring out 10,000 units. All materials are added at the beginning of the process. If the cost per unit is $4 for materials and $7 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method?
During March, the following costs were charged to the manufacturing department: $22,500 for materials; $45,625 for labor; and $50,000 for manufacturing overhead. The records show that 40,000 units were completed and transferred, while 10,000 remained in ending inventory. There were 45,000 equivalent units of material and 42,500 units of conversion costs. Using the weighted-average method, prepare the companys process cost summary for the month.
The Converting Department of Worley Company had 2,400 units in work in process at the beginning of the period, which were 35% complete. During the period, 10,800 units were completed and transferred to the Packing Department. There were 1,900 units in process at the end of the period, which were 60% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs.
The Converting Department of Tender Soft Tissue Company uses the weighted average method and had 1,900 units in work in process that were 60% complete at the beginning of the period. During the period, 15,800 units were completed and transferred to the Packing Department. There were 1,200 units in process that were 30% complete at the end of the period. a. Determine the number of whole units to be accounted for and to be assigned costs for the period. b. Determine the number of equivalent units of production for the period. Assume that direct materials are placed in process during production.
Chavez Concrete Inc. has two production departments. Blending had 1,000 units in process at the beginning of the period, two-fifths complete. During the period 7,800 units were received from Mixing, 8,200 units were transferred to the finished goods storeroom, and 600 units were in process at the end of the period, 1/3 complete. The cost of the beginning work in process was: The costs during the month were: 1. Using the data in E5-15, prepare a cost of production summary for the month ended January 31, 2016. 2. Prepare a journal entry to transfer the cost of the completed units from Blending to the finished goods storeroom.
Mazomanie Farm completed 20,000 units during the quarter and has 2,500 units still in process. The units are 100% complete with regard to materials and 55% complete with regard to conversion costs. What are the equivalent units for materials and conversion?
A company has 100 units in ending work in process that are 40% complete after transferring out 750 Units. If the cost per unit is $5 for materials and $2.50 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method?
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
Wyandotte Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 256,900, direct labor cost was 176,000, and overhead cost was 308,400. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 6.62 is direct materials and 7.71 is overhead. What is the prime cost per unit? Conversion cost per unit?