ATOZ company's product is manufactured in two departments. Units are inspected at the end of the production process in the first department. Data related to the month of May are: WIP,beg (60% materials, 35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% materials, 75% labor and 50% FOH), 1,500 units. Cost data follows: WIP.beg P1,260 Cost this Month P36,240 10,780 Materials Labor 770 FOH 1,400 21,725
Q: he Alecks Company manufactures one product that passes through. three epartments in a continuous…
A: The total production cost is calculated as sum of direct materials, direct labor cost and factory…
Q: 1. Calculate the equivalent units of production for the forming department. 2. Calculate the costs…
A: Given that: Beginning work in process inventory = 37000 units Units started = 540000 units Units in…
Q: Fields Company has two manufacturing departments, Forming and Painting. The company uses the…
A: 1. Calculate the equivalent units of production for the Forming department.
Q: Middelton Company manufactures a product that passes through two processes: Fabrication and…
A: Given, Beginning WIP = 125,000 units Ending WIP = 25,000 units Started in process = 175,000 units
Q: Georgia Corporation uses the weighted-average method in its process costing system. This month, the…
A: Process costing is used where the product is generated through multiple processes. It is mainly used…
Q: NUBD Company uses the weighted-average method in its process costing system. The first processing…
A: Cost per equivalent unit for conversion costs is the total conversion costs by the equivalent units…
Q: Hatch Company produces a product that passes through three processes: Fabrication, Assembly, and…
A:
Q: The Standard manufacturing corporation uses a standard cost system in accounting for the cost of its…
A: Efficiency means how skilled someone is or how efficient they are in working. So variable efficiency…
Q: Company uses the FIFO method in its process costing system. The MIxing Department started the month…
A: Process costing is a method used for collecting and assigning production costs to the units…
Q: The Fields Company has two manufacturing departments, forming and painting. The company uses the…
A: Please find the answers to the above questions below:
Q: Fast Co. produces its product through two processing departments: Cutting and Assembly. Direct…
A: Definition: Process cost summary: Process cost summary is prepared separately for each production…
Q: Fields Company has two manufacturing departments, forming and painting. The company uses the…
A:
Q: The Smelting Department of Kiner Company has the following production data for November.…
A: Raw material inventory: The inventory which is purchased from the supplier for the purpose of using…
Q: Vista Vacuum Company has the following production information for the month of March. All materials…
A: Equivalents units are calculated by multiplying the number of units on hand with the percentage…
Q: Gunes Corporation uses the weighted-average method in its process costing system. This month, the…
A: As per the weighted average method, equivalent units are calculated based on two aspects: units…
Q: BOGO Inc. has two sequential processing departments, Roasting and Mixing. At the beginning of the…
A: Initially calculate equivalent unit based on FIFO method Then onward Calculate cost P.U.
Q: cost of the units transferred
A: Factory overhead 75% * Direct labor Direct labor P85,600 Substitute the values in the formula.…
Q: The Smelting Department of Crane Company has the following production data for November. Production:…
A: Given, Units completed and tranferred out = 9,500 units Ending work in process = 7,700 units
Q: Domingo Corporation uses the weighted-average method in its process costing system. This month, the…
A: Ending inventory in units = Beginning inventory + Units started - Units transferred Ending inventory…
Q: Detroit Corporation uses the weighted-average method in its process costing system. This month, the…
A: Units in beginning work in process 600 units Add: Units started 5700 units Less: Units…
Q: Blue Devil Corp. is a manufacturer of plastic bottles. The company uses a process costing system and…
A: Solution: Introduction: Process Costing is a determination of cost for each process. It is mainly…
Q: Blue Devil Corp. is a manufacturer of plastic bottles. The company uses a process costing system and…
A: Manufacturing overhead = $23,120*25% Manufacturing overhead = $5,780 Conversion added during the…
Q: Darden Corporation uses the weighted-average method in its process costing system. The first…
A: Darden Corporation: Unit transferred out = Beginning WIP + Unis Started - Ending WIP Unit…
Q: Zay Corporation manufactures a product in two departments, Cutting and Assembly. During February,…
A: Zay Corporation Production Report For the month of February Particulars Equivalents Units…
Q: Kelley paint company uses the weighted average method to account for costs of production. Kelley…
A: Introduction: Process costing is a method for assigning costs of manufacturing to the units…
Q: The Kirkland Department of Culver Company began the month of December with work in process inventory…
A: It is assumed that weighted average method is used to calculate equivalent unit production. Under…
Q: Kool Inc. uses a weighted-average process costing system and has one production department. All…
A: Number of units started during May = Completed units + May 31 Inventory – May 1 Inventory Number of…
Q: Gunes Corporation uses the weighted-average method in its process costing system. This month, the…
A: Equivalent units means how much completed units are done in a particular period. Conversion costs…
Q: Narwhal Swimwear has a beginning work in process inventory of 14,000 units and transferred in…
A: Beginning work in process 14,000 Transferred in 110,000 Units to account for 124,000…
Q: The Fields Company has two manufacturing departments, forming and painting. The company uses the…
A: Calculate units completed during the period:
Q: Peach Company uses a weighted-average process-costing system. Company records disclosed that the…
A: As per the inventory equation Opening Inventory +Additions during the month= Finished goods…
Q: Hache Corporation uses the weighted-average method in its process costing system. The first…
A: Equivalent units of production is computed when there are some semi-completed inventory at beginning…
Q: Georgia Corporation uses the weighted-average method in its process costing system. This month, the…
A: First, compute the units in ending work in process as shown below: Units in ending work in process =…
Q: Tsuzuki Corporation had beginning work in process inventory of $24,000 and ending work in process…
A: It is a portion of a production report that specifies what expenses a department must account for…
Q: Eastern Corporation uses the weighted-average method in its process costing system. This month, the…
A: Units in beginning work in process 600 Add: Units started 5700 Less: Units transferred…
Q: Superior Micro Products uses the weighted-average method in its process costing system. During…
A: The equivalent in units are computed on the basis of percentage work completed during the period.
Q: Esty Corporation uses the weighted-average method in its process costing system. This month, the…
A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…
Q: Annenbaum Corporation uses the weighted-average method in its process costing system. This month,…
A: Under the weighted average system, opening work in process is assumed to be wholly completed in this…
Q: Domingo Corporation uses the weighted-average method in its process costing system. This month, the…
A: Ending work in process inventory means how many units are left in the process at the end of…
Q: In the month of April, a department had 500 units in the beginning work in process inventory that…
A: Given : Department had 500 units in the beginning work in process inventory that were 60% complete…
Q: i need help finishing this problem
A: Calculate the number of equivalent units of production for both materials and conversion for the…
Q: Superior Micro Products uses the weighted-average method in its process costing system. During…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Winkle Company uses the FIFO method in its process costing system. At the beginning of March, the…
A: Equivalent units of products concept came in to existence when some units are not fully completed at…
Q: Superior Micro Products uses the weighted-average method in its process costing system. During…
A: The question is based on the concept of Cost Accounting. As per the Bartleby guidelines we are…
Q: Tript Corporation has a process costing system and uses the weighted-average method. The company had…
A: Equivalent units: These include all the units that are partially completed at the closing of the…
Q: The Fields Company has two manufacturing departments, forming and painting. The company uses the…
A: Requirements are solved in the following table:
Q: Bistrol Corporation uses the weighted-average method in its process costing system. This month, the…
A:
Q: Fields Company has two manufacturing departments, Forming and Painting. The company uses the…
A: Equivalent units of production is used with a view to determine the portion of work done for the the…
Q: Vista Vacuum Company has the following production information for the month of March. All materials…
A: Compute the costs to be assigned to the units transferred out and the units still in process:Direct…
Compute for the total cost transfered to the next department using average costing.
Step by step
Solved in 3 steps with 1 images
- 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?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.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.
- 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.Using the same data found in Exercise 6.22, assume the company uses the FIFO method. Required: Prepare a schedule of equivalent units, and compute the unit cost for the month of December. Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was 40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments. The second department (Polishing) had the following physical flow schedule for December: Costs in beginning work in process for the Polishing Department were direct materials, 5,000; conversion costs, 6,000; and transferred in, 8,000. Costs added during the month: direct materials, 32,000; conversion costs, 50,000; and transferred in, 40,000.During December, Krause Chemical Company had the following selected data concerning the manufacture of Xyzine, an industrial cleaner: All materials are added at the beginning of processing in this department, and conversion costs are added uniformly during the process. The beginning work in process inventory had 120 of raw materials and 180 of conversion costs incurred. Materials added during December were 540, and conversion costs of 1,484 were incurred. Krause uses the first-in, first-out (FIFO) process cost method. The equivalent units of production used to compute conversion costs for December were: a. 110 units. b. 104 units. c. 100 units. d. 92 units.
- Holmes Products, Inc., produces plastic cases used for video cameras. The product passes through three departments. For April, the following equivalent units schedule was prepared for the first department: Costs assigned to beginning work in process: direct materials, 90,000; conversion costs, 33,750. Manufacturing costs incurred during April: direct materials, 75,000; conversion costs, 220,000. Holmes uses the weighted average method. Required: 1. Compute the unit cost for April. 2. Determine the cost of ending work in process and the cost of goods transferred out.Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was 40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments. The second department (Polishing) had the following physical flow schedule for December: Costs in beginning work in process for the Polishing Department were direct materials, 5,000; conversion costs, 6,000; and transferred in, 8,000. Costs added during the month: direct materials, 32,000; conversion costs, 50,000; and transferred in, 40,000. Required: 1. Assuming the use of the weighted average method, prepare a schedule of equivalent units. 2. Compute the unit cost for the month.Petrini Products Co. has two departments: Mixing and Cooking. At the beginning of the month, Cooking had 4,000 units in process with costs of 8,600 from Mixing, and its own departmental costs of 500 for materials, 1,000 for labor, and 2,500 for factory overhead. During the month, 10,000 units were received from Mixing with a cost of 25,000. Cooking incurred costs of 4,250 for materials, 8,500 for labor, and 21,250 for factory overhead, and finished 12,000 units. At the end of the month, there were 2,000 units in process, one-half completed. Required: 1. Determine the unit cost for the month in Cooking. 2. Determine the adjusted weighted average unit cost for all units received from Mixing. 3. Determine the unit cost of goods finished. 4. Determine the accumulated cost of the goods finished and of the ending work in process. (Round unit costs to three decimal places.)
- Clearwater Candy Co. had a cost per equivalent pound for the month of 4.56 for materials, 1.75 for labor, and 1.00 for overhead. During the month, 10,250 lb were completed and transferred to finished goods. The 3,200 lb in ending work in process were 100% complete as to materials and 60% complete as to labor and overhead. At the beginning of the month, 1,500 lb were in process, 100% complete as to materials and 50% complete as to labor and overhead. The beginning inventory had a cost of 8,775. Clearwater uses FIFO costing. Required: 1. Calculate the cost of the pounds completed and transferred to finished goods. 2. Calculate the cost of the ending work in process.Kraus Steel Company has two departments, Casting and Rolling. In the Rolling Department, ingots From the Casting Department are rolled into steel sheet. The Rolling Department received 4,000 tons from the Casting Department in October. During October, the Rolling Department completed 3,900 tons, including 200 tons of work in process on October 1. The ending work in process inventory on October 31 was 300 tons. How many tons were started and completed during October?Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September: a. All materials are added at the beginning of the process. b. Beginning work in process had 80,000 units, 30 percent complete with respect to conversion costs. c. Ending work in process had 17,000 units, 25 percent complete with respect to conversion costs. d. Started in process, 95,000 units. Required: 1. Prepare a physical flow schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method.