ATOZ company's product is manufactured in two departments. Units are inspected at the end oft production process in the first department. Data related to the month of May are: WIP,beg (60% materi 35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% materi 75% labor and 50% FOH), 1,500 units. Cost data follows: WIP,beg P1,260 Cost this Month P36,240 Materials Labor 10,780 21,725 770 FOH 1,400
Q: In the month of April, a department had 500 units in the beginning work in process inventory that…
A: PLEASE LIKE THE ANSWER 1. Since, Material are added at the beginning of the process, we must first…
Q: Kelley paint company uses the weighted average method to aacount for costs of production.…
A: The four steps in assigning cost to units completed and transferred out are (a) Summarize the…
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: Seempleylungs Company operates three producing departments - Cutting, Sewing and Finishing. In…
A: The weighted average method is used to determine the value of cost of units transferred to finishing…
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: ATOZ company's product is manufactured in two departments. Units are inspected at the end of the…
A: 1) Cost per Equivalent unit Using Average Costing: Beginning WIP + Units Started during this period…
Q: Compute for the cost per equivalent unit using average costing. 2. Compute for the equivalent units…
A: The cost per equivalent unit is the term under process costing which records the entire process at…
Q: Skinner Company has a process costing system in which it uses the weighted-average method. The…
A: Units started during the month = Equivalent units for conversion costs - Beginning work in process…
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: 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: Vocid Corporation's production cycle starts in the Mixing Department. The following information is…
A: No. of units completed and transferred = Beginning Work-in-process + Total units started - Ending…
Q: Fuller Corporation uses the weighted-average method in its process costing system. This month, the…
A: Equivalent units of products concept came in to existence when some units are not fully completed at…
Q: Darden Corporation uses the weighted-average method in Its process costing system. The first…
A: Conversion costs includes direct labor cost and overheads cost incurred by manufacturing entity for…
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: Gunes Corporation uses the weighted-average method in its process costing system. This month, the…
A: 1. Statement of Equivalent unit of Production Ending Work in progress unit= O.S+ Units…
Q: Computing EUP, second department The Packaging Department started the month with 600 units in…
A: Equivalent units for Conversion costs = Ending work in process for conversion costs * % of…
Q: ATOZ company's product is manufactured in two departments. Units are inspected at the end of the…
A: Under FIFO, opening WIP is assumed to be completed only for the remaining portion while under…
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: anciful Structures Company uses the weighted-average method in its process costing system. The first…
A: Computation of equivalent units of conversion : Equivalent units of cost = No. of units completed…
Q: What are the equivalent units for conversion costs for the month in the first processing department?
A: Ending inventory units = Beginning inventory + Units started - Units transferred out = 400 + 6800 -…
Q: n February, one of the processing departments at Brandstetter Corporation had beginning work in…
A: Cost of production is the total cost incurred by the producer in producing the goods and services…
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: Lukluk Company uses the FIFO method in its process costing system. The conversion cost for the month…
A: FIFO is first in first out method of process costing in which inventories purchased or produced…
Q: Arsene Ltd manufactures its product in two sequential departments. - On 1 April, Department 2 had…
A: Units completed and transferred from department 1 to 2 are units started for department 2 that is…
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: 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: 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: Seempleylungs Company operates three producing departments – Cutting, Sewing and Finishing. In…
A: The question has been solved as per average cost method, in which the total cost (including that of…
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: Domingo Corporation uses the weighted-average method in its process costing system. This month, the…
A: Equivalent unit: It is the units of output that has been partially completed at the end of…
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: ATOZ company's product is manufactured in two departments. Units are inspected at the end of the…
A: Equivalent unit of production: Units % of materials EUP-Materials % of Labor…
Q: i need help finishing this problem
A: Calculate the number of equivalent units of production for both materials and conversion for the…
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: 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: ATOZ company's product is manufactured in two departments. Units are inspected at the end of the…
A: Under FIFO, number of equivalent units will contain the portion of WIP completed this year. Input…
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…
Step by step
Solved in 2 steps
- 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.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.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.
- The standard cost summary for the most popular product of Phenom Products Co. is shown as follows, together with production and cost data for the period. One gallon each of liquid lead and varnish are added at the start of processing. The balance of the materials is added when the process is two-thirds complete. Labor and overhead are added evenly throughout the process. There were no units in process at the beginning of the month. Required: Calculate equivalent production for materials, labor, and overhead. (Be sure to refer to the standard cost summary to help determine the percentage of materials in ending work in process.) Calculate materials and labor variances and indicate whether they are favorable or unfavorable, using the diagram format shown in Figure 8-4. Determine the cost of materials and labor in the work in process account at the end of the month.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.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?
- 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.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.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.
- 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.)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.