Please do not give solution in image format thanku Flow of unitsUnits to be accounted forBeginning WP inventoryUnits started this periodTotal units to account forUnits accounted forCompleted and transferred outFrom beginning WIP inventoryMixingRefiningStarted and completed currentlyUnits in ending WP inventoryMaxingRefiningTotal units accounted forFlow of costsCosts to be accounted forCosts in beginning WP inventoryCurrent period costsTotal costs to be accounted forCost per equivalent unitMoxingRefiningCosts accounted forCosts assigned to units transferred outCosts from beginning WIP inventoryCurrent costs added to complete beginning WIP inventoryMixingRefiningCurrent costs of units started and completedMoxingRefiningTotal costs transferred outCost of ending WIP inventoryMixingRefiningPhysicalUnits17.50055,30072,800$17,50032,40022,90072,800Total$ 17,500AN$ 17,500 $0$Equivalent UnitsMixingRefiningDepartment DepartmentMixingDepartment0$RefiningDepartment0 Beverly Plastics produces a part used inprecision machining. The part is producedin two departments: Mixing and Refining.The raw material is introduced into theprocess in the Mixing Department. The costof the material fluctuates significantlymonth to month based on marketconditions. Information on costs andoperations in the Refining Department forSeptember follow: WIP inventory-Refining Beginning inventory (17,500 units,10% complete with respect to Refiningcosts) Transferred-in costs (from Mixing) $237,055 Refining conversion costs 9,676Current work (55,300 units started) Mixingcosts $ 898,625 Refining costs 130,140 Theending inventory has 22,900 units, whichare 90 percent complete with respect toRefining Department costs. Required: a.Complete the production cost report usingthe FIFO method. Note: Round "Cost perequivalent unit" to 2 decimal places.

Production costs are the outlays a business incurs when creating a good or offering a service. Prior…

Beverly Plastics produces a part used in precision machining. The part is produced in two departments: Mixing and Refining. The raw material is introduced into the process in the Mixing Department. The cost of the material fluctuates significantly month to month based on market conditions. Information on costs and operations in the Refining Department for September follow: WIP inventory- Refining Beginning inventory (17,500 units, 10% complete with respect to Refining costs) Transferred-in costs (from Mixing) $ 237,055 Refining conversion costs 9,676 Current work (55,300 units started) Mixing costs $ 898,625 Refining costs 130,140 The ending inventory has 22,900 units, which are 90 percent complete with respect to Refining Department costs. Required: a. Complete the production cost report using the FIFO method. Note: Round "Cost per equivalent unit" to 2 decimal places.

Beverly Plastics produces a part used in precision machining. The part is produced in two departments: Mixing and Refining. The raw material is introduced into the process in the Mixing Department. The cost of the material fluctuates significantly month to month based on market conditions. Information on costs and operations in the Refining Department for September follow: WIP inventory- Refining Beginning inventory (17,500 units, 10% complete with respect to Refining costs) Transferred-in costs (from Mixing) $ 237,055 Refining conversion costs 9,676 Current work (55,300 units started) Mixing costs $ 898,625 Refining costs 130,140 The ending inventory has 22,900 units, which are 90 percent complete with respect to Refining Department costs. Required: a. Complete the production cost report using the FIFO method. Note: Round "Cost per equivalent unit" to 2 decimal places.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 17E: K-Briggs Company uses the FIFO method to account for the costs of production. For Crushing, the...

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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.
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.
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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?
Proteger Company manufactures insect repellant lotion. The Mixing Department, the first process department, mixes the chemicals required for the repellant. The following data are for the current year: Direct materials are added at the beginning of the process. Ending inventory is 95 percent complete with respect to direct labor and overhead. The cost of goods transferred out for the year is: a. 4,471,200 b. 3,571,200 c. 3,780,000 d. 3,024,000
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The packaging department began the month with 500 units that were 100% complete with regard to material and 85% complete with regard to conversion. It received 9,500 units from the processing department and ended the month with 750 units that were 100% complete with regard to materials and 30% complete with regard to conversion. With a $5 per unit cost for conversion and a $5 per unit cost for materials, what is the cost of the units transferred out and remaining in ending inventory?
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