How to compute the In Process beginning? Case 6:In Process, Beg? units, 30% done120,000 unitsPlaced in ProcessTransferred Out130,000 units10,000 unitsFinished and on HandIn Process, End? units, 25%incompleteNote: In process end is equal to 75% of that inbeginning work in process

Name: How to compute the In Process beginning? Case 6:In Process, Beg? units
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Description: How to compute the In Process beginning? Case 6:In Process, Beg? units, 30% done120,000 unitsPlaced in ProcessTransferred Out130,000 units10,000 unitsFinished and on HandIn Process, End? units, 25%incompleteNote: In process end is equal to 75% of tha

In financial management inventory indicates the goods possessed by the entity for utilizing for…

Business

Accounting

Case 6: In Process, Beg ? units, 30% done 120,000 units 130,000 units 10,000 units ? units, 25% incomplete Note: In process end is equal to 75% of that in Placed in Process Transferred Out Finished and on Hand In Process, End beginning work in process

Case 6: In Process, Beg ? units, 30% done 120,000 units 130,000 units 10,000 units ? units, 25% incomplete Note: In process end is equal to 75% of that in Placed in Process Transferred Out Finished and on Hand In Process, End beginning work in process

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...

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Production run size and activity improvement Littlejohn, Inc. manufactures machined parts for the automotive industry. The activity cost associated with Part XX-10 is as follows: Activity Activity-Base Usage Activity Rate = Activity Cost Fabrication 250 dlh 80per dlh 20,000 Setup 10 setups 80 per setup 800 Production control 10 prod, runs 30 per prod, run 300 Moving 10 moves 25 per move 250 Total activity cost per unit 21,350 Estimated units of production 500 Activity cost per unit 42.70 Each unit requires 30 minutes of fabrication direct labor. Moreover, part XX-10 is manufactured in production run sizes of 50 units. Each production run is set up, scheduled (production control), and moved as a batch of 50 units. Management is considering improvements in the setup, production control, and moving activities in order to cut the production run sizes by half. As a result, the number of setups, production runs, and mows will double from 10 to 20. Such improvements are expected to speed the companys ability to respond to customer orders. Setup is reengineered so that it takes 60% of the original cost per setup. Production control software will allow production control effort and cost per production run to decline by 60%. Moving distance was reduced by 40%, thus reducing the cost per mow by the same amount. A. Determine the revised activity cost per unit under the proposed changes. B. Did these improvements reduce the activity cost per unit? C. What cost per unit for setup would be required for the solution in (A) to equal the base solution?
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?
Entries for process cost system Pori Ormond Carpel Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tufting Department, where carpel hacking is added al the beginning of the process and the process is completed. On January 1, Port Ormond Carpet Company had the following inventories: Finished Goods 62,000 Work in ProcessSpinning Department 35,000 Work in ProcessTufting Department 28,500 Materials 17,000 Departmental accounts are maintained for factory overhead, and both have zero balances on January 1. Manufacturing operations for January are summarized as follows: a Materials purchased on account 500,000 b Materials requisitioned for use FiberSpinning Department 275,000 Carpet backingTufting Department 110,000 Indirect materialsSpinning Department 46,000 Indirect materialsTufting Department 39,500 c. Labor used Direct laborSpinning Department 185,000 Direct laborTufting Department 98,000 Indirect laborSpanning Department 18,500 Indirect laborTufting Department 9,000 d Depreciation charged on fixed assets: Spinning Department 12,500 Tufting Department 8,500 e. Expired prepaid factory insurance: Spinning Department 2,000 Tufting Department 1,000 f. Applied factory overhead Spinning Department 80,000 Tufting Department 55,000 g Production costs transferred from Spinning Department to Tufting Department 547,000 h Production costs transferred from Tufting Department to Finished Goods 807,200 i. Cost of goods sold during the period 795,200 Instructions 1. Journalize the entries to record the operations, identifying each entry by letter. 2. Compute the January 31 balances of the inventory accounts. 3. Compute the January 31 balances of the factory overhead accounts.
(Appendix 6A) First-In, First-Out Method Refer to Problem 6-67. Required: Prepare a production report for the mixing and encapsulating departments using the FIFO method. (Note: Round the unit cost to four decimal places.) (Hint: For the second department, you must convert gallons to capsules.)
6. Production department records show the following: beginning work in process of 25,000 units (100% material, 30% conversion): 80,000 units started; and ending work in process of 12,000 units (100% material, 40% conversion). The company uses the FIFO method. The total equivalent units of production for the period are: A .105,000 units material, 97,800 units conversion B. 25,000 in process, beginning, and 93,000 units transferred ou C. answer not given D. 80,000 units material, 90,300 units conversion E. 93,000 units material, 90,300 units conversion
5. Using the following terms, prepare the worksheet to show the calculation to answer the question: Units completed and transferred out Cost per material Cost per conversion Equivalent units conversion Cost of units transferred out Units started and completed in production Total units to account for Total ending work in process Ending work in process materials Ending work in process conversion Cost per unit conversion Costs to account for Question: 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 $7 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method? PLEASE NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). Terms Dollars ? ? Ending work in process: x ? ? ? ? ? ?
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Please show your computations using good accounting form through excel. Thank you! Problem: Normal Loss Materials are added at the start of the process in Department B. Units received from Department A cost P11.10 and in Department B, unit costs are P1 for materials and P1.22 for conversion cost. Quantity Data include: In process, July 1 at 8,000 units, 3/4 done; Received from Dept. A is 50,000 units; In process, July 31 is 10,000 units, 1/5 done. Normal loss at the end is 3,000 units. Estimated recovery from spoiled units is P3,000. What should be the accumulated cost of the July 31 work in process?
A process manufacturer reports the following: Units Conversion Percent Complete Beginning work in process inventory 186,000 80% Units started this period 400,000 Units completed and transferred out 430,000 Ending work in process inventory 156,000 35% (a) Compute the number of units started and completed this period. (b) Compute the total equivalent units of production for conversion. The company uses the FIFO method.
Compute the Equivalent units of production (EUP):Units received from preceding department 25,000 unitsUnits completed and transferred 14,000 unitsUnits in process, end (30% incomplete) 11,000 unitsCompute the equivalent production for conversion if 40% of materials are added at the beginning and the remaining 60% are added 75% completed
Assume the following information: Milling Department Units Percent Complete Materials Conversion Beginning work in process inventory 200 40% 30% Units started into production during March 6,200 Units completed during the period and transferred to the next department 5,800 100% 100% Ending work in process inventory 600 70% 60% Milling Department Materials Conversion Cost of beginning work in process inventory $ 10,000 $ 15,000 Costs added during the period 284,000 385,000 Total cost $ 294,000 $ 400,000 Using the weighted-average method, the cost per equivalent unit for materials is closest to