QuantityScheduleEquivalent UnitsMaterials ConversionQuantity Schedule and Equivalent UnitsUnith te pe accounted forWo in process, beg.Sreel in processs during the periodTotaldeIni arounted forCompleted and transferred outFromaerk in process, begfrem started in process during the periodWork in process, endTotalTe and Unt CostsCostsTotalMaterials ConversionCost to be accounted forWork in process, begAdded this periodTotil cost to be accounted forCoit per equivalent unitCostacrounted forCompleted and transferred out:From work in process inventory beg:Cost to complete:mcaecoFrom stated during the periodWork in proces, end:MaterialsConversion coo costsTotal cost accounted fornded oll ligure/saueeze figure Score:Professor:SectiontoJersionorcise I-SetRQuantity Schedulets to be accounted for:Work in process, August 1 (75% materials.40% conversion cost added last month)120Started this monthTotal units to be accounted for560680ersionCeits accounted for as follows:Transferred to the next process600Work in process, August 31 (50% materials,25% conversion cost added this month)Total units accounted for00-80680Costs in the beginning work in process inventory were:MaterialsP114,000Conversion costCosts added during August were:32,000Materials718,000Conversion cost402,000Required1. Compute the total cost for August.2. Compute the unit cost for August.* Compute the cost of completed goods and transferred out.* Compute the cost of work in process end.E use the table at the backchodule for the first process follows:

cise II-Set R Quantity Schedule s to be accounted for: Work in process, August I (75% materials, 40% conversion cost added last month) 120 Started this month Total units to be accounted for 560 680 s accounted for as follows: Transferred to the next process 600 Work in process, August 31 (50% materials, 25% conversion cost added this month) Total units accounted for 80 680 s in the beginning work in process inventory were: Materials Conversion cost s added during August were: P114,000 32,000 Materials 718,000 Conversion cost 402,000 ired 1. Compute the total cost for August. 2. Compute the unit cost for August. * Compute the cost of completed goods and transferred out. 4. Compute the cost of work in process end. use the table at the back

cise II-Set R Quantity Schedule s to be accounted for: Work in process, August I (75% materials, 40% conversion cost added last month) 120 Started this month Total units to be accounted for 560 680 s accounted for as follows: Transferred to the next process 600 Work in process, August 31 (50% materials, 25% conversion cost added this month) Total units accounted for 80 680 s in the beginning work in process inventory were: Materials Conversion cost s added during August were: P114,000 32,000 Materials 718,000 Conversion cost 402,000 ired 1. Compute the total cost for August. 2. Compute the unit cost for August. * Compute the cost of completed goods and transferred out. 4. Compute the cost of work in process end. use the table at the back

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 6BE: The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus...

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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.
Production information shows these costs and units for the smoothing department in August. All materials are added at the beginning of the period. The ending work in process is 30% complete as to conversion. What is the value of the inventory transferred to finished goods and the value of the WIP inventory at the end of 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.
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
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.
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.
Cost of production report The debits to Work in ProcessRoasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: All direct materials are placed in process at the beginning of production. A. Prepare a cost of production report, presenting the following computations: 1. Direct materials and conversion equivalent units of production for August 2. Direct materials and conversion costs per equivalent unit for August 3. Cost of goods finished during August 4. Cost of work in process at August 31 B. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July).
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?