Under Weighted Average Method, the EUP, Finished and Transferred was how many units?Under Weighted Average Method, the EUP for the Work in Process End was how many units?Under Weighted Average Method, the EUP, what was the total unit cost? Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation lossof 10%. The following data were obtained for the month of October, 2019Units:In process, October 1 (2/5 completed) 9,600 gallons| 30,000 gallons| 25,200 gallonsReceived from Department AFinished and transferredIn process, October 31 (1/4 complete) 11,700 gallonsCosts:In process beginningReceived from Department A5,76030,000Current costsMaterials19,440Labor7,290Overhead2,430

SOLUTION- WORKING - QUANTITY SCHEDULE ACTUAL UNITS NET OF EVAPORATION % OF COMPLETION (WORK…

Answered: Consider the following data. Department…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019:                Units:                               In process, October 1 (2/5 completed)         9,600 gallons                               Received from Department A                         30,000 gallons                               Finished and transferred                                  25,200 gallons                               In process, October 31 (1/4 complete)           11,700 gallons                Costs:                               In process beginning                                        P5,760                               Received from Department A                         30,000                               Current costs                                            Materials                                            19,440                                              Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019:                Units:                               In process, October 1 (2/5 completed)         9,600 gallons                               Received from Department A                         30,000 gallons                               Finished and transferred                                  25,200 gallons                               In process, October 31 (1/4 complete)           11,700 gallons                Costs:                               In process beginning                                        P5,760                               Received from Department A                         30,000                               Current costs                                            Materials                                            19,440                                              Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019:                Units:                               In process, October 1 (2/5 completed)         9,600 gallons                               Received from Department A                         30,000 gallons                               Finished and transferred                                  25,200 gallons                               In process, October 31 (1/4 complete)           11,700 gallons                Costs:                               In process beginning                                        P5,760                               Received from Department A                         30,000                               Current costs                                            Materials                                            19,440                                              Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed)         9,600 gallons Received from Department A                         30,000 gallons Finished and transferred                                  25,200 gallons In process, October 31 (1/4 complete)           11,700 gallons Costs: In process beginning                                        P5,760 Received from Department A                         30,000 Current costs Materials                                            19,440 Labor                                                  7,290 Overhead                                           2,430 Required: a) Under FIFO, how much is the unit cost? b) Under FIFO, how much is the cost of the work in process at the beginning? c) Under FIFO, how much is the cost of the completed units( finished and transferred…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed)         9,600 gallons Received from Department A                         30,000 gallons Finished and transferred                                  25,200 gallons In process, October 31 (1/4 complete)           11,700 gallons                Costs: In process beginning                                        P5,760 Received from Department A                         30,000 Current costs Materials                                            19,440 Labor                                                  7,290 Overhead                                           2,430 Required: a) Under Weighted Average Method, what was the total unit cost? b) Under Weighted Average Method, how much was the cost of the Finished and Transferred out units? c) Under Weighted Average…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019:                Units:                               In process, October 1 (2/5 completed)         9,600 gallons                               Received from Department A                         30,000 gallons                               Finished and transferred                                  25,200 gallons                               In process, October 31 (1/4 complete)           11,700 gallons                Costs:                               In process beginning                                        P5,760                               Received from Department A                         30,000                               Current costs                                            Materials                                            19,440                                              Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed)         9,600 gallons Received from Department A                         30,000 gallons Finished and transferred                                  25,200 gallons In process, October 31 (1/4 complete)           11,700 gallons Costs: In process beginning                                        P5,760 Received from Department A                         30,000 Current costs Materials                                            19,440 Labor                                                  7,290 Overhead                                           2,430 Required: a) Under FIFO, how much is the cost of the work in process at the end? b) Under Weighted Average Method, the EUP, Finished and Transferred was how many units? c) Under Weighted Average Method, the EUP…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019:                Units:                               In process, October 1 (2/5 completed)         9,600 gallons                               Received from Department A                         30,000 gallons                               Finished and transferred                                  25,200 gallons                               In process, October 31 (1/4 complete)           11,700 gallons                Costs:                               In process beginning                                        P5,760                               Received from Department A                         30,000                               Current costs                                            Materials                                            19,440                                              Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed)         9,600 gallons Received from Department A                         30,000 gallons Finished and transferred                                  25,200 gallons In process, October 31 (1/4 complete)           11,700 gallons Costs: In process beginning                                        P5,760 Received from Department A                         30,000 Current costs Materials                                            19,440 Labor                                                  7,290 Overhead                                           2,430 Required: 1. Under FIFO method, what was the actual units of the Work in Process Beginning Inventory? 2. Under FIFO method, what was the actual units of the Work in Process Inventory at the End? 3. Under FIFO,…
In June of the current year, Department 2 (last department) received 80,000 units from Department 1. At the end of the month, it completed 84,000 units, including 16,000 units in the beginning that are 60% converted and reported that 8,000 units are 50% converted. Based on company’s experience, normal spoilage is anticipated to be 2% of units that reached the inspection point. The cost of abnormal spoilage, if any, is charged to period cost. Materials are added at the start of the process in Department 1 while packaging materials are added at the end of the process in Department 2. Inspection is done at the end of the process. The following unit cost per EUP is available:The cost of goods manufactured for the period is: A. 778,000 B. 919,200 C. 925,080 D. 925,760
In June of the current year, Department 2 (last department) received 80,000 units from Department 1. At the end of the month, it completed 84,000 units, including 16,000 units in the beginning that are 60% converted and reported that 8,000 units are 50% converted. Based on company’s experience, normal spoilage is anticipated to be 2% of units that reached the inspection point. The cost of abnormal spoilage, if any, is charged to period cost. Materials are added at the start of the process in Department 1 while packaging materials are added at the end of the process in Department 2. Inspection is done at the end of the process. The following unit cost per EUP is available:The cost of goods manufactured for the period is:

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS