Upload Assignment: Module 4 Ex* CengageNOwv2 | Online teachin xun/takeAssignment/takeAssignmentMain.do?invoker =&takeAssignmentSessionLocator &inprogress-falseO eBookCost of Units Completed and in ProcessThe charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at thebeginning of production.Work in Process-Assembly DepartmentBal., 2,000 units, 35% completed5,440To Finished Goods, 46,000 unitsDirect materials, 47,000 units @ $1.675,200Direct labor114,200Factory overhead44,410Bal. 2 units, 45% completeda. Based on the above data, determine the different costs listed below.If required, round your interim calculations to two decimal places.1. Cost of beginning work in process inventory completed this period.2. Cost of units transferred to finished goods during the period.243. Cost of ending work in process inventory.4. Cost per unit of the completed beginning work in process inventory, rounded to the nearestcent.b. Did the production costs change from the preceding period?Check My WorkPreviousNextAll work saved.Save and ExitSubmit Assignment for Grading9:50 PO AiA d)78°F Clear9/9/202insort scdeletehomeend144num

The total cost of producing a product, including raw materials and operating costs, is detailed in a…

Answered: Cost of Units Completed and in Process…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 4PB: Explain how each activity in this list can be associated with the corresponding unit or batch level...

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a. The cost of Work in process beginning in Dept Y is? b. The cost of Work in process -End in Dept Y is? c. The EUP in Mixing Department is (PLS type answer each letter) THANK YOU!
Activity Levels and Cost Drivers Shroeder Machine Shop has the following activities:a. Machine operationb. Machine setupc. Production schedulingd. Materials receivinge. Research and developmentf. Machine maintenanceg. Product designh. Parts administrationi. Final inspection of a sample of productsj. Materials handlingRequired1. Classify each of the activities as a unit-level, batch-level, product-level, or facility-level activity.2. Identify a potential cost driver for each activity in requirement 1.
Required information[The following information applies to the questions displayedbelow.]We discuss how to prepare the process costing production reportusing the weighted-average method. In addition, we discuss that aproduction report is a summary of what occurs in the productionprocess, and includes information about the number of physicalunits, number of equivalent units, cost per equivalent unit, and areconciliation of the cost of Work in Process Inventory. Knowledge Check 01Paula's Fab Tee Company, which prints T-shirts, has three processingdepartments (printing, labeling, and packaging). The total cost per equivalentunit was $17.80 for the printing department, $0.80 for the labeling department,and $0.40 for the packaging department. The total cost of the 1,450 units thatwere transferred out of the Work in Process Inventory (Packaging) account tothe Finished Goods Inventory account was:
Please refer to the pictures for parts A and B. Part C is below: Cost Assignment Completed and transferred out EUP Cost per EUP Total cost Direct materials Conversion Total Completed and transferred out Ending work in process EUP Cost per EUP Total cost Direct materials $0.00 0.00 Conversion $0.00 0.00 Total costs accounted for Fields Company
Required information Problem 03-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 Skip to question [The following information applies to the questions displayed below.] Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: BeginningInventory EndingInventory Work in process inventory—Cutting 73,500 75,500 Work in process inventory—Stitching 93,300 69,800 Finished goods inventory 26,100 14,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit $ 40,000 Direct materials used—Cutting 22,500 Direct materials used—Stitching 0 Direct labor Direct labor—Cutting $ 17,100 Direct labor—Stitching…
Requested: a. Prepare information to determine how much the cost of finished products is transferred to the warehouse and the cost of goods in process which at the end of the month have not yet been produced. b. Make a journal, so that the ledger can show the Cost of Production (COGS) for Finished Goods (FG) and Work in Process (WIP). Note: Write down a clear way of working, or the excel formula
Match each of the following items A through G with the best numbered description of its purpose. A. Factory Overhead account E. Raw Materials Inventory account B. Process cost summary F. Materials requisition C. Equivalent units of production G. Finished Goods Inventory account D. Work in Process Inventory accounts 1. Notifies the materials manager to send materials to a production department. 2. Holds indirect costs until assigned to production. 3. Hold production costs until products are transferred from production to finished goods (or another department). 4. Standardizes partially completed units into equivalent completed units. 5. Holds costs of finished products until sold to customers. 6. Describes the activity and output of a production department for a period. 7. Holds costs of materials until they are used in production or as factory overhead.
1. Using the following terms, complete the production cost report shown below: Ending work in process Total costs to account for Cost per equivalent unit Units started into production Manufacturing Overhead Beginning work in process Total units accounted for Raw Materials Inventory Transferred in costs Incurred during the period Completed and transferred out Total costs accounted for Transferred out costs Equivalent units Total units to account for Materials are added at the beginning of a production process, and ending work in process inventory is 30% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method. Costs to Account For Beginning inventory materials $10,000 Beginning inventory conversion 19,000 Direct materials 50,000 Direct labor 75,000 Applied overhead 37,248…
1. The materials requisition: a.informs the purchasing agent of the quantity and type of materials needed. b. contracts for quantities to be delivered. c. authorizes the storeroom to deliver types and quantities of materials to a given department. d. is the list of materials requirements for each step in the production cycle. 2. The purchase order: a. contracts for quantities to be delivered. b. authorizes the storeroom to deliver materials to a given department. c. is the list of materials requirements for each step in the production cycle. d. informs the purchasing agent of the quantity and kind of materials needed. 3. The receiving report: a.certifies quantities received and reports results of inspection and testing. b. is the list of materials needed for each step in the production cycle. c. contracts for quantities to be delivered. d. informs the purchasing agent of the quantity and…
Question Content Area Use this information about Department G to answer the question that follows. Department G had 1,800 units 25% completed at the beginning of the period, 12,800 units were completed during the period, 1,500 units were 20% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period $30,800 Costs added during period: Direct materials (12,500 units at $9) 112,500 Direct labor 88,550 Factory overhead 50,600 All direct materials are added at the beginning of the process, and the first-in, first-out cost flow method is used. Determine the total cost of the 1,800 units of beginning inventory that were completed during the period. Round the unit cost computation to the nearest cent. a. $45,650 b. $30,800 c. $42,680 d. $47,150
Please look at the photo attached to answer questions below. 1. Prepare a statement of equivalent production to determine the equivalent units for direct materials ( from process 1 & Direct materials added) and conversion costs and the cost per equivalent unit for direct materials and Conversion costs. 2. Calculate the total cost of units completed and transferred to finish goods inventory, calculate cost of abnormal losses and calculate the cost of ending work in process inventory process 2. 3. Prepare better choice’s work -in-process - process 2 T Accounts , clearly showing the ending balance
7. Using the following terms, complete the production cost report shown below: Ending work in process Total costs to account for Cost per equivalent unit Units started into production Manufacturing Overhead Beginning work in process Total units accounted for Raw Materials Inventory Transferred in costs Incurred during the period Completed and transferred out Total costs accounted for Finished Goods Inventory Equivalent units Total units to account for Materials are added at the beginning of the production process and ending work in process inventory is 80% complete with regard to conversion costs. Use the information provided to complete a production cost report using the weighted-average method. Cost to Account For Beginning inventory: materials $ 25,000 Beginning inventory: conversion 30,500 Direct materials 2,000 Direct labor 45,000 Applied overhead…

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