Cycling Corporation identified the following budgeted data for this year. The company produces two types of bicycles, Recreational and Racing.ActivityBudgeted Overhead CostBudgeted Activity$ 2,500,000Handling materialsQuality inspection400,000 parts360,0006,000 inspectionsPurchasing100,0004,000 ordersTotal$ 2,960,000The company allocates overhead cost based on 10,000 budgeted direct labor hours. The Recreational bicycle uses 5 direct labor hours per unit, and theRacing bicycle uses 10 direct labor hours per unit. Overhead cost per unit for the Racing bicycle is: Compute the number of equivalent units with respect to conversion using the weighted-average method.Direct MaterialsConversion PercentUnitsPercent CompleteCompleteBeginning work in process inventoryUnits started and completed35,000100%55%110,000Units completed and transferred outEnding work in process inventory145,00040,000100%30%

the overhead cost of a company is allocated using 3 methods 1. plantwide overhead allocation method…

Answered: Dverhead cost per unit for the Racing…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1EB: Given the following information, determine the equivalent units of ending work in process for...

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The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added 50% at the beginning of the process and 50% at the end of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added 50% at the beginning of the process and 50% at the end of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
Given the following information, determine the equivalent units of ending work in process for materials and conversion using the weighted-average method: Beginning inventory of 750 units is 100% complete with regard to materials and 30% complete with regard to conversion. 9,500 units were started during the period. 8,900 units were completed and transferred. Ending inventory is 100% complete with regard to materials and 68% complete with regard to conversion.
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.
Refer to the data in Problem 6.31. Assume that the FIFO method is used. Required: 1. Prepare a physical flow schedule. 2. Calculate equivalent units of production for direct materials and conversion costs. 3. Compute unit cost. Round to three decimal places. 4. Calculate the cost of goods transferred to Painting at the end of the month. Calculate the cost of ending inventory.
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 80% complete with regard to conversion costs.
There were 1,500 units in ending work in process inventory that were 100% complete with regard to material and 60% complete with regard to conversion costs. Ending work in process inventory had a cost of $7,200 and a per-unit material cost of $3. What was the conversion cost per unit using the weighted-average method?
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.
Compute the conversion cost per equivalent unit for the Production department using the weighted-average method. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Production cost information for the Production department follows. Beginning work in process Conversion costs added this period Conversion Multiple Choice O $172 O $5.60. $0.94 $5.02 Direct Materials Units Percent Complete Percent Complete 10,000 76,000 86,000 15,000 $ 52,100 450, 500 100% 100% Conversion < Prev 30% 25% 12 of 25 Next
Part A The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted - average method? Assume that the quarters are independent. \table [[Beginning ,,], [Quarter, \table [[Work in], [Process]], Started, Out, (%)],[1,, 255, 000, 235,50], [2, 2, 500, 275, 000, 250, 40], [3, 3, 600, 290, 000, 275,000, 45], [4, 6, 500, 300,000, 280, 000,60]]
A process manufacturer that uses the weighted-average method reports the following. Beginning work in process inventory Units completed and transferred out Ending work in process inventory Equivalent units of production for conversion are: Multiple Choice O 125,200. Units 38,000 108,000 43,000 Conversion Percent Complete 80% 40%

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Dverhead cost per unit for the Racing bicycle is: