Ending Work in Process Month Beginning Units Units % Complete as Work in Transferred to Conversion Process Out Cost 10,000 8,000 January -0- 30,000 40% March -0- 40,000 75 July Compute the physical units for each month. -0- 40,000 16,000 25

Ending Work in Process Month Beginning Units Units % Complete as Work in Transferred to Conversion Process Out Cost 10,000 8,000 January -0- 30,000 40% March -0- 40,000 75 July Compute the physical units for each month. -0- 40,000 16,000 25

Name: BE21-4 Bowyer Manufacturing Company has the following production data
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: BE21-4 Bowyer Manufacturing Company has the following production data for selectedmonths.Ending Work in ProcessMonthBeginningUnitsUnits% Complete asWork inTransferredto ConversionProcessOutCostJanuary-0-30,00040,00010,00040%March-0-8,00075JulyComput

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 2CMA: Jones Corporation uses a first-in, first-out (FIFO) process cost system. Jones has the following...

See similar textbooks

Similar questions

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.
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
A production department within a company received materials of $7,000 and conversion costs of $5,000 from the prior department. It added material of $78400 and conversion costs of $47000. The equivalent units are 5,000 for material and 4,000 for conversion. What is the unit cost for materials and conversion?
Jones Corporation uses a first-in, first-out (FIFO) process cost system. Jones has the following unit information for the month of August: The equivalent units of production for conversion costs for the month of August were: a. 87,300 units. b. 88,000 units. c. 92,300 units. d. 92,700 units.
The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units one-fourth completed at a cost of 2,500 for materials, 1,400 for labor, and 1,800 for overhead. Production costs for the monthmaterials, 130,000; labor, 70,000; and factory overhead, 82,000. Units completed and transferred to stock45,000. Work in process, end of month5,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost. (Round unit costs to three decimal places.)
Data obtained from Antanian Manufacturing Inc. for July 2020 are as follows:Assembly DepartmentBeginning WIP- 100% RM, 60% CC 2.000 unitEnding WIP- 90% RM, 25% CC 1.400 unitsUnit put in process 6.000 unitsLost units (end of process) 100 unitsSpoiled units (abnormal) 200 unitsCost of Beginning WIP:- RM $ 450,000- CC 550,000Current Manufacturing Costs:- RM $ 750,000- CC 1,150,000 Required: Prepare cost of production (COGM) report for Assembly Department by using weighted averagemethod of process costing!
The production data for Department 1 for August 2015 are as follows:Actual UnitsWIP, August 1 (1/4 done as to conversion costs) 100,000Started in August 740,000Transferred out during August 610,000Spoiled units 80,000Cost of Beginning work-in process:Materials 1,250,000Conversion Costs 150,000Current Costs:Materials 7,400,000Conversion Costs 4,710,000Unit costs:Materials ?Conversion Costs 6Materials are added at the start of the process.Conversion costs are added evenly during the process.The company uses the FIFO method of costing.Inspection occurs, when production is 100% complete.Normal spoilage is 11% of good units transferred out during August.Req: What is the cost allocated to next department, work-in-process end in Department 1, and period cost?
Bubba Manufacturing Company provided the following information for the fiscal year toJune 30, 2020:Inventories 01/07/2019 30/06/2020Direct MaterialsWork-in-ProcessFinished Goods$72,000107,000149,500$65,000128,000141,700Other information:Office cleaner’s wages 4,500Sales Revenue 1,031,000Raw materials purchased 235,000Factory wages 239,700Indirect materials 23,500Delivery truck driver’s wages 15,400Indirect labor 9,500Depreciation on factory plant & equipment 32,000Insurance 1 60,000Depreciation on delivery truck 7,250Utilities 2 118,750Administrative salaries 41,250Special Design Costs 5,000Selling expenses 9,000Sales Commission 2% of gross profit1 Of the total insurance, 66⅔% relates to the factory facilities & 33⅓% relates to general& administrative costs.2 Of the total utilities, 80% relates to the manufacturing facilities & 20% relates to theoffice area.Requirements:a) What was the amount of direct materials used in production?b) What was the amount of manufacturing…
T2-6 Sury Company reported the following information for the month of April: Units Work in Process Beginning inventory, April 1 8,000 Added to production 45,000 Completed and transferred out ? Ending inventory, April 30 5,000 Sury also reported the following cost information in April: Costs Materials Conversion Work in Process Beginning inventory, April 1 $11,000 $ 17,160 Added to production 66,380 104,000 Questions I have: How do I find a.What was the cost per equivalent unit for materials? b.What was the cost per equivalent unit for conversion? c.What cost would be assigned to the units transferred out of Work in Process Inventory? d.What cost would be assigned to the ending Work in Process Inventory?
The unit costs per EUP computed under weighted average were as follows:Materials- P7Conversion costs- P21Transferred in- P35Materials are introduced at the beg. of the process in the 2nd of three departments. There were 4,000 units (40% complete as to conversion costs) in process at the end of the month while 20,000 were transferred to the next department. How much is the total cost of completed units?
For the month of January 2022, Au Company reported the following production data for Finishing Department. The company is in the first year of operation and uses WAM.Transferred in 75,000Transferred out to Finished Goods 59,250In process, end (1/3 converted) 15,750All raw materials are added in the 1st Department while packaging materials are added at the end of the process in this department. Cost data for the Finishing Department this period are as follows:Transferred in unit cost P12.70Direct materials unit costs per EUP P8.50Labor costs, this department P41,280Applied overhead, 120% of labor costsIf FIFO Method is used, the costs of goods manufactured amounted to:
Sarah produces a product that passes through two processes, Process 1 and Process 2. Details of activities for the month of December, 2020 is as follows; Process 1 Process 2Material introduced (4,000 units) @GH₵200.00 - Material added - GH₵25,000.00Labour Costs (@GH₵400 per hour) 200hrs 600hrsOutput in units 3,500units…