Please do not give solution in image format thanku Required informationExercise 8-35 & 8-36 (Algo) (LO 8-5)[The following information applies to the questions displayed below.]The Matsui Lubricants plant uses the FIFO method to account for its work-in-process inventories. The accounting recordsshow the following information for a particular day.Beginning WIP inventoryDirect materialsConversion costsCurrent period costsDirect materialsConversion costsBeginning inventoryCurrent period units startedEnding inventory$ 975362Quantity information is obtained from the manufacturing records and includes the following.14,4009,776Cost of goods transferred outCost of ending inventory750 units4,600 units1,500 units(60% complete as to materials,52% complete as to conversion)(40 % complete as to materials,20% complete as to conversion)Exercise 8-36 (Algo) Assign Costs to Goods Transferred Out and Ending Inventory: FIFO Method (LO 8-5)Compute the cost of goods transferred out and the ending inventory using the FIFO method. (Do not round intermediatecalculations.)

The question is based on the concept of Cost Accounting. First-in-first-out (FIFO) Method is a…

Exercise 8-35 & 8-36 (Algo) (LO 8-5) [The following information applies to the questions displayed below.] The Matsui Lubricants plant uses the FIFO method to account for its work-in-process inventories. The accounting records show the following information for a particular day. Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials 975 362 14 199

Exercise 8-35 & 8-36 (Algo) (LO 8-5) [The following information applies to the questions displayed below.] The Matsui Lubricants plant uses the FIFO method to account for its work-in-process inventories. The accounting records show the following information for a particular day. Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials 975 362 14 199

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 12E: a. Based on the data in Exercise 17-11, determine the following: 1. Cost of beginning work in...

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15.In Company D, direct labor was estimated at 68000, general administrative expenses at 55000, direct materials at 45000, and selling expenses at 59000. The company uses fifo for raw materials valuation and the tiered apportionment method. the cost of the period was calculated as:a. 123000b. 114000c. 113000d.?
A schedule of cost of goods manufactured shows:a. Materials used, P600,000b. Direct labor, 1,600,000c. Overhead costs, P 1,280,000d. Work in process, ending inventory, P280,000Compute for (1) the rate of factory overhead to direct labor cost, and (2) the direct materialsincluded in the work in process inventory, assuming that the direct labor in the work in processis P100,000. a. (1) 80% ; (2) P80,000b. (1) 125% ; (2) P60,000c. (1) 80% ; (2) P100,000d. (1) 125% ; (2) P100,000
All costs incidental to materials procurement and handling until they are issued are charged tothe materials account by Cruz Mfg. Co. at a rate predetermined for each of the departmentsinvolved.For 19C, the estimated departmental costs are given:Purchasing department P175,000Receiving and Inspection Dept. 124,500Materials department 83,000Accounting department (20% isestimated to be related toprocessing of payments formaterials.295,000Purchases for 19C were estimated to amount to P5, 000,000 for more or less 8,300,000units to be ordered 50 times.Actual purchases for 19C amounted to P5, 600,000 for total of 8,000,000 units in 52orders. Costs incurred by the four given departments were as follows:Purchasing department P180,000Receiving and inspectiondepartment128,000Materials department 78,000Accounting department (20% isestimated to be related toprocessing of payments formaterials.290,000Required:a. Compute for the predetermined departmental overhead rates.b. How much is the applied…
In November, Angerstein Co. computed its equivalent units costs under the FIFO process costing as follows: Direct Material P29.50 Packaging 3 Direct Labor 10.84 Overhead 7.68 Direct material and packaging are added at the start and end of processing, respectively. Beginning inventory cost was P1,026,810 and consisted of P789,000 direct material cost for 54,000 EUP P91,862 direct labor cost for 16,200 P145,908 overhead cost for 18,900 EUP Angerstein transferred a total of 370,000 units to finished goods during November and had 12,000 units in ending WIP inventory. The ending inventory units were 30% complete as to direct labor and 55% complete as to overhead. Questions:1. What was the cost of November's ending inventory? 2. What is the percentage of completion for the beginning inventory for overhead, direct labor, and direct material?
In November, Angerstein Co. computed its equivalent units costs under the FIFO process costing as follows: Direct Material P29.50 Packaging 3 Direct Labor 10.84 Overhead 7.68 Direct material and packaging are added at the start and end of processing, respectively. Beginning inventory cost was P1,026,810 and consisted of P789,000 direct material cost for 54,000 EUP P91,862 direct labor cost for 16,200 P145,908 overhead cost for 18,900 EUP Angerstein transferred a total of 370,000 units to finished goods during November and had 12,000 units in ending WIP inventory. The ending inventory units were 30% complete as to direct labor and 55% complete as to overhead. Questions: 1. What is the percentage of completion for the beginning inventory - Packaging? 2. What was the total cost of the computed beginning inventory in units? 3. What was the total cost of the units started and completed in November? 4. What was the cost of November's ending inventory?
The following information has been taken from the cost records of Wil Company for thepast year:Raw material used in production P326Total manufacturing costs charged to production during the year (includes direct material, direct labor, and overhead equal to 60% of direct labor cost) 686Cost of goods available for sale 826Selling and Administrative expenses 25 Inventories Beginning EndingRaw Material P75 P 85Work in Process 80 30Finished Goods 90 110 7. Direct labor cost charged to production during the year wasa. P135.b. P216.c. P225.d. P360.
Please check my answer: - process accounting - ch6-ex51 Unit Cost and Cost Assignment, Nonuniform Inputs Loran Inc. had the following equivalent units schedule and cost for its fabrication department during September: Materials Conversion Units completed 180,000 180,000 Add: Units in ending WIP x Fraction complete 79,000 51,350 (79,000 x 65%) Equivalent units of output 259,000 231,350 Costs: Work in process, September 1: Materials $147,000 Conversion costs 7,875 Total $154,875 Current costs: Materials $1,068,000 Conversion costs 289,055 Total $1,357,055 Required: 1. Calculate the unit cost for materials, for conversion, and in total for the fabrication department for September. If required, round your answers to the nearest cent. Unit materials cost $4.69 Unit conversion cost $1.28 Total unit cost $5.97 2. Calculate the cost of units transferred out…
Marigold Corp. developed the following data for the current year: Beginning work in process inventory $310000 Direct materials used 204000 Actual overhead 348000 Overhead applied 276000 Cost of goods manufactured 324000 Total manufacturing costs 910000 Marigold Corp.'s ending work in process inventory is $896000. $276000. $600000. $586000.
The following information has been taken from the cost records of Wil Company for thepast year:Raw material used in production P326Total manufacturing costs charged to production during the year (includes direct material, direct labor, and overhead equal to 60% of direct labor cost) 686Cost of goods available for sale 826Selling and Administrative expenses 25 Inventories Beginning EndingRaw Material P75 P 85Work in Process 80 30Finished Goods 90 110 The cost of raw material purchased during the year wasa. P316.b. P336.c. P360.d. P411.
The following information has been taken from the cost records of Wil Company for thepast year:Raw material used in production P326Total manufacturing costs charged to production during the year (includesdirect material, direct labor, and overhead equal to 60% of direct labor cost) 686Cost of goods available for sale 826Selling and Administrative expenses 25 Inventories Beginning EndingRaw Material P75 P 85Work in Process 80 30Finished Goods 90 110 Required: a. The cost of raw material purchased during the year b. Direct labor cost charged to production during the year c. Cost of Goods Manufactured d. Cost of Goods Sold
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Required information [The following information applies to the questions displayed below.] The following data refer to Twisto Pretzel Company for the year 20x1. Work-in-process inventory, 12/31/x0 $ 8,000 Selling and administrative salaries 13,700 Insurance on factory and equipment 3,600 Work-in-process inventory, 12/31/x1 8,200 Finished-goods inventory, 12/31/x0 14,000 Cash balance, 12/31/x1 7,000 Indirect material used 4,600 Depreciation on factory equipment 2,100 Raw-material inventory, 12/31/x0 10,100 Property taxes on factory 2,400 Finished-goods inventory, 12/31/x1 15,400 Purchases of raw material in 20x1 39,000 Utilities for factory 6,000 Utilities for sales and administrative offices 2,300 Other selling and administrative expenses 3,800 Indirect-labor cost incurred 29,000 Depreciation on factory building 3,600 Depreciation on cars used by sales personnel 1,200…