G. H. B. Process Cost Practice Quiz Part 1 The following information is related to the blending department: 1. 1,900 units in beginning WIP, 60X completed as to conversion costs 2. Direct Materials added: 22,000 units 3. Goods completed and transterred total 21,800 units 4. All materials are added at the beginning of the process. 5. Beginning WIP was $7,657 10 6. Cost of DMadded during the month: $77,000 7. Cost of DL added during the month: $14,200 8. Factory overhead applied during the month: $6,880 13 9. Ending WIP inventory is 20% completed as to conversion costs 14 15 12 Required. 16 1 Compute total units to be assigned costs 2. Compute Group 1-3 whole units and equivalent units 18 R.Compute cost per equivalent unit for materials and conversion costs 18 4. Using cost per equivalent unit above, determine (A) cost transferred 20 21 22 out of WIP to next department and (B) cost assigned to ending WIP VIP- Blending Dept. 23 Units Units 24 25 26 Beginning 27 28 23 DM 30 31 32 DL 33 34 FOH Group 1 7,657 Beginning 1,900 $ Cost to Complete Total Group 2 Start Compl. 35 36 Total Completed Total 38 39 40 41 Units 43 Group 3 44 Ending 45 46 88288 5885 File Home Insert Page Layout Formulas Data Review View Help A2 B: H. 1 Process Cost Quiz - Part 2 3. Units to be Assigned Costs: Equivalent Units Z Conv. Whole Units % DM lirect Materials Conversion 6 Group 1 Beginning Group 2 Start +Compl. 10 11 12 Total Completed and Transterred 13 14 Group 3 15 Ending 16 17 Total Units to be Assigned Costs 18 19 Cost/Equivalent Unit DMCost = Cony Cost = 20 DMEU Conv EU 21 22 Costs Allocated to Completed and Ending Inventory Units 23 Direct Materia Conversion Total 24 Group 1 26 27 28 Group 2 29 •? 30 31 Total Completed 32 33 Group 3 34 36 Total Costs Assigned by Blending Dept. 37 39 Sheet1 Sheet2 Sheet3 O Type here to search (+)
G. H. B. Process Cost Practice Quiz Part 1 The following information is related to the blending department: 1. 1,900 units in beginning WIP, 60X completed as to conversion costs 2. Direct Materials added: 22,000 units 3. Goods completed and transterred total 21,800 units 4. All materials are added at the beginning of the process. 5. Beginning WIP was $7,657 10 6. Cost of DMadded during the month: $77,000 7. Cost of DL added during the month: $14,200 8. Factory overhead applied during the month: $6,880 13 9. Ending WIP inventory is 20% completed as to conversion costs 14 15 12 Required. 16 1 Compute total units to be assigned costs 2. Compute Group 1-3 whole units and equivalent units 18 R.Compute cost per equivalent unit for materials and conversion costs 18 4. Using cost per equivalent unit above, determine (A) cost transferred 20 21 22 out of WIP to next department and (B) cost assigned to ending WIP VIP- Blending Dept. 23 Units Units 24 25 26 Beginning 27 28 23 DM 30 31 32 DL 33 34 FOH Group 1 7,657 Beginning 1,900 $ Cost to Complete Total Group 2 Start Compl. 35 36 Total Completed Total 38 39 40 41 Units 43 Group 3 44 Ending 45 46 88288 5885 File Home Insert Page Layout Formulas Data Review View Help A2 B: H. 1 Process Cost Quiz - Part 2 3. Units to be Assigned Costs: Equivalent Units Z Conv. Whole Units % DM lirect Materials Conversion 6 Group 1 Beginning Group 2 Start +Compl. 10 11 12 Total Completed and Transterred 13 14 Group 3 15 Ending 16 17 Total Units to be Assigned Costs 18 19 Cost/Equivalent Unit DMCost = Cony Cost = 20 DMEU Conv EU 21 22 Costs Allocated to Completed and Ending Inventory Units 23 Direct Materia Conversion Total 24 Group 1 26 27 28 Group 2 29 •? 30 31 Total Completed 32 33 Group 3 34 36 Total Costs Assigned by Blending Dept. 37 39 Sheet1 Sheet2 Sheet3 O Type here to search (+)
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 14E: Cost per equivalent unit The following information concerns production in the Forging Department for...
Related questions
Question
100%
Transcribed Image Text:G.
H.
B.
Process Cost Practice Quiz Part 1
The following information is related to the blending department:
1. 1,900 units in beginning WIP, 60X completed as to conversion costs
2. Direct Materials added: 22,000 units
3. Goods completed and transterred total 21,800 units
4. All materials are added at the beginning of the process.
5. Beginning WIP was $7,657
10
6. Cost of DMadded during the month: $77,000
7. Cost of DL added during the month: $14,200
8. Factory overhead applied during the month: $6,880
13 9. Ending WIP inventory is 20% completed as to conversion costs
14
15
12
Required.
16 1 Compute total units to be assigned costs
2. Compute Group 1-3 whole units and equivalent units
18
R.Compute cost per equivalent unit for materials and conversion costs
18
4. Using cost per equivalent unit above, determine (A) cost transferred
20
21
22
out of WIP to next department and (B) cost assigned to ending WIP
VIP- Blending Dept.
23
Units
Units
24
25
26 Beginning
27
28
23 DM
30
31
32 DL
33
34
FOH
Group 1
7,657 Beginning
1,900 $
Cost to Complete
Total
Group 2
Start Compl.
35
36
Total
Completed
Total
38
39
40
41
Units
43 Group 3
44 Ending
45
46
88288 5885
Transcribed Image Text:File
Home
Insert
Page Layout
Formulas
Data
Review
View
Help
A2
B:
H.
1
Process Cost Quiz - Part 2
3.
Units to be Assigned Costs:
Equivalent Units
Z Conv.
Whole
Units
% DM
lirect Materials
Conversion
6 Group 1
Beginning
Group 2
Start +Compl.
10
11
12 Total Completed and Transterred
13
14
Group 3
15
Ending
16
17
Total Units to be Assigned Costs
18
19
Cost/Equivalent Unit
DMCost =
Cony Cost =
20
DMEU
Conv EU
21
22 Costs Allocated to Completed and Ending Inventory Units
23
Direct Materia Conversion
Total
24 Group 1
26
27
28 Group 2
29
•?
30
31
Total Completed
32
33 Group 3
34
36 Total Costs Assigned by Blending Dept.
37
39
Sheet1
Sheet2
Sheet3
O Type here to search
(+)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 3 images
Recommended textbooks for you
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,