H 2345 3 Data 4 Beginning work in process inventory: Units in process A Chapter 4: Applying Excel 6 7 8 9 10 Conversion cost 11 Units started into production during the period 12 Costs added to production during the period: 13 Materials cost 14 Conversion cost 15 16 678 17 18 Completion with respect to materials Completion with respect to conversion Costs in the beginning work in process inventory: Materials cost Ending work in process inventory: Units in process Completion with respect to materials Completion with respect to conversion $ S B 500 30 % 95 % 2,380 23,101 13,200 $ 210,092 S 942,499 C 200 60 % 50 %

H 2345 3 Data 4 Beginning work in process inventory: Units in process A Chapter 4: Applying Excel 6 7 8 9 10 Conversion cost 11 Units started into production during the period 12 Costs added to production during the period: 13 Materials cost 14 Conversion cost 15 16 678 17 18 Completion with respect to materials Completion with respect to conversion Costs in the beginning work in process inventory: Materials cost Ending work in process inventory: Units in process Completion with respect to materials Completion with respect to conversion $ S B 500 30 % 95 % 2,380 23,101 13,200 $ 210,092 S 942,499 C 200 60 % 50 %

Accounting Information Systems

11th Edition

ISBN:9781337552127

Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Publisher:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Chapter15: Integrated Production Processes (ipps)

Section: Chapter Questions

Problem 2P: Study Figure 15.8, showing the level 0 DFD of the cost accounting system. Note that the raw...

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12. Which of the following entry rightly record for transferring goods from WIP to finished stock? a. A. Dr. Work in Process Inventory A/c Cr. Costing Profit and Loss A/c b. A. Dr. Work in Process Inventory A/c Cr. Finished Goods Inventory A/c c. A. Dr. Costing Profit and Loss A/c Cr. Work in Process Inventory A/c d. A. Dr. Finished Goods Inventory A/c Cr. Work in Process Inventory A/c
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Consider the following dataWork in process inventory December 317000Work in process inventory January 19000Purchases of raw material63000Raw Material inventory December 313000Raw Material inventory January 19000Direct Labor12000Total manufacturing overhead6000Calculate the cost of goods manufactured
1. The number of units in work in process inventory at the end of the period. 2. Equivalent units of production for direct materials and conversion 3. Costs per equivalent unit for direct materials and conversion. 4. Cost of the units started and completed during the period.
Work in process inventory, 08/31/x2? Finished goods inventory, 08/31/x2?
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:
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n the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the period. Compute the cost of direct labor used for the period. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of goods manufactured in the period. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufactured (from part 3). Solve for cost of goods sold in the period (do not consider any under- or overapplied overhead). In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or overapplied overhead.
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