Hook Bait Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2020 are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 2,700 98 86 Work-in-process inventory — June 30 4,000 66 47 Started processing during June 8,900 Total equivalent units for conversion under the weighted-average method are calculated to be:

Hook Bait Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2020 are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 2,700 98 86 Work-in-process inventory — June 30 4,000 66 47 Started processing during June 8,900 Total equivalent units for conversion under the weighted-average method are calculated to be:

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Description: Hook Bait Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2020 are provided below: Tons of

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 9PA: The packaging department began the month with 500 units that were 100% complete with regard to...

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	Tons of King Salmon	Percent Completed
Materials	Conversion
Work-in-process inventory — June 1	2,700	98	86
Work-in-process inventory — June 30	4,000	66	47
Started processing during June	8,900

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The packaging department began the month with 750 units that were 100% complete with regard to material and 25% complete with regard to conversion. It received 9,500 units from the processing department and ended the month with 500 units that were 100% complete with regard to materials and 75% complete with regard to conversion. With a $7 per unit material cost and a $4 per unit cost for conversion, what is the cost of the units transferred out and remaining in ending inventory?
The packaging department began the month with 500 units that were 100% complete with regard to material and 85% complete with regard to conversion. It received 9,500 units from the processing department and ended the month with 750 units that were 100% complete with regard to materials and 30% complete with regard to conversion. With a $5 per unit cost for conversion and a $5 per unit cost for materials, what is the cost of the units transferred out and remaining in ending inventory?
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East Bay Fisheries Inc. processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2019 are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 3,300 86 89 Work-in-process inventory — June 30 4,600 69 50 Started processing during June 9,500 Total equivalent units for conversion under the weighted-average method are calculated to be
East Bay Fisheries Inc. processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2019 are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 1,500 90 80 Work-in-process inventory — June 30 2,800 60 40 Started processing during June 7,800 Total equivalent units for materials under the weighted-average method are calculated to be:
Hook Bait Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2020 are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 2,000 94 81 Work-in-process inventory — June 30 3,300 61 38 Started processing during June 8,300 Total equivalent units for conversion under the weighted-average method are calculated to be: Multiple Choice 7,168 equivalent units. 9,013 equivalent units. 7,323 equivalent units. 8,177 equivalent units. 8,254 equivalent units.
Hook Bait Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2020 are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 1,600 92 81 Work-in-process inventory — June 30 2,900 62 41 Started processing during June 7,900 Total equivalent units for materials under the FIFO method are calculated to be: Multiple Choice 7,318 equivalent units. 6,926 equivalent units. 7,789 equivalent units. 7,080 equivalent units. 8,398 equivalent units.
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Hook Bait Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2020 are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 3,400 85 87 Work-in-process inventory — June 30 4,700 60 37 Started processing during June 9,600 Total equivalent units for materials under the weighted-average method are calculated to be: Multiple Choice 10,496 equivalent units. 8,010 equivalent units. 11,120 equivalent units. 7,865 equivalent units. 10,039 equivalent units.
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RJ Inc. is a company manufacturing a product known as "COLOREE" which undercover uniform process prior to its completion. For the year ended December 31, 2020, the following data are provided by the company: a. The work-in-process inventory on January 1, 2020 is 10,000 units which are 80% incomplete regards to conversion cost while the work-in-process inventory on December 31, 2020 is 60% complete as regards to conversion cost. b. The total units started during the year amounted to 90,000 units while the total units manufactured during the year amounted to 70, 000 units. c. There is no spoilage during the period. d. It is the company's policy to apply direct labor and factory overhead evenly throughout the period while 2/5 of direct materials are added at the start of the process while the remaining direct materials are added at the end of the process. e. The cost of January 1, 2020 work-in-process inventory consists of P100,000-direct material, P200,000-direct labor and…