How do you get the $41,200 from the 70% of 85000 units shown in answer 2 solution WEIGHTED AVERAGE METHOD (MIXING DEPARTMENT)UnitsParticularsBeginning work in progressCurrent period introduction85,000.00400,000.00485,000.00Total unitsPRODUCTION COST REPORTParticularsCompleted & transferredoutUnits385,000.00100,000.00485,000.00Ending WIPTotal unitsEquivalent units calculationUnits80%45%MaterialCompleted & transferredoutEnding work in progress385,000.00385,000.00385,000.00100,000.0080,000.0045,000.00Total485,000.00465,000.00430,000.00Answer 1:-Equivalent units for material for june for mixing department = 465,000 unitsEquivalent units for coversion for june for mixing department = 430,000 unitsAnswer 2:-Cost per equivalent units for material for june (41200+368000)/465000 = 0.88Cost per equivalent units for conversion for june (16500+263000)/430000 = 0.65Cost per equivalent units for june for mixing department = 0.88 + 0.65 = 1.53 per EUP%3D Firenze, Inc., manufactures a product that goes through two departments prior tocompletion-the Mixing Department followed by the Packaging Department. Thefollowing information is available about work in the first department, the MixingDepartment, during June.Percent CompletedMaterials Conversion70%Work in process, beginningStarted into productionCompleted and transferred outWork in process, endingWork in process, beginningCost added during JuneUnits85,000400,000385,000100,00030%80%$41,200$368,00045%$16,500$263,000Required:Assume that the company uses the weighted-average method.1. Determine the equivalent units for June for the Mixing Department.2. Compute the costs per equivalent unit for June for the Mixing Department.3. Determine the total cost of ending work in process inventory and the total cost of unitstransferred to the Packaging Department.4. Prepare a cost reconciliation report for the Mixing Department for June.

The equivalent units are calculated on the basis of percentage of the work completed during the…

Answered: How do you get the $41,200 from the 70%…

Business

Accounting

How do you get the $41,200 from the 70% of 85000 units shown in answer 2 solution

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 3EA: Given the following information, determine the equivalent units of ending work in process for...

See similar textbooks

Similar questions

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…
What is the equivalent units of production (EUP) on conversion in Department 3? a.19,000 b.18,500 c.18,275 d.18,850
ssume the following information: Milling Department Materials Conversion Total Cost of beginning work in process inventory $ 10,000 $ 15,000 $ 25,000 Costs added during the period 291,600 394,500 686,100 Total cost $ 301,600 $ 409,500 $ 711,100 Assume the equivalent units of production for materials and conversion, when using the weighted-average method, are 5,200 units and 5,000 units, respectively. If the equivalent units in ending work in process inventory for materials and conversion are 400 units and 200 units, respectively, then what is the total cost of ending work in process for the Milling Department?
Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Issued Balance ReceivingReportNumber Quantity UnitPrice MaterialsRequisitionNumber Quantity Amount Date Quantity Unitprice Amount May 1 285 $30.00 $8,550 40 130 $32.00 May 4 fill in the blank b6beca03afc4fb5_1 fill in the blank b6beca03afc4fb5_2 fill in the blank b6beca03afc4fb5_3 fill in the blank b6beca03afc4fb5_4 fill in the blank b6beca03afc4fb5_5 fill in the blank b6beca03afc4fb5_6 91 365 $fill in the blank b6beca03afc4fb5_7 May 10 fill in the blank b6beca03afc4fb5_8 fill in the blank b6beca03afc4fb5_9 fill in the blank b6beca03afc4fb5_10 44 110 38.00 May 21 fill in the blank b6beca03afc4fb5_11 fill in the blank b6beca03afc4fb5_12 fill in the blank…
Assume an ending work in process of inventory of 100 units, 80% complete regarding materials and 30% complete regarding conversion. For purposes of calculating costs per equivalent unit for materials and conversion: a) the numerator would include 80 units for materials and 30 units for conversion b) the denominator would include 100 units for materials and 100 units for conversion c) the denominator would include 20 units for materials and 70 units for conversion d) the denominator would include 80 units for materials and 30 units for conversion
EQUIVALENT UNITS—WEIGHTED AVERAGE METHODThe following data are for four independent process-costing departments. Inputs areadded continuously.ABCDBeginning inventory 3,000 2,000 — 25,000Percent completion 30% 75% — 60%Units started 19,000 20,000 48,000 35,000Ending inventory 4,000 — 8,000 10,000Percent completion 20% — 25% 10%Required:Compute the equivalent units of production for each of the preceding departments using the weighted average method.
Physical Units Transferred-in costs (from Production Dept.) Direct Material Conversion Costs Beginning inventory, WIP (June 1) 90 $105,000 $0 $55,000 % of completion, beginning WIP 100% 0% 60% Transferred-in during June 150 Completed and transferred-out in June 155 Ending inventory, WIP (June 30) ??? % of completion, ending WIP 100% 20% 80% Total costs added during June $205,000 $55,000 $99,000 XYZ Co. operates two departments: Production and Assembly. This exercise focuses on the Assembly department. Direct Materials are added at the end of the process but conversion costs are added evenly during the process. Required: Using FORMULAS, prepare a worksheet to assign total costs to units completed and to units in ending work in process using weighted-average method of process costing. Rules/steps to consider: Prepare first the hand-written assignment Then, work on your Excel spreadsheet
(USE WEIGHTED AVERAGE METHOD)Direct materials are added at the beginning of the process and conversions costs are uniformly applied. Otherdetails include:WIP beginning (50% for conversion) 28,400 unitsUnits started 124,000 unitsUnits completed and transferred out 107,000 unitsWIP ending (50% for conversion) 45,400 unitsBeginning WIP direct materials $53,200Beginning WIP conversion costs $19,600Costs of materials added $442,100Costs of conversion added $304,650Required:a. What are the total equivalent units for direct materials?b. What are the total equivalent units for conversion costs?c. What is the cost per equivalent unit for direct materials?
(USE WEIGHTED AVERAGE METHOD)Direct materials are added at the beginning of the process and conversions costs are uniformly applied. Otherdetails include:WIP beginning (50% for conversion) 28,400 unitsUnits started 124,000 unitsUnits completed and transferred out 107,000 unitsWIP ending (50% for conversion) 45,400 unitsBeginning WIP direct materials $53,200Beginning WIP conversion costs $19,600Costs of materials added $442,100Costs of conversion added $304,650Required:d. What is the cost per equivalent unit for conversion costs?e. What is the total cost of units completed and transferred out?f. What is the total cost of units remaining in ending WIP?
Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Issued Balance ReceivingReportNumber Quantity UnitPrice MaterialsRequisitionNumber Quantity Amount Date Quantity Unitprice Amount May 1 285 $30.00 $8,550 40 130 $32.00 May 4 fill in the blank 6b5d28043011031_1 fill in the blank 6b5d28043011031_2 fill in the blank 6b5d28043011031_3 fill in the blank 6b5d28043011031_4 fill in the blank 6b5d28043011031_5 fill in the blank 6b5d28043011031_6 91 365 $fill in the blank 6b5d28043011031_7 May 10 fill in the blank 6b5d28043011031_8 fill in the blank 6b5d28043011031_9 fill in the blank 6b5d28043011031_10 44 110 38.00 May 21 fill in the blank 6b5d28043011031_11 fill in the blank 6b5d28043011031_12 fill in the blank…
a. Based on the data in Exercise 20-11 (attached), determine the following:1. Cost of beginning work in process inventory completed this period2. Cost of units transferred to finished goods during the period3. Cost of ending work in process inventory4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest centb. Did the production costs change from the preceding period? Explain.c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?
Question attached in image below REQUIRED Complete the valuation of completed and transferred out units. Round to two (2) decimal places. R Opening WIP costs Costs to complete opening WIP - Materials - Conversion