If 24,000 units are 75% complete with respect to direct materials, then the equivalent units of production for direct materials are The weighted - average method is used. O A. 30,000 units O B. 6,000 units O C. 18,000 units O D. 24,000 units

If 24,000 units are 75% complete with respect to direct materials, then the equivalent units of production for direct materials are The weighted - average method is used. O A. 30,000 units O B. 6,000 units O C. 18,000 units O D. 24,000 units

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 5EA: A company has 1,500 units in ending work in process that are 30% complete after transferring out...

See similar textbooks

Related questions

Q: der absorption costing, a company had the following unit costs when 8,000 units were produced rect…

A: Absorption costing is a type of posting where the cost is link to number of units that are produced.…

Q: Drummond’s standard quantities for 1 unit of product include 2 pounds of materials and 1.5 labor…

A: Standard costs are estimates of the actual costs in a company's production process, because actual…

Q: The following information is provided about three materials utilized in the production of a product:…

A: we know that, Material Yield Variance = (Standard Yield - Actual Yield) * Standard cost Given that,…

Q: With respect to conversion costs, how many equivalent units were calculated for the product that was…

A: First step is to find out the physical units Units started 40,000 Completed…

Q: If 28,000 units are 80% complete with respect to direct materials, then the equivalent units of…

A: Equivalent units of production for direct materials = No. of units x % complete with respect to…

Q: 1. The Packaging Department had the following production. What is the cost per equivalent units for…

A: Equivalents units of material = Units started and completed*100% + Ending inventory* % completed =…

Q: 9. The Al Nabras Company uses the weighted average method in its process costing system. The…

A: Work-in-process (WIP) inventory can be defined as that form of inventory that is partially…

Q: Annenbaum Corporation uses the weighted-average method in its process costing system. This mo-…

A: Material Cost is the cost that is incurred by the company while purchasing the material. Whereas,…

Q: Ehrlich Inc. makes a product with the following standard costs for direct material and direct labor:…

A: Variance is the difference between the standards of performance and the actual levels of…

Q: Direct materials cost $10 per unit, direct labour is $7 per unit, and overhead cost is applied at…

A: Equivalent units of products concept came in to existence when some units are not fully completed at…

Q: A company reports the following for one of its products. Direct materiels standard (4 pounds @ s2…

A: Lets understand the basics. Material price variance is a variance between the rate at which material…

Q: Given the following data, calculate product cost per unit under absorption costing. dir labor:…

A: In absorption costing we consider fixed overhead also as cost of product.

Q: With respect to direct materials costs, how many equivalent units were calculated for the product…

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

Q: are added after the Using the same data, inspection point, the inspection takes place when the units…

Q: Shore Company reports the following information regarding its production cost. 29,000 units %24…

A: Fixed Overhead per unit = Total Fixed overhead / Units produced Product Cost under absorption…

Q: Complete the following manufacturing cost schedule (a through j) for Lazer Tag. Parts Produced…

A: Cost volume profit analysis is the technique used by the management for decision-making. The methods…

Q: The following standard costs were developed for one of the products of ELJAY Sdn Bhd (ESB) STANDARD…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Hercules Chemical Corporation uses process costing to calculate unit costs. For one of its products,…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: n the manufacture of 9,600 units of a product, direct materials cost incurred was $170,200, direct…

A: Conversion cost are the expenses incurred when converting raw material into finished product. Thus…

Q: A production department within a company received materials of $11,166 and conversion costs of…

A: Process costing: It is a type of costing method, where the direct costs are accumulated and indirect…

Q: Given the following data, calculate product cost per unit under absorption costing. Direct labor RM…

A: In absorption costing method, cost of an product will include total amount of variable cost and…

Q: D. 11,000 units are produced? Total variable costs $ 572,000 For E. and F., what is the total…

A: We are given break up of average cost per unit at 15000 units of production level for various cost…

Q: Department W had 2,880 units, one-third completed at the beginning of the period; 13,400 units were…

A: b. 13,040 units

Q: Shore Company reports the following information regarding its production cost. Units produced 29,000…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: The equivalent units of production used to compute unit conversion cost on the cost of production…

A: Process cost report: Process cost report is prepared separately for each production department or…

Q: The following department data are available: Total materials costs OMR 180,000 Equivalent units of…

A: Manufacturing Cost per unit is sum of total cost per unit incurred for manufacturing the product. In…

Q: 2.Gross com. operates a product. Output from the process for a month was as follows: Units of output…

A: Lets understand the basics. In Physical measurement of allocating joint cost method, cost are…

Q: 2 Given the following data, calculate the total product cost per unit under variable costing. Direct…

A: Formula: Total product cost under variable costing: Direct materials + Direct labor + Variable…

Q: The equivalent production under weighted average costing method is arrived at as follows: Finished…

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

Q: The following materials standards have been established for a particular product: Standard quantity…

A: Variance analysis is the analysis which helps the manager for having a better control on business.…

Q: Department W had 2,460 units, one-third completed at the beginning of the period; 12,500 units were…

A: Equivalent Units in laymen terms means work done in Particular period will create how many fully…

Q: Direct materials cost $10 per unit, direct labour is $7 per unit, and overhead cost is applied at…

A: Equivalent units for labor and overhead = Beginning inventory x % of completion = 6,000 x…

Q: All direct materials are placed in process at the beginning of the process and the average cost…

A: Conversion Costs Conversion costs are those costs that convert raw materials into a finished…

Q: 8. Given the following data, calculate product cost per unit under variable costing. Direct labor $7…

A: Variable costing is the method of costing, where only the variable costs are assigned to the cost of…

Q: Beginning WIP is 45% complete, and ending WIP is 10% complete as to conversion costs. Materials are…

A: WIP means the work in process. It means it is a that type of inventory on which some portion of the…

Q: The total prime cost of a product was OMR6,000. The variable manufacturing overhead is calculated…

A: The cost can be classified into two categories i.e fixed cost and variable cost. The FIxed cost…

Q: Department W had 2,880 units, one-third completed at the beginning of the period; 12,200 units were…

A: Given, Beginning work in process = 2,880 units Units completed and transferred out = 12,200 units…

Q: Company has the following production information available for June: Fotal materials costs…

A: Manufacturing cost per unit is calculated based on the cost incurred and equivalent units. Per unit…

Q: The standard product mix for making 12,500 tubes of liquid solder is: Kgs…

A: This question deals with the material yield variance. Material yield variance indicates the…

Q: Department W had 2,580 units, one-third completed at the beginning of the period; 12,000 units were…

A: Total number of units is the total of all the units on which cost has been incurred during the…

Q: Information on equivalent production quantities and unit equivalent product costs of the production…

A: Equivalent units cost is already given for Material , Labour and Overhead. Total Equivalent unit…

Q: Given the following data, calculate product cost per unit under absorption costing. $ 17.00 per unit…

A: Absorption costing refers to the costing method which considers all the costs which are linked or…

Q: Cumudeatmbus Ltd operales a standard costing system. The standard direct materials to produce 600…

A: a. Material mix Standard mix in percentage Type Standard mix In percentage Calculation E 25%…

Q: Nikel Company uses FIFO process costing. Data are as follows: Beginning inventory 40% complete Units…

A: Equivalent Units of production is the term applied to work in progress inventory at the end of each…

Q: using the average method what is the total equivalent units of production under process 3 for…

A: Equivalent units of products concept came in to existence when some units are not fully completed at…

Q: The costs incurred in the manufacture of 75,000 units of a product are: Direct materials $80,000…

A: Variable Cost Per Unit: Variable cost per unit includes the cost of production for each unit…

Q: The following information pertains to a manufacturing company which uses weighted average method…

A: Solution: Equivalent units are the units which represents percentage of work done on a particular…

Q: The Mixing Department's output during the period consists of 20,000 units completed and transferred…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Concept explainers

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

Question 31

If 24,000 units are 75% complete with respect to direct materials, then the equivalent units of production for direct materials are
The weighted - average method is used.
O A. 30,000 units
O B. 6,000 units
O C. 18,000 units
O D. 24,000 units

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!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions

A company has 100 units in ending work in process that are 40% complete after transferring out 750 Units. If the cost per unit is $5 for materials and $2.50 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method?
The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units before ending the month with 3.000 u flits that were 100% complete with regard to materials and 80% complete with regard to conversion costs. The cost per unit of material is $5.45, and the cost per unit for conversion is $6.20 per unit, Using the weighted-average method, prepare the companys process cost summary for the month.
The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
A company has 1,500 units in ending work in process that are 30% complete after transferring out 10,000 units. All materials are added at the beginning of the process. If the cost per unit is $4 for materials and $7 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method?
Cool Pool has these costs associated with production of 20,000 units of accessory products: direct materials, $70; direct labor, $110; variable manufacturing overhead, $45; total fixed manufacturing overhead, $800,000. What is the cost per unit under both the variable and absorption methods?
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
The Converting Department of Tender Soft Tissue Company uses the weighted average method and had 1,900 units in work in process that were 60% complete at the beginning of the period. During the period, 15,800 units were completed and transferred to the Packing Department. There were 1,200 units in process that were 30% complete at the end of the period. a. Determine the number of whole units to be accounted for and to be assigned costs for the period. b. Determine the number of equivalent units of production for the period. Assume that direct materials are placed in process during production.
The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
Prepare the journal entry to record the transfer of 3,000 units from the packaging department to finished goods if the material cost per unit is $4 and the conversion cost per unit is $5.50.
Crafts 4 All has these costs associated with production of 12,000 units of accessory products: direct materials, $19; direct labor, $30; variable manufacturing overhead, $15; total fixed manufacturing overhead, $450,000. What is the cost per unit under both the variable and absorption methods?
Given the following information, determine the equivalent units of ending work in process for materials and conversion under the weighted-average method: beginning inventory of 2,500 units is 100% complete with regard to materials and 60% complete with regard to conversion 18,000 units were started during the period 17,500 units were completed and transferred ending inventory is 100% complete with materials and 65% complete with conversion