Minty Inc. has one production process and produces only one product. During the month of June, the company started 25,600 units. The company began June with 14,400 units in work in process, which were 35% complete with respect to conversion costs. At the end of June, the company had 12,300 units in ending work in process, which were 40% complete with respect to conversion costs. What was the number of equivalent whole units for conversion costs in June, assuming the company uses the weighted average method of process costing? а. 32,620 b. 40,000 c. 27,700 d. 27,580 е. 23,260 f. 35,080 g. 30,520 h. None of the above

Minty Inc. has one production process and produces only one product. During the month of June, the company started 25,600 units. The company began June with 14,400 units in work in process, which were 35% complete with respect to conversion costs. At the end of June, the company had 12,300 units in ending work in process, which were 40% complete with respect to conversion costs. What was the number of equivalent whole units for conversion costs in June, assuming the company uses the weighted average method of process costing? а. 32,620 b. 40,000 c. 27,700 d. 27,580 е. 23,260 f. 35,080 g. 30,520 h. None of the above

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Description: Minty Inc. has one production process and produces only one product.During the month of June, the company started 25,600 units. The company began Junewith 14,400 units in work in process, which were 35% complete with respect toconversion costs. At t

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 27E: During the month of June, the mixing department produced and transferred out 3,500 units. Ending...

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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.
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AAA Appliances Inc. has two production departments. The nature of the process is such that no units remain in process in Finishing at the end of the period. At the beginning of the period, 10,000 units with a cost of 30,000 were transferred from Assembly to Finishing. Finishing incurred costs of 8,800 for materials, 7,200 for labor, and 8,800 for factory overhead, and finished 10,000 units during the month. a. Determine the unit cost for the month in Finishing. b. Determine the unit cost of the products transferred to finished goods.
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Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was 40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments. The second department (Polishing) had the following physical flow schedule for December: Costs in beginning work in process for the Polishing Department were direct materials, 5,000; conversion costs, 6,000; and transferred in, 8,000. Costs added during the month: direct materials, 32,000; conversion costs, 50,000; and transferred in, 40,000. Required: 1. Assuming the use of the weighted average method, prepare a schedule of equivalent units. 2. Compute the unit cost for the month.
Chavez Concrete Inc. has two production departments. Blending had 1,000 units in process at the beginning of the period, two-fifths complete. During the period 7,800 units were received from Mixing, 8,200 units were transferred to the finished goods storeroom, and 600 units were in process at the end of the period, 1/3 complete. The cost of the beginning work in process was: The costs during the month were: 1. Using the data in E5-15, prepare a cost of production summary for the month ended January 31, 2016. 2. Prepare a journal entry to transfer the cost of the completed units from Blending to the finished goods storeroom.
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