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Moravia Company processes and packages cream cheese. The following data have been compiled for the month of April. Conversion activity occurs uniformly throughout the production process. Work in process, April 1–10,000 units: $ 22,000 Direct material: 100% complete, cost of . Conversion: 20% complete, cost of 4,500 .... $ 26,500 Balance in work in process, April 1 . Units started during April ..... 100,000 Units completed during April and transferred out to finished-goods inventory 80,000 Work in process, April 30 Direct material: 100% complete Conversion: 33%% complete Costs incurred during April: $198,000 Direct material Conversion costs: Direct labor .... $ 52,800 Applied manufacturing overhead 105,600 Total conversion costs $158,400 Required: Prepare schedules to accomplish each of the following process-costing steps for the month of April. Use the FIFO method of process costing. 1. Analysis of physical flow of units. Calculation of equivalent units. 2. Computation of unit costs. Analysis of total costs. 3. 4.

Moravia Company processes and packages cream cheese. The following data have been compiled for the month of April. Conversion activity occurs uniformly throughout the production process. Work in process, April 1–10,000 units: $ 22,000 Direct material: 100% complete, cost of . Conversion: 20% complete, cost of 4,500 .... $ 26,500 Balance in work in process, April 1 . Units started during April ..... 100,000 Units completed during April and transferred out to finished-goods inventory 80,000 Work in process, April 30 Direct material: 100% complete Conversion: 33%% complete Costs incurred during April: $198,000 Direct material Conversion costs: Direct labor .... $ 52,800 Applied manufacturing overhead 105,600 Total conversion costs $158,400 Required: Prepare schedules to accomplish each of the following process-costing steps for the month of April. Use the FIFO method of process costing. 1. Analysis of physical flow of units. Calculation of equivalent units. 2. Computation of unit costs. Analysis of total costs. 3. 4.

Cornerstones of Cost Management (Cornerstones Series)
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 16E: Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The...
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Moravia Company processes and packages cream cheese. The following data have been compiled for the month of April. Conversion activity occurs uniformly throughout the production process. Work in process, April 1–10,000 units: $ 22,000 Direct material: 100% complete, cost of . Conversion: 20% complete, cost of 4,500 .... $ 26,500 Balance in work in process, April 1 . Units started during April ..... 100,000 Units completed during April and transferred out to finished-goods inventory 80,000 Work in process, April 30 Direct material: 100% complete Conversion: 33%% complete Costs incurred during April: $198,000 Direct material Conversion costs: Direct labor .... $ 52,800 Applied manufacturing overhead 105,600 Total conversion costs $158,400 Required: Prepare schedules to accomplish each of the following process-costing steps for the month of April. Use the FIFO method of process costing. 1. Analysis of physical flow of units. Calculation of equivalent units. 2. Computation of unit costs. Analysis of total costs. 3. 4.
Transcribed Image Text:Moravia Company processes and packages cream cheese. The following data have been compiled for the month of April. Conversion activity occurs uniformly throughout the production process. Work in process, April 1–10,000 units: $ 22,000 Direct material: 100% complete, cost of . Conversion: 20% complete, cost of 4,500 .... $ 26,500 Balance in work in process, April 1 . Units started during April ..... 100,000 Units completed during April and transferred out to finished-goods inventory 80,000 Work in process, April 30 Direct material: 100% complete Conversion: 33%% complete Costs incurred during April: $198,000 Direct material Conversion costs: Direct labor .... $ 52,800 Applied manufacturing overhead 105,600 Total conversion costs $158,400 Required: Prepare schedules to accomplish each of the following process-costing steps for the month of April. Use the FIFO method of process costing. 1. Analysis of physical flow of units. Calculation of equivalent units. 2. Computation of unit costs. Analysis of total costs. 3. 4.
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