Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this year's production: Units to Account For Units Materials Conversion Beginning work in process inventory 500 500 250 Started 21,500 Total units to accounted for 22,000 Ending inventory was 100% complete as to materials and 60% complete as to conversion, and the total materials cost is $60,720 and the total conversion cost is $37,944 Using the weighted-average method, what are the unit costs if the company transferred out 18,000 units? If required, round final answers to two decimal places. Cost per unit Materials Conversion $ Using the weighted-average method, what is the value of the inventory transferred out and the value of the ending WIP inventory? Inventory transferred out Ending WIP inventory

Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this year's production: Units to Account For Units Materials Conversion Beginning work in process inventory 500 500 250 Started 21,500 Total units to accounted for 22,000 Ending inventory was 100% complete as to materials and 60% complete as to conversion, and the total materials cost is $60,720 and the total conversion cost is $37,944 Using the weighted-average method, what are the unit costs if the company transferred out 18,000 units? If required, round final answers to two decimal places. Cost per unit Materials Conversion $ Using the weighted-average method, what is the value of the inventory transferred out and the value of the ending WIP inventory? Inventory transferred out Ending WIP inventory

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 3PA: Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired...

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Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this year’s production: Units to Account For Units Materials Conversion Beginning work in process inventory 500 500 250 Started 21,500 Total units to accounted for 22,000 Ending inventory was 100% complete as to materials and 80% complete as to conversion, and the total materials cost is $60,500 and the total conversion cost is $38,010. Using the weighted-average method, what are the unit costs if the company transferred out 17,000 units? If required, round final answers to two decimal places. Costper unit Materials $fill in the blank 1 Conversion $fill in the blank 2 Using the weighted-average method, what is the value of the inventory transferred out and the value of the ending WIP inventory? Inventory transferred out $fill in the blank 3…
eBook Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 20% complete with regard to conversion costs. Costs to Account for Units to Account for Beginning inventory: materials $5,000 Beginning work in process 3,000 Beginning inventory: conversion 1,100 Units started into production 85,000 Direct material 25,620 Transferred out 83,000 Direct labor 35,000 Applied overhead 12,500 Transferred-in materials 8,100 Transferred-in conversion 10,200 Total costs to account for $97,520 Enter all amounts as positive values. If required round "Cost per unit" answers to two decimal places. Production Report Completed and transferred out fill in the blank 1 Ending work in process fill in the blank 2 Total units to account for fill in the blank 3 Work in process completion percent 100% 20% Material Units…
eBook Show Me How Question Content Area Equivalent Units of Conversion Costs The Rolling Department of Kraus Steel Company had 7,943 tons in beginning work in process inventory (20% complete) on October 1. During October, 61,100 tons were completed. The ending work in process inventory on October 31 was 5,499 tons (20% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.fill in the blank 1 units
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eBook Question Content Area Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 20% complete with regard to conversion costs. Costs to Account for Units to Account for Beginning inventory: materials $5,000 Beginning work in process 3,500 Beginning inventory: conversion 900 Units started into production 85,000 Direct material 27,810 Transferred out 84,500 Direct labor 44,540 Applied overhead 12,500 Transferred-in materials 7,900 Transferred-in conversion 10,300 Total costs to account for $108,950 Enter all amounts as positive values. If required round "Cost per unit" answers to two decimal places. Production Report Completed and transferred out fill in the blank 1 Ending work in process fill in the blank 2 Total units to account for fill in the blank 3 Work in process completion percent 100% 20%…
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Samantha's Office Supplies manufactures desk organizers in its Processing Department. Direct materials are included at the inception of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Inspection takes place as units are completed. After inspection, some units are spoiled due to undetectable material defects. Normal spoiled units generally constitute 4% of the good units. Data provided for February 2020 are as follows:WIP, beginning inventory 2/1/2020 51,000 units Direct materials (100% complete) Conversion costs (60% complete)Started during February 170,500 unitsCompleted and transferred out 180,100 unitsWIP, ending inventory 2/28/2020 26,600 units Direct materials (100% complete) Conversion costs (25% complete)Costs: WIP, beginning inventory: Direct materials…