Equivalent Units of Production and Related CostsThe charges to Work in Process-Assemblyfor a period, together with information concerningproduction, are as follows. All direct materials are placedin process at the beginning of production.Bal., 4,000 units, 65% completedDirect materials, 94,000 units @$1.90Direct laborFactory overheadBal., ? units, 80% completedDetermine the following:Inventory in process, beginningStarted and completedTransferred to finished goodsInventory in process, endingWork in Process-Assembly Departmenta. The number of units in work in process inventory atthe end of the period.unitsTotal unitsb. Equivalent units of production for direct materialsand conversion. If an amount is zero or a blank, enter in"0".Department15,400 To Finished Goods, 92,000 units178,600217,00084,440Work in Process-Assembly DepartmentEquivalent Units of Production for DirectMaterials and Conversion CostsDirect MaterialsConversionc. Costs per equivalent unit for direct materials andconversion. If required, round your answers to thenearest cent.Whole Equivalent Units Equivalent UnitsUnits Direct Materials ConversionCosts Per Equivalent Unitd. Cost of the units started and completed during theperiod.$

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Description: Equivalent Units of Production and Related CostsThe charges to Work in Process-Assemblyfor a period, together with information concerningproduction, are as follows. All direct materials are placedin process at the beginning of production.Bal., 4,000

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The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 4,000 units, 65% completed Direct materials, 94,000 units @ $1.90 Direct labor Factory overhead Bal., 2 units, 80% completed Determine the following: a. The number of units in work in process inventory at the end of the period. units 15,400 To Finished Goods, 92,000 units 178,600 b. Equivalent units of production for direct materials and conversion. If an amount is zero or a blank, enter in "0". Inventory in process, beginning Started and completed Transferred to finished goods Inventory in process, ending Total units 217,000 84,440 Work in Process-Assembly Department Equivalent Units of Production for Direct Materials and Conversion Costs Direct Materials Conversion c. Costs per equivalent unit for direct materials and conversion. If required, round your answers to the nearest cent. Whole Equivalent Units Equivalent Units Units Direct Materials Conversion Costs Per Equivalent Unit

The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 4,000 units, 65% completed Direct materials, 94,000 units @ $1.90 Direct labor Factory overhead Bal., 2 units, 80% completed Determine the following: a. The number of units in work in process inventory at the end of the period. units 15,400 To Finished Goods, 92,000 units 178,600 b. Equivalent units of production for direct materials and conversion. If an amount is zero or a blank, enter in "0". Inventory in process, beginning Started and completed Transferred to finished goods Inventory in process, ending Total units 217,000 84,440 Work in Process-Assembly Department Equivalent Units of Production for Direct Materials and Conversion Costs Direct Materials Conversion c. Costs per equivalent unit for direct materials and conversion. If required, round your answers to the nearest cent. Whole Equivalent Units Equivalent Units Units Direct Materials Conversion Costs Per Equivalent Unit

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 14E: Cost per equivalent unit The following information concerns production in the Forging Department for...

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K-Briggs Company uses the FIFO method to account for the costs of production. For Crushing, the first processing department, the following equivalent units schedule has been prepared: The cost per equivalent unit for the period was as follows: The cost of beginning work in process was direct materials, 40,000; conversion costs, 30,000. Required: 1. Determine the cost of ending work in process and the cost of goods transferred out. 2. Prepare a physical flow schedule.
During March, the following costs were charged to the manufacturing department: $14886 for materials; $14,656 for labor; and $13,820 for manufacturing overhead. The records show that 30,680 units were completed and transferred, while 2,400 remained in ending inventory. There were 33,080 equivalent units of material and 31,640 of conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work in process inventory?
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?
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 Converting Department of Worley Company had 2,400 units in work in process at the beginning of the period, which were 35% complete. During the period, 10,800 units were completed and transferred to the Packing Department. There were 1,900 units in process at the end of the period, which were 60% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs.
The standard cost summary for the most popular product of Phenom Products Co. is shown as follows, together with production and cost data for the period. One gallon each of liquid lead and varnish are added at the start of processing. The balance of the materials is added when the process is two-thirds complete. Labor and overhead are added evenly throughout the process. There were no units in process at the beginning of the month. Required: Calculate equivalent production for materials, labor, and overhead. (Be sure to refer to the standard cost summary to help determine the percentage of materials in ending work in process.) Calculate materials and labor variances and indicate whether they are favorable or unfavorable, using the diagram format shown in Figure 8-4. Determine the cost of materials and labor in the work in process account at the end of the month.
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.
Davis Co. uses backflush costing to account for its manufacturing costs. The trigger points are the purchase of materials, the completion of goods, and the sale of goods. Prepare journal entries to account for the following: a. Purchased raw materials, on account, 70,000. b. Requisitioned raw materials to production, 70,000. c. Distributed direct labor costs, 15,000. d. Factory overhead costs incurred, 45,000. (Use Various Credits for the account in the credit part of the entry.) e. Completed all of the production started. f. Sold the completed production for 195,000, on account. (Hint: Use a single account for raw materials and work in process.)
Kenkel, Ltd. uses backflush costing to account for its manufacturing costs. The trigger points are the purchase of materials, the completion of goods, and the sale of goods. Prepare journal entries to account for the following: a. Purchased raw materials, on account, 80,000. b. Requisitioned raw materials to production, 80,000. c. Distributed direct labor costs, 10,000. d. Factory overhead costs incurred, 60,000. (Use Various Credits for the account in the credit part of the entry.) e. Completed all of the production started. f. Sold the completed production for 225,000, on account.
Conte Chemical Co. uses the weighted average cost method. All materials are added at the start of the production process. Labor and overhead are added evenly at the same rate throughout the process. Contes records indicate the following data for May: Ending work in process, on May 31, is 75% completed as to labor and factory overhead. Make the following calculations: a. Equivalent units for direct materials b. Equivalent units for labor and overhead (Hint: first determine the ending units in work in process.)
The records of Burris Inc. reflect the following data: Work in process, beginning of month2,000 units one-half completed at a cost of 1,250 for materials, 675 for labor, and 950 for overhead. Production costs for the monthmaterials, 99,150; labor, 54,925; factory overhead, 75,050. Units completed and transferred to stock38,500. Work in process, end of month3,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost.
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