a. Total cost of units in process at the end in Department 1b. Total cost of units transferred out to store room in Department 2c. Total cost of units transferred out in Department 1d. Total cost of units in process at the end in Department 2 The XYZ Corporation has two departments in its operations, namely Department I and II.Inventories, cost, and production data for the month of June 2008 are as follows:QuantityDepartment IIn process, beginningDepartment II5,0006,000Work to be done1/32/5Started in process44,00040,000?Transferred out37,000In process endStage of completion?3/57/8CostIn process, beginningP5, 200P10,685Added this monthMaterials19,80034,799Labor14,2002,60027,47018,450OverheadConversion cost are applied evenly in all departments. Materials are applied as follows:Department 1- all at the start of the process: Department Il- 30% at the start of the process, 40%when process is one half completed, 30% at the end of the process.

What is meant by Process Costing? Process costing is a method of cost accounting, which is used…

The XYZ Corporation has two departments in its operations, namely Department I and II. Inventories, cost, and production data for the month of June 2008 are as follows: Quantity In process, beginning Department I 6,000 Department II 5,000 Work to be done 1/3 2/5 Started in process 44,000 Transferred out 40,000 37,000 ? In process end Stage of completion ? 3/5 7/8 Cost In process, beginning P5, 200 P10,685 Added this month Materials 19,800 34,799 Labor 14,200 2,600 27,470 18,450 Overhead Conversion cost are applied evenly in all departments. Materials are applied as follows: Department 1- all at the start of the process: Department IIl- 30% at the start of the process, 40% when process is one half completed, 30% at the end of the process.

The XYZ Corporation has two departments in its operations, namely Department I and II. Inventories, cost, and production data for the month of June 2008 are as follows: Quantity In process, beginning Department I 6,000 Department II 5,000 Work to be done 1/3 2/5 Started in process 44,000 Transferred out 40,000 37,000 ? In process end Stage of completion ? 3/5 7/8 Cost In process, beginning P5, 200 P10,685 Added this month Materials 19,800 34,799 Labor 14,200 2,600 27,470 18,450 Overhead Conversion cost are applied evenly in all departments. Materials are applied as follows: Department 1- all at the start of the process: Department IIl- 30% at the start of the process, 40% when process is one half completed, 30% at the end of the process.

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 6E: Data for the two departments of Kimble Pierce Company for June of the current fiscal year are as...

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Using the same data found in Exercise 6.22, assume the company uses the FIFO method. Required: Prepare a schedule of equivalent units, and compute the unit cost for the month of December. 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.
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.
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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. Using the data in E5-9, prepare a statement of cost of goods manufactured for the month ended January 31, 2016, assuming that no further work was done in Assembly during January.
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.
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