Time left 0:21:5 Simone Company had no beginning work in process. During the period, 15700 units were completed, and there were 1200 units of ending work in process. How many units were started into production? O a. 780,000 O b. 550,000 O c. 320,000 O d. 1,970,000
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- The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units one-fourth completed at a cost of 2,500 for materials, 1,400 for labor, and 1,800 for overhead. Production costs for the monthmaterials, 130,000; labor, 70,000; and factory overhead, 82,000. Units completed and transferred to stock45,000. Work in process, end of month5,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost. (Round unit costs to three decimal places.)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.A production department within a company received materials of $7,000 and conversion costs of $5,000 from the prior department. It added material of $78400 and conversion costs of $47000. The equivalent units are 5,000 for material and 4,000 for conversion. What is the unit cost for materials and conversion?
- Waterway Company had no beginning work in process. During the period, 17500 units were completed, and there were 1140 units of ending work in process. How many units were started into production? 18640. 1140. 16360. 17500.Crane Company had no beginning work in process. During the period, 16400 units were completed, and there were 1290 units of ending work in process. How many units were started into production? 16400. 1290. 17690. 15110.INFORMATIONWaterloo Ltd uses two processes to manufacture desks. The following details are applicable to Process 2 forMarch 2022:Details in connection with costs:RIncomplete work (opening): 1 440 000Costs of previous process 1 134 000Direct materials 198 000Conversion costs 108 000Costs incurred during March 2022: 3 096 000Transferred from previous process 2 034 000Direct materials 378 000Conversion costs 684 000 4 536 000 Production detailsUnitsUnits of incomplete work…
- INFORMATIONWaterloo Ltd uses two processes to manufacture desks. The following details are applicable to Process 2 forMarch 2022:Details in connection with costs:RIncomplete work (opening): 1 440 000Costs of previous process 1 134 000Direct materials 198 000Conversion costs 108 000Costs incurred during March 2022: 3 096 000Transferred from previous process 2 034 000Direct materials 378 000Conversion costs 684 000 4 536 000 Production detailsUnitsUnits of incomplete work…INFORMATIONWaterloo Ltd uses two processes to manufacture desks. The following details are applicable to Process 2 forMarch 2022:Details in connection with costs:RIncomplete work (opening): 1 440 000Costs of previous process 1 134 000Direct materials 198 000Conversion costs 108 000Costs incurred during March 2022: 3 096 000Transferred from previous process 2 034 000Direct materials 378 000Conversion costs 684 000 4 536 000 Production detailsUnitsUnits of incomplete work…The following data from the just completed year are taken from the accounting records of Kenton Company: Sales 975000, Direct labor cost 165000, Raw material purchases 229000, Selling expense 48750, Administrative expenses 146250, Manufacturing overhead applied to work in process 180000, Actual manufacturing overhead costs 175050, Inventories: Ending Beginning 18,000 $ Raw materials 17,500 20,000 s Work in process Finished goods 14,750 9,000 S 11,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement
- 1. The following information is available for Department A of B Manufacturing Corporation for themonth of July:WIP, July 1, 30% complete 5,000 unitsCosts: Materials P12,000.00 DL P6,000.00 OH P8,000.00 Started in production during July 20,000 unitsCost added: Materials P36,000.00 DL P16,000.00 OH P20,200.00 WIP, July 31, 20% complete 2,000 units Materials are added at the beginning of the process and the company uses the weighted averagemethod to account for cost. Required: A. Cost of production report assuming the company utilizes FIFO method of accounting costsB. Cost of WIP ending, under WAC. Cost of WIP ending, under FIFOD. Cost of goods transferred to finished goods, under WAE. Cost of goods started and completed in July, under FIFOMannassass Company manufactures chairs. The following information was given for the company:Units, beginning work in process0Units started20,000Units completed?Units, ending work in process5,000Cost of direct materials$440,000Cost of conversion$64,000Materials in the ending inventory were 100% complete, and conversion in the ending inventory was 20% complete. What are theequivalent units for materials and conversion, respectively?a. 20,000; 16,000b. 20,000; 20,000c. 15,000; 15,000d. 15,000; 14,000The ledger of American Company has the following work in process account. Work in Process—Painting 5/1 Balance 3,890 5/31 Transferred out ? 5/31 Materials 5,900 5/31 Labor 3,066 5/31 Overhead 2,480 5/31 Balance ? Production records show that there were 600 units in the beginning inventory, 30% complete, 1,800 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,740 and conversion costs of $1,150. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. How many units are in process at May 31? Work in process, May 31 enter a number of units in process at May 31 units What is the unit materials cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.) The unit materials cost for May $enter a dollar amount of the unit materials cost for May rounded to 2 decimal places What is the…
