UnitsBeginning inventoryStarted during the month20,00075,000Total units to account for?Completed and transferred outEnding work in process70,000Total units accounted forWork in process completion %100%25%Material UnitsConversion UnitsTotalCompleted and transferred outEnding work in process70,00070,00070,000??Total units accounted for?Costs to account forMaterialsConversionTotal$ 3,500$19,500Beginning work in processTransferred in$16,000Incurred during the period$25,000$45,000$70,000Total costs to account for?Equivalent unitsCost per equivalent unit for department??Transferred-out costsEnd work in process: materialsEnd work in process: conversionEnd work in process: total??Total costs accounted for?

Name: UnitsBeginning inventoryStarted during the month20,00075,000Total uni
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Description: UnitsBeginning inventoryStarted during the month20,00075,000Total units to account for?Completed and transferred outEnding work in process70,000Total units accounted forWork in process completion %100%25%Material UnitsConversion UnitsTotalCompleted

The equivalent units are calculated on the basis of percentage of the work completed during the…

Business

Accounting

Units Beginning inventory Started during the month Total units to account for Completed and transferred out Ending work in process 20,000 75,000 70,000 ? Total units accounted for ? Work in process completion % 100% 25% Material Units Conversion Units Total Completed and transferred out Ending work in process 70,000 70,000 70,000 ? ? ? Total units accounted for ? Costs to account for Beginning work in process Transferred in ncurred during the period Materials Conversion Total $ 3,500 $16,000 $19,500 $25,000 $45,000 $70,000 Total costs to account for ? ? ? Equivalent units Cost per equivalent unit for department ? ? Transferred-out costs End work in process: materials End work in process: conversion End work in process: total Total costs accounted for ? ? ? ? ?

Units Beginning inventory Started during the month Total units to account for Completed and transferred out Ending work in process 20,000 75,000 70,000 ? Total units accounted for ? Work in process completion % 100% 25% Material Units Conversion Units Total Completed and transferred out Ending work in process 70,000 70,000 70,000 ? ? ? Total units accounted for ? Costs to account for Beginning work in process Transferred in ncurred during the period Materials Conversion Total $ 3,500 $16,000 $19,500 $25,000 $45,000 $70,000 Total costs to account for ? ? ? Equivalent units Cost per equivalent unit for department ? ? Transferred-out costs End work in process: materials End work in process: conversion End work in process: total Total costs accounted for ? ? ? ? ?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 14PB: Rexar had 1,000 units in beginning inventory before starting 9.500 units and completing 8,000 units....

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Similar questions

Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the rate of 100% of the direct labor cost. What is the value of the Inventory transferred to the next department if beginning inventory was 2,000 units; 9,000 units were started; and 1.000 units were in ending inventory? A. $1,000 B. $13,000 C. $130.000 D. $20.000
Rexar had 1,000 units in beginning inventory before starting 9.500 units and completing 8,000 units. The beginning work in process inventory consisted of $5,000 in materials and $8,500 in conversion costs before $16,000 of materials and $18,500 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 40% complete with regard to conversion costs. Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department.
Production data show 15,200 units were transferred out of a stage of production and 3,500 units remained in ending WIP inventory that was 100% complete to material and 60% complete to conversion. The unit material cost is $9 for material and $4 for conversion. What is the amount of inventory transferred out and remaining in ending work in process inventory?
Refer to the data in Problem 6.31. Assume that the FIFO method is used. Required: 1. Prepare a physical flow schedule. 2. Calculate equivalent units of production for direct materials and conversion costs. 3. Compute unit cost. Round to three decimal places. 4. Calculate the cost of goods transferred to Painting at the end of the month. Calculate the cost of ending inventory.
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Loanstar had 100 units in beginning inventory before starting 950 units and completing 800 units. The beginning work in process inventory consisted of $2,000 in materials and $500O in conversion costs before $8.500 of materials and $11,200 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 40% complete with regard to conversion costs. Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department.
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