Units in process at May 1 Beginning units complete with respect to material Beginning units complete with respect to conversion costs Units started during May Units in process at May 31 Ending units complete with respect to material Ending units complete with respect to conversion costs Cost Information Beginning Work in Process Direct material $4,000 Direct labor 200 Overhead 300 Total $4,500 Equivalent units, ending WIP Total Cost per equivalent unit Material Answer a Answer b Answer e Answer h 11,000 Use the information provided to fill in the blanks associated with the Cost per Equivalent Unit Calculation section of the company's Production Cost Report. Cost per Equivalent Unit Calculation Cost Beginning WIP Cost incurred during May Total Units Units completed 100% 60% Answerf Answer i 105,000 5,100 100% 70% Costs Added in May $ 76,040.00 8,957.60 10,002.30 $ 94,999.90 Labor Overhead Total Answer c Answer d Answer g Answerj Answer k

Units in process at May 1 Beginning units complete with respect to material Beginning units complete with respect to conversion costs Units started during May Units in process at May 31 Ending units complete with respect to material Ending units complete with respect to conversion costs Cost Information Beginning Work in Process Direct material $4,000 Direct labor 200 Overhead 300 Total $4,500 Equivalent units, ending WIP Total Cost per equivalent unit Material Answer a Answer b Answer e Answer h 11,000 Use the information provided to fill in the blanks associated with the Cost per Equivalent Unit Calculation section of the company's Production Cost Report. Cost per Equivalent Unit Calculation Cost Beginning WIP Cost incurred during May Total Units Units completed 100% 60% Answerf Answer i 105,000 5,100 100% 70% Costs Added in May $ 76,040.00 8,957.60 10,002.30 $ 94,999.90 Labor Overhead Total Answer c Answer d Answer g Answerj Answer k

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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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Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September: a. All materials are added at the beginning of the process. b. Beginning work in process had 80,000 units, 30 percent complete with respect to conversion costs. c. Ending work in process had 17,000 units, 25 percent complete with respect to conversion costs. d. Started in process, 95,000 units. Required: 1. Prepare a physical flow schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method.
Cost of production report The debits to Work in ProcessRoasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: All direct materials are placed in process at the beginning of production. A. Prepare a cost of production report, presenting the following computations: 1. Direct materials and conversion equivalent units of production for August 2. Direct materials and conversion costs per equivalent unit for August 3. Cost of goods finished during August 4. Cost of work in process at August 31 B. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July).
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.
Transferred-In Cost Goldings finishing department had the following data for July: Required: 1. Calculate unit costs for the following categories: transferred-in, materials, and conversion. 2. Calculate total unit cost.
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.
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Production information shows these costs and units for the smoothing department in August. All materials are added at the beginning of the period. The ending work in process is 30% complete as to conversion. What is the value of the inventory transferred to finished goods and the value of the WIP inventory at the end of the month?
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.)
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