what is the total costs transferred from Department B to Department C? P1,821,600 P1,031,900 P1,868,520 P1,782,000
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- Production in progress on June 1st for Company A was 100000 units (Materials 60% complete and conversion 50% complete). In June 500,000 new units entered production and at the end of the month 420,000 units were transferred out of the section as completed. At the end of the month production in progress was 50% complete both in terms of materials and in terms of conversion costs. Based on the weighted method, the equivalent units for conversion costs are: 510000 480000 90000 420000A product passes through three procedures A, B, C .The Normal Wastage of each process is as follows: Process A 5%,Process B 6% and Process C 7%.Wastage of Process A was sold at $1 per unit; that of process B at 1.50 per unit; Process c at $2 per unit.15,000 units were issued to Process A in the beginning of January2017 at a cost of $2.50 per unit. The other expenses were as follows: Actual output was: Process A 13250 Units Process B 13000UnitsProcess C 11250UnitsRequired: Prepare Process Account A, B & CWork in Process, August 31 (50% complete as to conversion cost) 175,000 Trasferred to next department 275,000 Started in August 375,000 Work in Process, August 1 (60% complete as to conversion cost) 150,000 Lost in Production (normal) 75,000 Under FIFO, what are the EUP for conversion?
- Process Costing System Questions: Q1. ABC Company produces one product through two stages of productions; the manufacturing and the assembly. Two DM are added during the manufacturing stage; DM A is added at the beginning of the process, and DM B is added at the 75% of completion. Conversion cost is added gradually. The following is data for cost and production during 2020: Data Units DM A DM B CC Beginning inventory (60%) 20,000 $160,000 $0 $60,000 Added units 80,000 $680,000 $300,000 $435,750 Ending Inventory (80%) 25,000 Required: Prepare the stage report for the manufacturing stage using, a) WA, and B) FIFO Journalize the required entry to transfer the completed units and prepare the ledger of the manufacturing stage. Q2. ABC Company is a manufacturing company that produces biscuits covered with chocolates. The company has two stages; manufacturing stage where they add the biscuits at the beginning of the production.…Work in Process, Aug 31 (50% complete as to conversion cost) 175,000 Transferred to next department 275,000 Started in August 375,000 Work in Process, Aug 1 (60% complete as to conversion cost) 150,000 Lost in production (normal) 75,000 Under weighted average, what are the eul for conversion?Assume the following information: Milling Department Units Percent Complete Materials Conversion Beginning work in process inventory 200 40% 30% Units started into production during March 6,200 Units completed during the period and transferred to the next department 5,800 100% 100% Ending work in process inventory 600 70% 60% Milling Department Materials Conversion Cost of beginning work in process inventory $ 10,000 $ 15,000 Costs added during the period 284,000 385,000 Total cost $ 294,000 $ 400,000 Using the weighted-average method, the cost per equivalent unit for materials is closest to
- Materials are added at the start of the process in Department B. Units received from Department A cost P11.10 and in Department B, unit costs are P1 for materials and P1.22 for conversion cost. Quantity Data include: In process, July 1 at 8,000 units, 3/4 done; Received from Dept. A is 50,000 units; In process, July 31 is 10,000 units, 1/5 done. Normal loss at the end is 3,000 units. Estimated recovery from spoiled units is P3,000. What should be the accumulated cost of the July 31 work in process? a. 126,240 b. 125, 440 c. 115,440 d. answer not givenSunset Inc. Plastics Company uses process costing and provided the following information for 2020: Units Percent Complete Percent Complete Direct Materials Conversion Costs Work-in-process at January 1 18,000 30% 70% Units started during the year 190,000 Work-in-process at December 31 30,000 80% 30% The cost of the beginning work-in-process included $103,750 for direct materials used and $54,380 for direct labor. Production costs during year were $603,250 for direct materials and $110,180 for direct labor. The company applies manufacturing overhead using direct labor costs. The manufacturing overhead rate for all years is 50% of direct labor. The cost transferred to finished goods inventory is: Multiple Choice $ 775,260 $ 862,600 $ 1,089,000 $ 857,960 Please don't provide answer in image format thank youAssume the following information: Milling Department Units Percent Complete Materials Conversion Beginning work in process inventory 200 40% 30% Units started into production during March 6,200 Units completed during the period and transferred to the next department 5,800 100% 100% Ending work in process inventory 600 70% 60% Milling Department Materials Conversion Cost of beginning work in process inventory $ 10,000 $ 15,000 Costs added during the period 292,000 385,000 Total cost $ 302,000 $ 400,000 Using the weighted-average method, the total cost of the ending work in process inventory with respect to materials is closest
- Assume the following information: Milling Department Units Percent Complete Materials Conversion Beginning work in process inventory 200 40% 30% Units started into production during March 6,200 Units completed during the period and transferred to the next department 5,800 100% 100% Ending work in process inventory 600 70% 60% Milling Department Materials Conversion Cost of beginning work in process inventory $ 10,000 $ 15,000 Costs added during the period 292,000 385,000 Total cost $ 302,000 $ 400,000 Using the weighted-average method, the total cost of the units completed during the period and transferred out to the next department with respect to materials is closest to:Discussion QuestionThe table below shows monthly data collected on production costs and on the number of unitsproduced over a twelve month period.Month Total ProductionCostsLevel of Activity(Units Produced)July $230,000 3,500August 250,000 3,750September 260,000 3,800October 220,000 3,400November 340,000 5,800December 330,000 5,500January 200,000 2,900February 210,000 3,300March 240,000 3,600April 380,000 5,900May 350,000 5,600June 290,000 5,000a) Determine the variable cost per unit and the fixed cost using the high-low method.b) What is the equation of the total mixed cost function?c) Based on the High-Low method, what is the total production costs if 6,500 units areproduced?d) Prepare the scatter diagram and insert the trendline or line of best-fit. Use a scale of 2cm to represent 1,000 units on the x-axis & 2 cm to represent $50,000 on the yaxis.e) Using the line of best-fit, determine the company’s fixed cost per month and the variablecost per unit. (Use 0 & 5,000…Dmahirap company adds all materials at the beginning of the process in the first department. Conversion costs were 75% complete as to 8,000 units in WIP.beg and 50% complete as to 6,000 units in WIP,end. During the month, 12,000 units were completed and transferred to the next department. Analysis of the costs relating to production for October follows: Materials Conversion Cost WIP.beg Costs added this month 15,600 P9,600 P4,800 14,400 How much is the cost of WIP, end using FIFO