UnitsMaterialsConversion75,00055, 00050 %Work in process inventory, May 1Work in process inventory, May 31Materials cost in work in process inventory, May 1Conversion cost in work in process inventory, May 1Units started into productionUnits transferred to the next production departmentMaterials cost added during MayConversion cost added during May100 %100 %30 %$59, 400$ 17,400252, 000272,000$ 126, 990$ 250, 905,Required:1. Calculate the first production department's equivalent units of production for materials and conversion for May.2. Compute the first production department's cost per equivalent unit for materials and conversion for May.3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for4. Compute the first production department's cost of the units transferred to the next production department for materials, convand in total for May.Complete this question by entering your answers in the tabs below.Required 1Required 2Required 3Required 4Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total forMay. (Round your intermediate calculations to 2 decimal places.)MaterialsConversionTotalCost of ending work in process inventory

Note; As per our guidelines, only the first three sub-parts will be answered. Reconcile the number…

Answered: Work in process inventory, May 1 Work…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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Similar questions

Beginning inventory and direct material cost added during the month total $55,000. What is the value of the ending work in process inventory if beginning inventory was 2,000 units; 9,000 units were started; and 1,000 units were in ending inventory? $1,000 $5,000 $50,000 $55,000
SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials. Work in process, January 1 77,000 Materials inventory, January 1 31,000 Materials purchases 35,000 Materials inventory, December 31 26,000 Direct labor 48,000 Overhead 20,000 Work in process, December 31 62,000
MCQs Beginning work in process inventory: Units in beginning work in process inventory 600 Materials costs $ 7,000 Conversion costs $ 2,300 Percent complete with respect to materials 55 % Percent complete with respect to conversion 25 % Units started into production during the month 6,500 Units transferred to the next department during the month 5,700 Materials costs added during the month $ 110,100 Conversion costs added during the month $ 83,200 Ending work in process inventory: Units in ending work in process inventory 1,400 Percent complete with respect to materials 70 % Percent complete with respect to conversion 55 % The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: $23,674 $30,130 $27,355 $43,043
ssume the following information: Milling Department Materials Conversion Total Cost of beginning work in process inventory $ 10,000 $ 15,000 $ 25,000 Costs added during the period 291,600 394,500 686,100 Total cost $ 301,600 $ 409,500 $ 711,100 Assume the equivalent units of production for materials and conversion, when using the weighted-average method, are 5,200 units and 5,000 units, respectively. If the equivalent units in ending work in process inventory for materials and conversion are 400 units and 200 units, respectively, then what is the total cost of ending work in process for the Milling Department?
Beginning work in process inventory: Units in beginning work in process inventory 700 Materials costs $ 11,500 Conversion costs $ 22,200 Percent complete with respect to materials 75% Percent complete with respect to conversion 65% Units started into production during the month 8,600 Units transferred to the next department during the month 7,800 Materials costs added during the month $ 159,300 Conversion costs added during the month $ 348,500 Ending work in process inventory: Units in ending work in process inventory 1,500 Percent complete with respect to materials 65% Percent complete with respect to conversion 50% What are the equivalent units for conversion costs for the month in the first processing department? 750 9,300 8,095 7,100
The related data of Minorka Company's Assembly department: In Units Beginning Work in Process Inventory (BWIP) 10,000 (45% complete as to conversion) Started 120,000 Ending Work in Process Inventory (EWIP) 8,200 (80% complete as to conversion)…
The related data of Minorka Company's Assembly department: In Units Beginning Work in Process Inventory (BWIP) 10,000 (45% complete as to conversion) Started 120,000 Ending Work in Process Inventory (EWIP) 8,200 (80% complete as to conversion)…
Consider the following dataWork in process inventory December 317000Work in process inventory January 19000Purchases of raw material63000Raw Material inventory December 313000Raw Material inventory January 19000Direct Labor12000Total manufacturing overhead6000Calculate the cost of goods manufactured

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