EP FINANCIAL+MANAGERIAL ACCT. >CUSTOM<
5th Edition
ISBN: 9781323590287
Author: *ST.LEO UNIV.
Publisher: PEARSON C
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Chapter 18, Problem 1TIATC
1.
To determine
Calculate the conversion costs in the clarification department.
2.
To determine
Calculate the equivalent units of production for direct materials and conversion costs for the clarification department.
3.
To determine
Calculate the cost per equivalent unit for direct materials and conversion costs for clarification department.
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The Sedona Company is dedicated to making products that meet the needs of customers in a sustainable manner. Sedona is best known for its KLN water bottle, which is a BPA-free, dishwasher-safe, bubbly glass bottle in a soft silicone sleeve. The production process consists of three basic operations. In the first operation, the glass is formed by remelting cullets (broken or refuse glass). In the second operation, the glass is assembled with the silicone gasket and sleeve. The resulting product is finished in the final operation with the addition of the polypropylene cap. Consulting studies have indicated that of the total conversion costs required to complete a finished unit, the forming operation requires 60%, the assembly 30%, and the finishing 10%.
Cullets purchased $67,500
Silicone purchased $24,000
Polypropylene used $ 6,000
Total conversion costs incurred $68,850
Ending inventory, cullets $ 4,500
Ending inventory, silicone $ 3,000
Number of bottles completed and transferred…
The Sedona Company is dedicated to making products that meet the needs of customers in a sustainable manner. Sedona is best known for its KLN water bottle, which is a BPA-free, dishwasher-safe, bubbly glass bottle in a soft silicone sleeve. The production process consists of three basic operations. In the first operation, the glass is formed by remelting cullets (broken or refuse glass). In the second operation, the glass is assembled with the silicone gasket and sleeve. The resulting product is finished in the final operation with the addition of the polypropylene cap. Consulting studies have indicated that of the total conversion costs required to complete a finished unit, the forming operation requires 60%, the assembly 30%, and the finishing 10%.
Cullets purchased $67,500
Silicone purchased $24,000
Polypropylene used $ 6,000
Total conversion costs incurred $68,850
Ending inventory, cullets $ 4,500
Ending inventory, silicone $ 3,000
Number of bottles completed and transferred…
The Sedona Company is dedicated to making products that meet the needs of customers in a sustainable manner. Sedona is best known for its KLN water bottle, which is a BPA-free, dishwasher-safe, bubbly glass bottle in a soft silicone sleeve. The production process consists of three basic operations. In the first operation, the glass is formed by remelting cullets (broken or refuse glass). In the second operation, the glass is assembled with the silicone gasket and sleeve. The resulting product is finished in the final operation with the addition of the polypropylene cap. Consulting studies have indicated that of the total conversion costs required to complete a finished unit, the forming operation requires 60%, the assembly 30%, and the finishing 10%.
Cullets purchased $67,500
Silicone purchased $24,000
Polypropylene used $ 6,000
Total conversion costs incurred $68,850
Ending inventory, cullets $ 4,500
Ending inventory, silicone $ 3,000
Number of bottles completed and transferred…
Chapter 18 Solutions
EP FINANCIAL+MANAGERIAL ACCT. >CUSTOM<
Ch. 18 - Match each costing system characteristic to job...Ch. 18 - Prob. 2TICh. 18 - Prob. 3TICh. 18 - Match each costing system characteristic to job...Ch. 18 - Prob. 5TICh. 18 - The Cutting Department has 6,500 units in process...Ch. 18 - Prob. 7TICh. 18 - Prob. 8TICh. 18 - Prob. 9TICh. 18 - Prob. 10TI
Ch. 18 - Prob. 11TICh. 18 - Castillo Company has three departments: Mixing,...Ch. 18 - Prob. 13TICh. 18 - Prob. 14TICh. 18 - Prob. 15TICh. 18 - Prob. 16TICh. 18 - Prob. 17TICh. 18 - Which company is least likely to use a process...Ch. 18 - Which characteristic is the same in both job order...Ch. 18 - Conversion costs are a. direct materials plus...Ch. 18 - Burton Company uses the weighted-average method in...Ch. 18 - Burton Company uses the weighted-average method in...Ch. 18 - Burton Company uses the weighted-average method in...Ch. 18 - The Assembly Department had 4,500 units of...Ch. 18 - The Mixing Department incurred the following costs...Ch. 18 - Department 1 completed work on 500 units and...Ch. 18 - The manager of Gilbert Company used the production...Ch. 18 - Which statement is accurate concerning the FIFO...Ch. 18 - What types of companies use job order costing...Ch. 18 - What types of companies use process costing...Ch. 18 - What are the primary differences between job order...Ch. 18 - List ways in which job order costing systems are...Ch. 18 - Describe the flow of costs through a process...Ch. 18 - What are equivalent units of production?Ch. 18 - Why is the calculation of equivalent units of...Ch. 18 - What are conversion costs? Why do some companies...Ch. 18 - What is a production cost report?Ch. 18 - What are the four steps in preparing a production...Ch. 18 - Explain the terms to account for and accounted...Ch. 18 - If a company began the month with 50 units in...Ch. 18 - Most companies using process costing systems have...Ch. 18 - What is the weighted-average method for process...Ch. 18 - Prob. 15RQCh. 18 - What is the purpose of the Costs Accounted For...Ch. 18 - What are transferred in costs? When do they occur?Ch. 18 - Prob. 18RQCh. 18 - Department 1 is transferring units that cost...Ch. 18 - Prob. 20RQCh. 18 - Describe ways the production cost report can be...Ch. 18 - Prob. 22RQCh. 18 - Describe the three groups of units that must be...Ch. 18 - Prob. 24RQCh. 18 - Prob. 1SECh. 18 - The Jimenez Toy Company makes wooden toys. The...Ch. 18 - Prob. 3SECh. 18 - Cadwell manufactures cell phones. The conversion...Ch. 18 - Spring Fresh produces premium bottled water....Ch. 18 - Prob. 6SECh. 18 - Prob. 7SECh. 18 - The Mixing Department of Complete Foods had 62,000...Ch. 18 - Prob. 9SECh. 18 - Refer to Short Exercises S18-8 and S18-9. Use...Ch. 18 - Prob. 11SECh. 18 - Prob. 12SECh. 18 - The Mixing Departments production cost report for...Ch. 18 - Prob. 14SECh. 18 - Spring Fresh produces premium bottled water....Ch. 18 - Prob. 16SECh. 18 - For each of the following products or services,...Ch. 18 - Prob. 18ECh. 18 - Complete the missing amounts and labels in the...Ch. 18 - Prob. 20ECh. 18 - Prob. 21ECh. 18 - Color Explosion prepares and packages paint...Ch. 18 - Shea Winery- in Pleasant Valley, New York, has two...Ch. 18 - Shea Winery- in Pleasant Valley, New York, has two...Ch. 18 - Complete the missing amounts in the following...Ch. 18 - On May 31, the Mixing Department ending...Ch. 18 - Refreshing Water Company produces premium bottled...Ch. 18 - Oxford Company had the following transactions in...Ch. 18 - Hartley Company has a production process that...Ch. 18 - Blue Ridge Mountain Manufacturing had the...Ch. 18 - Brians Frozen Pizzas uses FIFO process costing....Ch. 18 - Dee Electronics makes game consoles in three...Ch. 18 - Roan Paper Co. produces the paper used by...Ch. 18 - Prob. 34APCh. 18 - Carla (Carpet manufactures broadloom carpet in...Ch. 18 - Prob. 36APCh. 18 - Cheerful Colors manufactures crayons in a...Ch. 18 - Work Problem P18-33A using the FIFO method. The...Ch. 18 - Prob. 39BPCh. 18 - Smith Paper Co. produces the paper used by...Ch. 18 - Prob. 41BPCh. 18 - Casey Carpet manufactures broadloom carpet in...Ch. 18 - Sea Worthy uses three processes to manufacture...Ch. 18 - Happy Colors manufactures crayons in a three-step...Ch. 18 - Work Problem P18-40B using the FIFO method. The...Ch. 18 - Prob. 46PCh. 18 - Prob. 1TIATCCh. 18 - Billy Davidson operates Billys Worm Firm in...Ch. 18 - Rick Fines and Joe Lopez are the plant managers...
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