Process Costing : Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process. Requirement 1 To Determine: Equivalent Units of Production with respect to (a) conversion and (b) Direct Materials.

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Answer 1

Question

Chapter 20, Problem 2APSA

(1) Equivalent units of production with respect to (a) conversion and (b)direct materials.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 1

To Determine:

Equivalent Units of Production with respect to (a) conversion and (b) Direct Materials.

(2) Conversion Cost and Direct Material Cost per unit.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 2

To Determine:

Conversion cost and Direct Material cost per equivalent unit.

Conversion Cost and Direct Material Cost Assigned to (a) completed and transferred units and (b) ending work in process.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 3

Cost Assignment and Reconciliation

Cost of Goods Manufactured
Direct Materials(7000003) 2100000
Conversion(7000004.5) 3150000 5250000
Cost of ending work in process
Direct Materials(1800003) 540000
Conversion(540004.5) 243000 783000
Total Cost Accounted For 6033000

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Answer 2

Question

Chapter 20, Problem 2APSA

(1) Equivalent units of production with respect to (a) conversion and (b)direct materials.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 1

To Determine:

Equivalent Units of Production with respect to (a) conversion and (b) Direct Materials.

(2) Conversion Cost and Direct Material Cost per unit.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 2

To Determine:

Conversion cost and Direct Material cost per equivalent unit.

Conversion Cost and Direct Material Cost Assigned to (a) completed and transferred units and (b) ending work in process.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 3

Cost Assignment and Reconciliation

Cost of Goods Manufactured
Direct Materials(7000003) 2100000
Conversion(7000004.5) 3150000 5250000
Cost of ending work in process
Direct Materials(1800003) 540000
Conversion(540004.5) 243000 783000
Total Cost Accounted For 6033000

Expert Solution & Answer

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Answer 3

Question

Chapter 20, Problem 2APSA

(1) Equivalent units of production with respect to (a) conversion and (b)direct materials.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 1

To Determine:

Equivalent Units of Production with respect to (a) conversion and (b) Direct Materials.

(2) Conversion Cost and Direct Material Cost per unit.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 2

To Determine:

Conversion cost and Direct Material cost per equivalent unit.

Conversion Cost and Direct Material Cost Assigned to (a) completed and transferred units and (b) ending work in process.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 3

Cost Assignment and Reconciliation

Cost of Goods Manufactured
Direct Materials(7000003) 2100000
Conversion(7000004.5) 3150000 5250000
Cost of ending work in process
Direct Materials(1800003) 540000
Conversion(540004.5) 243000 783000
Total Cost Accounted For 6033000

Expert Solution & Answer

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Answer 4

Question

Chapter 20, Problem 2APSA

(1) Equivalent units of production with respect to (a) conversion and (b)direct materials.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 1

To Determine:

Equivalent Units of Production with respect to (a) conversion and (b) Direct Materials.

(2) Conversion Cost and Direct Material Cost per unit.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 2

To Determine:

Conversion cost and Direct Material cost per equivalent unit.

Conversion Cost and Direct Material Cost Assigned to (a) completed and transferred units and (b) ending work in process.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 3

Cost Assignment and Reconciliation

Cost of Goods Manufactured
Direct Materials(7000003) 2100000
Conversion(7000004.5) 3150000 5250000
Cost of ending work in process
Direct Materials(1800003) 540000
Conversion(540004.5) 243000 783000
Total Cost Accounted For 6033000

Expert Solution & Answer

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Answer 5

Chapter 20, Problem 2APSA

(1) Equivalent units of production with respect to (a) conversion and (b)direct materials.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 1

To Determine:

Equivalent Units of Production with respect to (a) conversion and (b) Direct Materials.

(2) Conversion Cost and Direct Material Cost per unit.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 2

To Determine:

Conversion cost and Direct Material cost per equivalent unit.

Conversion Cost and Direct Material Cost Assigned to (a) completed and transferred units and (b) ending work in process.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 3

Cost Assignment and Reconciliation

Cost of Goods Manufactured
Direct Materials(7000003) 2100000
Conversion(7000004.5) 3150000 5250000
Cost of ending work in process
Direct Materials(1800003) 540000
Conversion(540004.5) 243000 783000
Total Cost Accounted For 6033000

Answer 6

Chapter 20, Problem 2APSA

(1) Equivalent units of production with respect to (a) conversion and (b)direct materials.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 1

To Determine:

Equivalent Units of Production with respect to (a) conversion and (b) Direct Materials.

Answer 7

Chapter 20, Problem 2APSA

(1) Equivalent units of production with respect to (a) conversion and (b)direct materials.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 1

To Determine:

Equivalent Units of Production with respect to (a) conversion and (b) Direct Materials.

Answer 8

(2) Conversion Cost and Direct Material Cost per unit.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 2

To Determine:

Conversion cost and Direct Material cost per equivalent unit.

Answer 9

(2) Conversion Cost and Direct Material Cost per unit.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 2

To Determine:

Conversion cost and Direct Material cost per equivalent unit.

Answer 10

Conversion Cost and Direct Material Cost Assigned to (a) completed and transferred units and (b) ending work in process.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 3

Cost Assignment and Reconciliation

Cost of Goods Manufactured
Direct Materials(7000003) 2100000
Conversion(7000004.5) 3150000 5250000
Cost of ending work in process
Direct Materials(1800003) 540000
Conversion(540004.5) 243000 783000
Total Cost Accounted For 6033000

Answer 11

Conversion Cost and Direct Material Cost Assigned to (a) completed and transferred units and (b) ending work in process.

To determine

Concept Introduction:

Process Costing:

Process costing is mainly used in manufacturing units, wherein bulk units of standard goods are produced at a time in lots. It is used for each department of production to determine the costs assigned to units transferred out and ending work in process.

Requirement 3

Cost Assignment and Reconciliation

Cost of Goods Manufactured
Direct Materials(7000003) 2100000
Conversion(7000004.5) 3150000 5250000
Cost of ending work in process
Direct Materials(1800003) 540000
Conversion(540004.5) 243000 783000
Total Cost Accounted For 6033000

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 20 - Prob. 1DQ Ch. 20 - Prob. 2DQ Ch. 20 - Prob. 3DQ Ch. 20 - Prob. 4DQ Ch. 20 - Prob. 5DQ Ch. 20 - Explain in simple terms the notion of equivalent...Ch. 20 - Prob. 7DQ Ch. 20 - Prob. 8DQ Ch. 20 - Direct labor costs flow through what accounts in a...Ch. 20 - Prob. 10DQ

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Cost Assignment and Reconciliation

Cost of Goods Manufactured
Direct Materials(700000*3)	2100000
Conversion(700000*4.5)	3150000	5250000
Cost of ending work in process
Direct Materials(180000*3)	540000
Conversion(54000*4.5)	243000	783000
Total Cost Accounted For		6033000