Managerial Accounting
15th Edition
ISBN: 9781337912020
Author: Carl Warren, Ph.d. Cma William B. Tayler
Publisher: South-Western College Pub
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Chapter 3, Problem 3BE
The Rolling Department of Kraus Steel Company had 200 tons in beginning work in process inventory (60% complete) on October 1. During October, 3,900 tons were completed. The ending work in process inventory on October 31 was 300 tons (25% complete). What are the total equivalent units for direct materials for October if materials are added at the beginning of the process?
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Managerial Accounting
Ch. 3 - Which type of cost system, process or job order,...Ch. 3 - In job order cost accounting, the three elements...Ch. 3 - In a job order cost system, direct labor and...Ch. 3 - Why is the cost per equivalent unit often...Ch. 3 - What is the purpose for determining the cost per...Ch. 3 - Rameriz Company is a process manufacturer with two...Ch. 3 - What is the most important purpose of the cost of...Ch. 3 - How are cost of production reports used for...Ch. 3 - Job order versus process costing Which of the...Ch. 3 - Kraus Steel Company has two departments, Casting...
Ch. 3 - The Rolling Department of Kraus Steel Company had...Ch. 3 - The Rolling Department of Kraus Steel Company had...Ch. 3 - The cost of direct materials transferred into the...Ch. 3 - The costs per equivalent unit of direct materials...Ch. 3 - In October, the cost of materials transferred into...Ch. 3 - Prob. 8BECh. 3 - Entries for materials cost flows in a process cost...Ch. 3 - Flowchart of accounts related to service and...Ch. 3 - Radford Inc. manufactures a sugar product by a...Ch. 3 - The cost accountant for River Rock Beverage Co....Ch. 3 - The Converting Department of Worley Company had...Ch. 3 - Data for the two departments of Kimble Pierce...Ch. 3 - The following information concerns production in...Ch. 3 - a. Based upon the data in Exercise 17-7, determine...Ch. 3 - Equivalent units of production Kellogg Company...Ch. 3 - Costs per equivalent unit Georgia Products Inc....Ch. 3 - The charges to Work in ProcessAssembly Department...Ch. 3 - a. Based on the data in Exercise 17-11, determine...Ch. 3 - Errors in equivalent unit computation Napco...Ch. 3 - Cost per equivalent unit The following information...Ch. 3 - Costs per equivalent unit and production costs...Ch. 3 - Cost of production report The debits to Work in...Ch. 3 - Cost of Production report The Cutting Department...Ch. 3 - Prob. 18ECh. 3 - Prob. 19ECh. 3 - Prob. 20ECh. 3 - The Converting Department of Tender Soft Tissue...Ch. 3 - Units of production data for the two departments...Ch. 3 - The following information concerns production in...Ch. 3 - Prob. 24ECh. 3 - The following information concerns production in...Ch. 3 - Prob. 26ECh. 3 - Prepare a cost of production report for the...Ch. 3 - Entries for process cost system Port Ormond Carpet...Ch. 3 - Cost of production report Hana Coffee Company...Ch. 3 - Equivalent units and related costs; cost of...Ch. 3 - Work in process account data for two months; cost...Ch. 3 - Sunrise Coffee Company roasts and packs coffee...Ch. 3 - Entries for process cost system Preston Grover...Ch. 3 - Cost of production report Bavarian Chocolate...Ch. 3 - Equivalent units and related costs; cost of...Ch. 3 - Work in process account data for two months; cost...Ch. 3 - Blue Ribbon Flour Company manufactures flour by a...Ch. 3 - Dura-Conduit Corporation manufactures plastic...Ch. 3 - Analyzing process cost elements across product...Ch. 3 - Analyzing process cost elements over time Pix...Ch. 3 - Determining cost relationships Midst ate...Ch. 3 - Ethics in Action You are the Cookie division...Ch. 3 - Communications Jamarcus Bradshaw, plant manager of...Ch. 3 - Accounting for materials costs In papermaking...Ch. 3 - During December, Krause Chemical Company had the...Ch. 3 - Jones Corporation uses a first-in, first-out...Ch. 3 - Kimbeth Manufacturing uses a process cost system...Ch. 3 - A company is using process costing with the...
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- Kraus Steel Company has two departments, Casting and Rolling. In the Rolling Department, ingots From the Casting Department are rolled into steel sheet. The Rolling Department received 4,000 tons from the Casting Department in October. During October, the Rolling Department completed 3,900 tons, including 200 tons of work in process on October 1. The ending work in process inventory on October 31 was 300 tons. How many tons were started and completed during October?arrow_forwardDuring March, the following costs were charged to the manufacturing department: $22,500 for materials; $45,625 for labor; and $50,000 for manufacturing overhead. The records show that 40,000 units were completed and transferred, while 10,000 remained in ending inventory. There were 45,000 equivalent units of material and 42,500 units of conversion costs. Using the weighted-average method, prepare the companys process cost summary for the month.arrow_forwardNarwhal Swimwear has a beginning work in process inventory of 13,500 units and transferred in 130,000 units before ending the month with 14,000 units that were 100% complete with regard to materials and 30% complete with regard to conversion costs. The cost per unit of material is $5.80 and the cost per unit for conversion is $8.20 per unit. Using the weighted-average method, what is the amount of material and conversion costs assigned to the department for the month?arrow_forward
- Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units before ending the month with 3.000 u flits that were 100% complete with regard to materials and 80% complete with regard to conversion costs. The cost per unit of material is $5.45, and the cost per unit for conversion is $6.20 per unit, Using the weighted-average method, prepare the companys process cost summary for the month.arrow_forwardThe finishing department started the month with 600 units in WIP inventory. Lt received 1,500 units from the molding department and ended the month with 550 units still in process. How many units were transferred out?arrow_forwardThe records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units one-fourth completed at a cost of 2,500 for materials, 1,400 for labor, and 1,800 for overhead. Production costs for the monthmaterials, 130,000; labor, 70,000; and factory overhead, 82,000. Units completed and transferred to stock45,000. Work in process, end of month5,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost. (Round unit costs to three decimal places.)arrow_forward
- Clearwater Candy Co. had a cost per equivalent pound for the month of 4.56 for materials, 1.75 for labor, and 1.00 for overhead. During the month, 10,250 lb were completed and transferred to finished goods. The 3,200 lb in ending work in process were 100% complete as to materials and 60% complete as to labor and overhead. At the beginning of the month, 1,500 lb were in process, 100% complete as to materials and 50% complete as to labor and overhead. The beginning inventory had a cost of 8,775. Clearwater uses FIFO costing. Required: 1. Calculate the cost of the pounds completed and transferred to finished goods. 2. Calculate the cost of the ending work in process.arrow_forwardA company started the month with 4,519 units in work in process inventory. It started 15,295 units and had an ending inventory of 4,936. The units were 100% complete to materials and 30% complete with conversion. How many units were transferred out during the period?arrow_forwardPrecision Inc. manufactures wristwatches on an assembly line. The work in process inventory as of March 1 consisted of 1,000 watches that were complete as to materials and 75% complete as to labor and overhead. The March 1 work in process costs were as follows: During the month, 10,000 units were started and 9,500 units were completed. The 1,500 units of ending inventory were complete as to materials and 25% complete as to labor and overhead. The costs for March were as follows: Calculate: a. Equivalent units for material, labor, and overhead, using the weighted average cost method b. Unit costs for materials, labor, and overhead c. Cost of the units completed and transferred d. Detailed cost of the ending inventory e. Total of all costs accounted forarrow_forward
- Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was 40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments. The second department (Polishing) had the following physical flow schedule for December: Costs in beginning work in process for the Polishing Department were direct materials, 5,000; conversion costs, 6,000; and transferred in, 8,000. Costs added during the month: direct materials, 32,000; conversion costs, 50,000; and transferred in, 40,000. Required: 1. Assuming the use of the weighted average method, prepare a schedule of equivalent units. 2. Compute the unit cost for the month.arrow_forwardNorwood Co. had 200 units in work in process at the beginning of the month. During the month, 7,500 units were started in production, 6,800 of which, along with the beginning work in process, were completed by the end of the month. The uncompleted units were in ending inventory, one-half complete. What were the equivalent units of production for the month?arrow_forwardThe finishing department started the month with 700 units in WIP inventory. It received 2.200 units from the molding department and transferred out 2,150 units. How many units were in process at the end of the month?arrow_forward
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