Managerial Accounting
16th Edition
ISBN: 9781259995484
Author: Ray Garrison
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 4.A, Problem 10P
PROBLEM 4A-10 Equivalent Units of Production; Assigning Costs; Cost Reconciliation Report-FIFO Method LO4-6, LO4-7, LO4-8, LO4-9
Selzik Company makes super-premium cake mixes that to through two processing departments-Blending and Packaging. The following activity was recorded in the Blending Department during July:
Production data:
All materials are added at the beginning of work in the Blending Department. The company uses the FIFO method in its
Required:
- Calculate the Blending Department's equivalent units of production for materials and conversion for July.
- Calculate the Blending Department's cost per equivalent unit for materials and conversion for July.
- Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for July.
- Calculate the Blending Department's cost of units transferred out to the next department for materials, conversion, and in total for July.
- Prepare a cost reconciliation report for the Blending Department for July
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Chapter 6 - Question 49 :
Production Report, Weighted Average
Mino Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Mino uses the weighted average method. The following are cost and production data for the cooking department for April (Note: Assume that units are measured in gallons.):
Production:
Units in process, April 1, 60% complete
33,500
Units completed and transferred out
43,000
Units in process, April 30, 20% complete
12,000
Costs:
WIP, April 1
$ 80,600
Costs added during April
350,700
Required:
Prepare a production report for the cooking department. Round cost per equivalent unit value to the nearest cent and use rounded value in intermediate calculations.
Please check my answers in the attached 2 images
Exercise 1: Process costingSelzik Company makes super-premium cake mixes that go through two processing departments, Blending and Packaging. The following activity was recordedin the Blending Department during July:Production data:TotalUnits in process, July 1(materials 100% complete; conversion 30% complete)10,000Units started into Production170,000Units complete and transferred to Packaging?Units in process, July 31 (materials 100% complete; conversion 40% complete)20,000Cost data:Work in process inventory, July 1:Materials cost$ 8,500Conversion cost4,900$13,400Cost added during the month:Materials cost$139,400Conversion cost244,200383,600Total Cost$397,000All materials are added at the beginning of work in the Blending Department. Required:Prepare a production report in weighted average method and FIFO method for the Blending Department for July. Use the following 3 steps as a guide in preparing your report:1.Prepare a quantity schedule and compute the equivalents units2.Compute the…
EXAMPLE 6.7
The HOW and WHY of Physical Flow Analysis and Equivalent Units: FIFO Method
Information: The production of Bienestar's antihistamine product begins in the Blending Department. All materials are added at the beginning of the blending process. Output is measured in ounces. The production data for May are as follows:
Production:
Units in process, May 1, 70% complete* Units completed and transferred out
Units in process, May 31, 40% complete* *With respect to conversion costs.
15,000 90,000 30,000
Why:
The physical flow schedule traces the units in process regardless of their stage of completion and provides the information needed for preparing the equivalent units schedule. FIFO uses only current output to calculate the current-period unit cost. Thus, FIFO treats the work (equivalent output) in BWIP as belonging to the prior period and only counts the work (equivalent output for each input) done this period as part of this period's output.
Required: 1. Prepare a…
Chapter 4 Solutions
Managerial Accounting
Ch. 4.A - EXERCISE 4A-1 Computation of Equivalent Units of...Ch. 4.A - EXERCISE 4A-2 Cost per Equivalent Unit-FIFO Method...Ch. 4.A - EXERCISE 4A-3 Assigning Costs to Units-FIFO Method...Ch. 4.A - EXERCISE 4A-4 Cost Reconciliation Report-EIFO...Ch. 4.A - EXERCISE 4A-5 Computation of Equivalent Units of...Ch. 4.A - EXERCISE 4A-6 Equivalent Units of Production-FIFO...Ch. 4.A - EXERCISE 4A-7 Equivalent Units of Production and...Ch. 4.A -
EXERCISE 4A-8 Equivalent Units of Production—FIFO...Ch. 4.A - EXERCISE 4A-9 Equivalent Units; Equivalent Units...Ch. 4.A - PROBLEM 4A-10 Equivalent Units of Production;...
Ch. 4.A - Prob. 11PCh. 4.A - Prob. 12CCh. 4.B - Prob. 1ECh. 4.B - EXERCISE 4B-2 Step-Down Method LO4-11 Madison Park...Ch. 4.B - Prob. 3ECh. 4.B - EXERCISE 4B-4 Direct Method LO4-10 Refer to the...Ch. 4.B - PROBLEM 4B-5 Step-Down Method L04-11 Woodbury...Ch. 4.B - PROBLEM 4B-6 Step-Down Method versus Direct...Ch. 4.B - CASE 4B-7 Step-Down Method versus Direct Method...Ch. 4 - Prob. 1QCh. 4 - In what ways are job-order and process costing...Ch. 4 - Why is cost accumulation simpler in a process...Ch. 4 - How many Work in Process accounts are maintained...Ch. 4 - Prob. 5QCh. 4 - Prob. 6QCh. 4 - Prob. 7QCh. 4 - Prob. 8QCh. 4 - Prob. 1AECh. 4 - This exercise relates to the Double Diamond Skis’...Ch. 4 - This exercise relates to the Double Diamond Skis’...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Prob. 10F15Ch. 4 - Prob. 11F15Ch. 4 - Prob. 12F15Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 - Prob. 14F15Ch. 4 - Prob. 15F15Ch. 4 - Prob. 1ECh. 4 - Prob. 2ECh. 4 - Prob. 3ECh. 4 - EXERCISE 4-4 Assigning Costs to...Ch. 4 - EXERCISE 4-5 Cost Reconciliation...Ch. 4 - Prob. 6ECh. 4 - Prob. 7ECh. 4 - Prob. 8ECh. 4 -
EXERCISE 4-9 Equivalent Units and Cost per...Ch. 4 - Prob. 10ECh. 4 - Prob. 11ECh. 4 - Prob. 12ECh. 4 - Prob. 13PCh. 4 - Prob. 14PCh. 4 - Prob. 15PCh. 4 - PROBLEM 4-16 Comprehensive...Ch. 4 - Prob. 17PCh. 4 - Prob. 18PCh. 4 - Prob. 19CCh. 4 - (
CASE 4-20 Ethics and the Manager, Understanding...
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