Managerial Accounting
17th Edition
ISBN: 9781260247787
Author: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Publisher: RENT MCG
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Chapter 4.A, Problem 5E
EXERCISE 4A-5 Computation of Equivalent
MediSecure, Inc., uses the FIFO method in its
Beginning work in process:
| Units in process | 500 |
| Completion with respect to materials | 80% |
| Completion with respect to conversion | 40% |
| Units started into production during the month | 153,600 |
| Units completed and transferred out | 153,700 |
| Ending work in process: | |
| Units in process | 400 |
| Completion with respect to materials | 75% |
| Completion with respect to conversion | 20% |
Required:
Compute the Molding Department’s equivalent units of production for materials and conversion for the period.
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Chapter 18: Process Costing - Practice Questions
1) Pet Products Company uses an automated process to manufacture its pet replica products. For June,
the company had the following activities:
Beginning work in process inventory
Units placed in production
Units completed
Ending work in process inventory
Cost of beginning work in process
Direct material costs, current
Conversion costs, current
4,500 items, 1/4 complete with regards to conversion costs
15,000 units
17,500 units
2,000 items, 3/4 complete with regards to conversion costs
Direct Materials = $3,000; Conversion Costs = $2,250
$16,500
$23,945
Direct materials are placed into production at the beginning of the process and conversion costs are
incurred evenly throughout the process. Compute the following using FIFO method:
a) Units completed and transferred out.
17,500 units
b) Total cost to account for.
Beginning WIP+Units in production
4,500+15,000
=19,500 units
c) Equivalent units with respect to direct materials and…
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Cost of Units Completed and in Process
The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in
process at the beginning of production.
Work in Process-Assembly Department
Bal., 8,000 units, 40% completed
22,880
To Finished Goods, 184,000 units
Direct materials, 188,000 units @ $1.5
282,000
Direct labor
494,400
Factory overhead
192,320
Bal. ? units, 40% completed
a. Based on the above data, determine the different costs listed below.
If required, round your interim calculations to two decimal places.
1. Cost of beginning work in process inventory completed this period.
2. Cost of units transferred to finished goods during the period.
$4
3. Cost of ending work in process inventory.
%$4
4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest
cent.
b. Did the production costs change from the preceding period?
c.…
Č P112,500
D P177,400
2DThe cost of goods put to process for the month of June is:
A P717600
B P803,600
C P957,000
D P957,600
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 - Prob. 6CCh. 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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