Required:1. Enter the balance as of April 1 in a four-column account for Work in Process-Filling. Record the debits and credits in the account for April. Construct a cost of productionreport and present computations for determining (a) equivalent units of production for materials and conversion; (b) cost per equivalent unit; (c) cost of goods finished,differentiating between units started in the prior period and units started and finished in April; and (d) work in process inventory. If an amount box does not require an entry,leave it blank.ACCOUNTWork in Process-Filling DepartmentDATEITEMApr. 1Bal., 600 units, 80% completed30Cooking Dept., 14,340 units at $7.3030Direct labor30Factory overhead30Finished goods30Bal., 1,400 units, 30% completedACCOUNT NO.BALANCEPOST. REF.DEBITCREDITDEBITCREDIT5,76014,68227,16214,626If an amount box does not require an entry, leave it blank. Round cost per unit answers to the nearest cent.

To understand the calculations and results presented in the cost of production report and the…

Answered: Required: 1. Enter the balance as of…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 8E: a. Based upon the data in Exercise 17-7, determine the following for December: 1. Direct materials...

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The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added 50% at the beginning of the process and 50% at the end of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
Refer to the data in Problem 6.31. Assume that the FIFO method is used. Required: 1. Prepare a physical flow schedule. 2. Calculate equivalent units of production for direct materials and conversion costs. 3. Compute unit cost. Round to three decimal places. 4. Calculate the cost of goods transferred to Painting at the end of the month. Calculate the cost of ending inventory.
The charges to Work in ProcessAssembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Determine the following: a. The number of units in work in process inventory at the end of the period b. Equivalent units of production for direct materials and conversion c. Costs per equivalent unit for direct materials and conversion d. Cost of the units started and completed during the period
a. Based upon the data in Exercise 17-7, determine the following for December: 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during December 4. Cost of units started and completed during December 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for November and December, did the conversion cost per equivalent unit increase, decrease, or remain the same in December?
Manor Painting is a commercial interior and exterior painting contractor specializing in commercial buildings. An inventory of materials and equipment is on hand at all times, so work can start as quickly as possible. Special equipment is ordered as required. On August 1, the Materials Inventory account had a balance of $55,300. The Work-in-Process Inventory account is maintained to record costs of work not yet complete. There were two such jobs on August 1 with the following costs: Materials and equipment Direct labor Overhead (applied) Overhead has been applied at 40 percent of the costs of direct labor using an annual rate. Materials and equipment Direct labor (wages payable) Job 84 $ 24,400 21,600 8,640 During August, Manor Painting started two new jobs. Additional work was carried out on Jobs 84 and 87. Job 87 was completed and billed to the customer. Details on the costs incurred on jobs during August follow: Property taxes Storage area rental Job 87 $ 80,100 40,700 16,280 Truck…
a. Determine the number of units in work in process inventory at the end of the month. b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May.
a) Determine the equivalent units of production for October. b) Determine the cost of the ending work-in-process. c) Determine the cost of goods completed. d) What is meant by the term equivalent full units?
1. Enter the balance as of September 1 in a four-column account for Work in Process-Rolling. Record the debits and the credits in the account for September. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion, (b) costs per equivalent unit, (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in September, and (d) work in process inventory. If an amount box does not require an entry, leave it blank. ACCOUNT Work in Process-Rolling Department ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Sept. 1 Bal., 1,200 units, 60% completed Sept. 30 Smelting Dept., 27,000 units at $3.7 Sept. 30 Direct labor Sept. 30 Factory overhead Sept. 30 Finished goods Sept. 30 Bal., 3,500 units, 20% completed
Case 6-20 Effect of Incorrect Costing across Departments-Weighted-Average Me LO5] Tavia Limited manufactures a plastic gasket that is used in automobile engines. The gaskets go through th Mixing, Forming, and Stamping. The company's accountant (who is very inexperienced) has prepared a su costs for the Forming Department for October, as follows: Work in process inventory, October 1 (10,500 units; materials 100% complete; conversion 7/8 complete) Costs transferred in from the Mixing Department Material added during October (added when processing is 50% complete in the Forming Department) Conversion costs added during October Total departmental costs Forming Department costs assigned to: Units completed and transferred to the Stamping Department (120,000 units at $3.81451 each) Work in process inventory, October 31 (5,500 units, conversion 2/5 complete) Total departmental costs assigned $ 45,045* 148,130 Required: 56,880 207,686 $457,741 $457,741 0 $457,741 *Consists of cost transferred…
Prepare a cost of production, presenting the following computations: A. 1. Direct materials and conversion equivalent units of production for August. 2. Direct materials and conversion costs per equivalent unit for August. 3. Cost of goods finished during August 4.Cost of work in process at August 31 B. Commute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July)
a. Calculate the equivalent units for the Forming Department for the month of August. b. Find the cost per equivalent unit of direct materials and conversion associated with the units transferred during the month. (Round your answers to 2 decimal places.)
The following is data obtained from PT Bandar Abadi for June 2018 The following is data about the work-in-progress account balance: Requested: 1. Calculate production costs for June 2018 2. Calculate the main costs for the month of June 2018 3. Calculate the conversion fee for June 2018 4. Calculate the cost of production for June 2018

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