05 Following is a partial production cost report for Mitchell Manufacturing's Canning department. Equivalent units of production (EUP) Completed and transferred out Ending Work in Process Cost per EUP Cost of beginning work in process Costs added this period Total costs Units 80,000 12,000 Direct Materials Percent Complete EUP 100% 100% Direct Materials $ 43,000 144,000 $ 187,000 + Equivalent units of production 92,000 Cost per EUP $ 2.03 per EUP The total conversion costs transferred out of the Canning department equals: 80,000 12,000 92,000 Conversion $ 63,200 193,600 $ 256,800 88,400 Conversion Percent Complete 100% 80% $ 2.90 per EUP EUP 80,000 8,400 88,400

05 Following is a partial production cost report for Mitchell Manufacturing's Canning department. Equivalent units of production (EUP) Completed and transferred out Ending Work in Process Cost per EUP Cost of beginning work in process Costs added this period Total costs Units 80,000 12,000 Direct Materials Percent Complete EUP 100% 100% Direct Materials $ 43,000 144,000 $ 187,000 + Equivalent units of production 92,000 Cost per EUP $ 2.03 per EUP The total conversion costs transferred out of the Canning department equals: 80,000 12,000 92,000 Conversion $ 63,200 193,600 $ 256,800 88,400 Conversion Percent Complete 100% 80% $ 2.90 per EUP EUP 80,000 8,400 88,400

Name: 05Following is a partial production cost report for Mitchell Manufact
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: 05Following is a partial production cost report for Mitchell Manufacturing's Canning department.Equivalent units of production (EUP)Completed and transferred outEnding Work in ProcessCost per EUPCost of beginning work in processCosts added this peri

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Q. 2
Ocess The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials placed in process at the beginning of production. Work In Process-Assembly Department Bal., 2,000 units, 25% completed 5,100 To Finished Goods, 46,000 units Direct materials, 47,000 units @ $1.7 79,900 Direct labor 126,400 Factory overhead 49,165 Bal., 2 units, 65% completed Cost per equivalent units of $1.70 for Direct Materials and $3.70 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 24 1. Cost of beginning work in process inventory completed this period %24 2. Cost of units transferred to finished goods during the period %24 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest $ cent.)
In the manufacture of 9,700 units of a product, direct materials cost incurred was $171,100, direct labor cost incurred was $108,700, and applied factory overhead was $44,500. The total conversion cost is a. $324,300 b. $153,200 c. $44,500 d. $171,100
Sheffield Company had the following department information for the month: Total materials costs Equivalent units of production for materials Total conversion costs Equivalent units of production for conversion costs What is the total manufacturing cost per unit? O $3.20. O $7.90. O $4.70. O $3.63. $47000 10000 $80000 25000
I want to correct answer for this question
es Exercise 8-39 (Algo) Compute Costs per Equivalent Unit: FIFO Method (LO 8-2,5) The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total $ 59,000 38,000 $ 97,000 $ 150,000 400,000 $ 550,000 Materials are added at the beginning of the process. The following quantities have been recorded: ⚫ Beginning inventory, 43,000 partially complete gallons, 55 percent complete with respect to conversion costs. ⚫ Units started in July, 83,000 gallons. • Units transferred out in July. 93,000 gallons. • Ending inventory, 33,000 gallons, 70 percent complete with respect to conversion costs. Required: Compute the cost per equivalent unit for direct materials and for conversion costs for July using the FIFO method. Note: Round your answers to 2 decimal places. Cost per Equivalent Unit Direct Materials $ 1.19 Conversion Costs $ 4.44
Q8. Bruce Company uses the weighted-average method in its process costing system. Information concerning Department A for the month of June as follows: Units Materials Costs Work in process, beginning 17,000 £12,800 Started in June 82,000 £69,700 Units completed 85,000 Work in process, ending 14,000 All materials are added at the beginning of the process. Compute the cost per equivalent unit for materials costs. A £0.83 B £0.90 C £0.93 D £1.01
Here are selected data for Ramalingagowda Company: Cost of goods manufactured $320,000 Work in process inventory, beginning 109,000 Work in process inventory, ending 104,000 Direct materials used 73,000 Manufacturing overhead is allocated at 50% of direct labor cost. What was the approximate amount of manufacturing overhead costs? Select one: a. $161,333 b. $80,667 c. $242,000 d. $78,000 e. $151,250
Muscat Painting Company has the following production data for March. Beginning work process 400,000 units (60% complete), started into production 370,000 units, completed and transferred out 706,000 units, and ending work in process 40,000 units (40% complete). the equivalent units of production for conversion costs will be: Select one: O a. 810,000. O b. 650,000. O c 770,000. O d. None of the answers are correct O e. 722,000.
Following is a partial production cost report for Mitchell Manufacturing's Canning Department. Equivalent units of production (EUP) Completed and transferred out Ending Work in Process Cost per EUP Cost of beginning work in process Costs added this period Total costs % EUP from part (a) Cost per EUP Multiple Choice $158,400. $175,032. Direct Materials $ 41,800 140,100 $ 181,900 92,000 $ 1.98 per EUP The total direct materials costs transferred out of the Canning department equals: $181,900. $182,160. Units 80,000 12,000 $226,400. Direct Materials Percent Complete 100% 100% EUP 80,000 12,000 92,000 Conversion Percent Complete Conversation $ 61,500 188,500 $ 250,000 88,400 100% 70% $ 2.83 per EUP EUP 80,000 8,400 88,400
Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 39,000 units, 100% complete as to materials and 60% complete as to conversion. Units started and completed: 138,000. Units completed and transferred out: 177,000. Ending Inventory: 37,000 units, 100% complete as to materials and 30% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $57,000. Costs in beginning Work in Process - Conversion: $62,850. Costs incurred in February - Direct Materials: $301,000. Costs incurred in February -Conversion: $613,150. Calculate the equivalent units of conversion. Multiple Choice 251,000 225,100 O 138,000 175 000