1. Peter Senen Manufacturing Company has just completed its production activities for February 2019. The production manager furnished you their data for this month: Department X Department Y Quantity units: In process, February 1 16,000 10,000 Stage of completion 4/5 40% Started in process 64,000 Received from prior dept. 70.000 In process, February 28 12,000 Stage of completion 2/5 2/3 Costs data: In process, February 1 P 21,020 P20,300 Current costs Materials 28,350 46,800 Labor 15,300 25,200 Manufacturing Overhead 9,180 14,400 In Department X, material application is described to you as follows: 10% is applied at the start of the process; 25% when the process reaches the mid-point; and the remainder, when the process reaches 85% completion. Labor and Overhead are applied evenly throughout the process. In Department Y, the application of material is described as follows: 20% when the process is '1/4 completed; 30% when the process is '1/2 completed and the balance, at the end of the process. Both departments use the FIFO method. The equivalent units of production for materials in Department X is

1. Peter Senen Manufacturing Company has just completed its production activities for February 2019. The production manager furnished you their data for this month: Department X Department Y Quantity units: In process, February 1 16,000 10,000 Stage of completion 4/5 40% Started in process 64,000 Received from prior dept. 70.000 In process, February 28 12,000 Stage of completion 2/5 2/3 Costs data: In process, February 1 P 21,020 P20,300 Current costs Materials 28,350 46,800 Labor 15,300 25,200 Manufacturing Overhead 9,180 14,400 In Department X, material application is described to you as follows: 10% is applied at the start of the process; 25% when the process reaches the mid-point; and the remainder, when the process reaches 85% completion. Labor and Overhead are applied evenly throughout the process. In Department Y, the application of material is described as follows: 20% when the process is '1/4 completed; 30% when the process is '1/2 completed and the balance, at the end of the process. Both departments use the FIFO method. The equivalent units of production for materials in Department X is

Name: a. The equivalent units of production for materials in Department X i
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Description: a. The equivalent units of production for materials in Department X is?b. The equivalent units of production for conversion in Department X isc. The equivalent units of production for materials in Department Y is 1. Peter Senen Manufacturing Company

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Explain the calculation of equivalent units of production.
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A direct material standard cost is? The cost of direct materials that should be incurred to produce one unit of output or product. The cost of all materials and supplies used to produce one unit of output or product. The price that should be spent to purchase each unit of direct material for production. The amount of direct materials that should be used to produce one unit of output or product.
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