1. Clean Angling Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 2,300 97 88 Work-in-process inventory — June 30 3,600 68 48 Started processing during June 8,600 Total equivalent units for conversion under the FIFO method are calculated to be: 2. Armor Company had the following information for the month of December. All direct materials were one hundred percent complete, and beginning materials cost $33,700. Work in Process Inventory Beginning balance @ 12/1: 640 units, 10% completed $ 37,000 Completed 1,160 units and transferred them to finished goods inventory $ 278,607 Direct materials 85,000 Direct labor 61,000 Overhead Property taxes 27,000 Depreciation 58,000 Utilities 42,000 Indirect labor 25,000 Ending balance @ 12/31: 460 units, 20% completed $ 56,393 Cost per equivalent unit for materials under the FIFO method is calculated to be (rounded): 3. Armor Company had the following information for the month of December. All direct materials were one hundred percent complete, and beginning materials cost $22,700. Work in Process Inventory Beginning balance @ 12/1: 420 units, 10% completed $ 26,000 Completed 1,050 units and transferred them to finished goods inventory $ 217,291 Direct materials 74,000 Direct labor 50,000 Overhead Property taxes 16,000 Depreciation 47,000 Utilities 31,000 Indirect labor 14,000 Ending balance @ 12/31: 405 units, 20% completed $ 40,709 Cost per equivalent unit for conversion under the FIFO method is calculated to be (rounded): 4. Shyne Incorporated calculates cost for an equivalent unit of production using the weighted-average method. Data for July: Work-in-process inventory, July 1 (37,500 units): Direct materials (97% completed) $ 122,550 Conversion (53% completed) 77,000 Balance in work in process inventory, July 1 $ 199,550 Units started during July 91,500 Units completed and transferred 104,700 Work-in-process inventory, July 31: Direct materials (97% completed) 24,300 Conversion (53% completed) Cost incurred during July: Direct materials $ 181,500 Conversion costs 289,500 Cost per equivalent unit for materials under the weighted-average method is calculated to be:

1. Clean Angling Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 2,300 97 88 Work-in-process inventory — June 30 3,600 68 48 Started processing during June 8,600 Total equivalent units for conversion under the FIFO method are calculated to be: 2. Armor Company had the following information for the month of December. All direct materials were one hundred percent complete, and beginning materials cost $33,700. Work in Process Inventory Beginning balance @ 12/1: 640 units, 10% completed $ 37,000 Completed 1,160 units and transferred them to finished goods inventory $ 278,607 Direct materials 85,000 Direct labor 61,000 Overhead Property taxes 27,000 Depreciation 58,000 Utilities 42,000 Indirect labor 25,000 Ending balance @ 12/31: 460 units, 20% completed $ 56,393 Cost per equivalent unit for materials under the FIFO method is calculated to be (rounded): 3. Armor Company had the following information for the month of December. All direct materials were one hundred percent complete, and beginning materials cost $22,700. Work in Process Inventory Beginning balance @ 12/1: 420 units, 10% completed $ 26,000 Completed 1,050 units and transferred them to finished goods inventory $ 217,291 Direct materials 74,000 Direct labor 50,000 Overhead Property taxes 16,000 Depreciation 47,000 Utilities 31,000 Indirect labor 14,000 Ending balance @ 12/31: 405 units, 20% completed $ 40,709 Cost per equivalent unit for conversion under the FIFO method is calculated to be (rounded): 4. Shyne Incorporated calculates cost for an equivalent unit of production using the weighted-average method. Data for July: Work-in-process inventory, July 1 (37,500 units): Direct materials (97% completed) $ 122,550 Conversion (53% completed) 77,000 Balance in work in process inventory, July 1 $ 199,550 Units started during July 91,500 Units completed and transferred 104,700 Work-in-process inventory, July 31: Direct materials (97% completed) 24,300 Conversion (53% completed) Cost incurred during July: Direct materials $ 181,500 Conversion costs 289,500 Cost per equivalent unit for materials under the weighted-average method is calculated to be:

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 30E: Proteger Company manufactures insect repellant lotion. The Mixing Department, the first process...

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	Tons of King Salmon	Percent Completed
Materials	Conversion
Work-in-process inventory — June 1	2,300	97	88
Work-in-process inventory — June 30	3,600	68	48
Started processing during June	8,600

Total equivalent units for conversion under the FIFO method are calculated to be:

2. Armor Company had the following information for the month of December. All direct materials were one hundred percent complete, and beginning materials cost $33,700.

Work in Process Inventory
Beginning balance @ 12/1: 640 units, 10% completed	$ 37,000	Completed 1,160 units and transferred them to finished goods inventory	$ 278,607
Direct materials	85,000
Direct labor	61,000
Overhead Property taxes	27,000
Depreciation	58,000
Utilities	42,000
Indirect labor	25,000
Ending balance @ 12/31: 460 units, 20% completed	$ 56,393

Cost per equivalent unit for materials under the FIFO method is calculated to be (rounded):

3. Armor Company had the following information for the month of December. All direct materials were one hundred percent complete, and beginning materials cost $22,700.

Work in Process Inventory
Beginning balance @ 12/1: 420 units, 10% completed	$ 26,000	Completed 1,050 units and transferred them to finished goods inventory	$ 217,291
Direct materials	74,000
Direct labor	50,000
Overhead Property taxes	16,000
Depreciation	47,000
Utilities	31,000
Indirect labor	14,000
Ending balance @ 12/31: 405 units, 20% completed	$ 40,709

Cost per equivalent unit for conversion under the FIFO method is calculated to be (rounded):

4. Shyne Incorporated calculates cost for an equivalent unit of production using the weighted-average method.

Data for July:
Work-in-process inventory, July 1 (37,500 units):
Direct materials (97% completed)	$ 122,550
Conversion (53% completed)	77,000
Balance in work in process inventory, July 1	$ 199,550
Units started during July	91,500
Units completed and transferred	104,700
Work-in-process inventory, July 31:
Direct materials (97% completed)	24,300
Conversion (53% completed)
Cost incurred during July:
Direct materials	$ 181,500
Conversion costs	289,500

Cost per equivalent unit for materials under the weighted-average method is calculated to be:

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