4. Department B (the final production process) had 3,000 units in Work in Process that was 25% completed at the beginning of the period at a cost of $12,500. 13,700 units of direct materials were added during the period at a cost of $28,770. 15,000 units were completed during the period, and 1,700 units were 95% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $15,145. a) Determine the equivalent units for Direct Material and for Conversion Costs. b) What is the total cost of the items completed and transferred out? c) Provide the journal entry for the items transferred out.

4. Department B (the final production process) had 3,000 units in Work in Process that was 25% completed at the beginning of the period at a cost of $12,500. 13,700 units of direct materials were added during the period at a cost of $28,770. 15,000 units were completed during the period, and 1,700 units were 95% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $15,145. a) Determine the equivalent units for Direct Material and for Conversion Costs. b) What is the total cost of the items completed and transferred out? c) Provide the journal entry for the items transferred out.

Name: 4. Department B (the final production process) had 3,000 units in Wor
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Description: 4. Department B (the final production process) had 3,000 units in Work in Process that was 25%completed at the beginning of the period at a cost of $12,500. 13,700 units of direct materials wereadded during the period at a cost of $28,770. 15,000 un

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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6. Production department records show the following: beginning work in process of 25,000 units (100% material, 30% conversion): 80,000 units started; and ending work in process of 12,000 units (100% material, 40% conversion). The company uses the FIFO method. The total equivalent units of production for the period are: A .105,000 units material, 97,800 units conversion B. 25,000 in process, beginning, and 93,000 units transferred ou C. answer not given D. 80,000 units material, 90,300 units conversion E. 93,000 units material, 90,300 units conversion
In the month of June, a department had 20900 units in beginning work in process that were 75% complete. During June, 90400 units were transferred into production from another department. At the end of June there were 9800 units in ending work in process that were 45% complete. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. The equivalent units of production for materials for June were 111300 equivalent units. 101500 equivalent units. 90400 equivalent units. 115710 equivalent units.
Department G had 1,920 units 25% completed at the beginning of the period, 13,300 units were completed during the period; 1,600 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $26,700 Costs added during period: Direct materials (12,980 units at $8) 103,840 Direct labor 86,400 Factory overhead 28,800 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of the units started and completed during the period is (do not round unit cost calculations) $91,040 $170,856 $210,764 $190,810
The Pulp Department of Paper Mill, Inc. had 120,000 tons of pulp to account for in July. Of the 120,000 tons, 90,000 tons were completed and transferred to the Screening Department, and the remaining 30,000 tons were 60% complete. The materials required for production are added at the beginning of the process. Conversion costs are added equally throughout the refining process. Calculate the total equivalent units of production for direct materials. 108,000 units 120,000 units 90,000 units 84,000 units
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2. Department A had 16,000 units in the beginning work in process that is 45% with respect to material and 80% completed with respect to conversion costs. 12,000 units were added during the period; 20,000 units were completed and transferred and the remaining units in ending work-in-process were 65% completed with respect to materials and 35% completed with respect to conversion cost. The following additional information relate to the cost incurred: Work in Process (Material is $750,000; Conversion $1,250,000) Cost Added this period (Material is $2,000,000; Conversion $1,000,000) Required: Given the quantity schedule that has been prepared for you below, a. What is the cost of units completed and transferred? b. What is the cost of the units in ending work-in-process? Quantity Schedule (Weighted Average Process Costing Method) WIP beginning Units added this period Units to be accounted for Completed and Transferred Ending WIP Material 65%; Conversion 35% Total units accounted for Total…
2. The Finishing Department started the month with 500 units in process, received 2,000 units from the Assembly Department, and transferred 2,100 units to the finished goods storage area. All direct materials are added at the beginning of the process. The units in process at the end of the month are 45% complete with respect to conversion costs. The department uses the weighted-average method. The Finishing Department incurred the following costs: Added this month Total $ 25,000 $ 31,250 2,000 2,500 5,590 6,840 $ 32,590 $ 40,590 Transferred In Direct Materials Conversion Costs Total Beginning WIP $ 6,250 500 1,250 $ 8,000 1). How many units are still in process at the end of the month? 2). Compute the equivalent units of production for the Finishing Department. 3). Determine the cost per equivalent unit for transferred in, direct materials, and conversion costs. 4). Determine the cost to be transferred to Finished Goods Inventory.
4. Eania Company began the month of December with beginning work in process of 4,000 units that are 100% complete as to materials and 30% complete as to conversion costs. Units transferred out are 12,000 units. Ending work in process contains 5,000 units that are 100% complete as to materials and 40% complete as to conversion costs. Instructions Compute the equivalent units of production for materials and conversion costs for the month of December.
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