A department adds all raw materials to a process at the beginning of the processand incurs conversion costs uniformly throughout the process. For the month ofJanuary, there were no units in the beginning work in process inventory; 90300units were started into production in January; and there were 20800 units thatwere 30% complete in the ending work in process inventory at the end of January.What were the equivalent units of production for materials for the month ofJanuary?O90300 equivalent unitsO 84060 equivalent units.69500 equivalent units.96540 equivalent units.heeles

Correct answer is – 90,300 equivalent units.

Answered: A department adds all raw materials to…

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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May Company uses the weighted average method in its process costing system. Operating data for the Casting Department for the month of September appear below: Units Percentage complete Beginning work in process inventory 19 000 80% Transferred in from the previous department during September 74 000 Ending work in process inventory 17 000 90% According to the company's records, the conversion cost in beginning work in process inventory was R83 600 at the beginning of September. Additional conversion costs of R427 682 were incurred in the department during the month. No losses occurred during the month. Calculate the cost per equivalent unit for conversion costs for September. (Round off to three decimal places.) A. R5.498 B. R4.684 C. R6.580 D. R5.600
Materials costs of $648000 and conversion costs of $822180 were charged to a processing department in the month of September. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. There were no units in beginning work in process, 120000 units were started into production in September, and there were 6000 units in ending work in process that were 30% complete at the end of September.What was the total amount of manufacturing costs assigned to the 6000 units in the ending work in process? $12780. $45180. $22500. $32400.
Information for the Hi-Test company’s production process for September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process. Work in process inventory, September 1 (2,000 units, 100% complete with respect to direct materials, 80% complete with respect to direct labor and overhead; consists of $45,000 of direct materials cost and $56.320 conversion cost). = $101,320 Costs incurred in September Direct materials = $375,000 Conversion. = $341.000 Work in process inventory, September 30 (7.000 units, 100% complete with respect to direct materials, 40% complete with respect to conversion) = $___? Units started in September = 28.000 Units completed and transferred to finished goods inventory. = 23.000 < Question > The total variable cost of goods transferred out. The total variable cost of ending work in process inventory.
In the month of April, a department had 500 units in the beginning work in process inventory that were 60% complete. These units had $64000 of materials costs and $42000 of conversion costs. Materials are added at the beginning of the process and conversion costs are added uniformly throughout the process. During April, 10000 units were completed and transferred to the finished goods inventory and there were 2200 units that were 25% complete in the ending work in process inventory on April 30. During April, manufacturing costs charged to the department were: Materials $1583000; Conversion costs $1857000.(Round unit matrial and coversion cost to 0 decimal place, e.g. 135.)The cost assigned to the units transferred to finished goods during April was $3256000. $3172000. $3128000. $3150000.
Materials costs of $960000 and conversion costs of $1110000 were charged to a processing department in the month of September. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. There were no units in beginning work in process, 16000 units were started into production in September, and there were 7000 units in ending work in process that were 30% complete at the end of September.What was the total amount of manufacturing costs assigned to those units that were completed and transferred out of the process in September? $1776000. $1164375. $2560000. $1440000.
Materials costs of $530000 and conversion costs of $698400 were charged to a processing department in the month of September. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. There were no units in beginning work in process, 100000 units were started into production in September, and there were 5000 units in ending work in process that were 40% complete at the end of September.What was the total amount of manufacturing costs assigned to the 5000 units in the ending work in process? $26500. $25000. $14400. $40900.
A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory 30,000 units were started into production in January and there were 8,000 units that were 45% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for materials for the month of January? A) 33,600 equivalent units B) 25,600 equivalent units C) 30,000 equivalent units D) 38,000 equivalent units
Materials costs of $1440000 and conversion costs of $1995000 were charged to a processing department in the month of September. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. There were no units in beginning work in process, 24000 units were started into production in September, and there were 5000 units in ending work in process that were 40% complete at the end of September.What was the total amount of manufacturing costs assigned to those units that were completed and transferred out of the process in September? $2945000. $3720000. $3255000. $2719375.
Department X is the first stage of Sarena Solvents's production cycle. The following information is available for conversion costs for the month of December: Physical Units Beginning work-in-process inventory (60% complete) 48,000 Started in December 533,000 Completed in December and transferred to Department Y 514,500 Ending work-in-process inventory (40% complete) 66,500 Using the FIFO method, the equivalent units for the conversion cost calculation are: Multiple Choice 557,000. 521,000. 525,000. 539,000. None of the options are correct
The Rolling Department of Oak Ridge Steel Company had 4,830 tons in beginning work in process inventory (90% complete) on July 1. During July, 48,300 tons were completed. The ending work in process inventory on July 31 was 3,864 tons (90% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.
Conscience Company uses the FIFO method in its process costing system. Department A had 20,000 units in process at the beginning of January, that were 40% complete with respect to conversion costs. All materials are added at the beginning of the process in Department A. The January 1 work in process inventory in Department A contained P10,000 in materials cost and P12,800 in conversion cost. During January, materials costs were P0.50 per equivalent unit and conversion costs were P1.60 per equivalent unit. All of the units in the beginning work in process inventory were completed and transferred out during the month. What was the total cost attached to these units when they were transferred to the next department?
Equivalent Units of Materials Cost The Rolling Department of Kraus Steel Company had 3,800 tons in beginning work in process inventory (20% complete) on October 1. During October, 63,400 tons were completed. The ending work in process inventory on October 31 was 3,200 tons (80% complete).

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