A new accountant has accidentally deleted some Process Costing data related to the production of a department for August in the management accounting information system. He can only retrieve the following data: Percent Completed Units Materials Conversion Work in process, August 1 Work in process, August 31 Units completed and transferred out in August 270,000 Work in process, August 1 Cost added during August 35,000 (1) 100% 80% 100% (2) $43,400 (3) (4) $397,600 Equivalent units of production 315,000 (5)

A new accountant has accidentally deleted some Process Costing data related to the production of a department for August in the management accounting information system. He can only retrieve the following data: Percent Completed Units Materials Conversion Work in process, August 1 Work in process, August 31 Units completed and transferred out in August 270,000 Work in process, August 1 Cost added during August 35,000 (1) 100% 80% 100% (2) $43,400 (3) (4) $397,600 Equivalent units of production 315,000 (5)

Name: A new accountant has accidentally deleted some Process Costing data r
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Description: A new accountant has accidentally deleted some Process Costing data related to the productionof a department for August in the management accounting information system. He can onlyretrieve the following data:Percent CompletedUnitsMaterialsConversion

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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Please don't provide answer in image format thank you The Machining Department started the current month with a beginning goods in process inventory of $10,000. During the month, it was assigned the following costs: direct materials, $76,000; direct labor, $24,000; and factory overhead, 50% of direct labor cost. Also, inventory with a cost of $109,000 was transferred out of the department to the next phase in the process. The ending balance of the Goods in Process Inventory account for the Machining Department is: $13,000. $56,000. $59,000. $110,000. $165,000.
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Continuation.. Data for Finishing Department are as follows: Cost Data: Beginning Work in Process Costs Transferred In from Prior Dept 27,225 Costs Incurred in this Department: Materials 1,500 Labor 5,500 Overhead 4,500 Current Month Cost: Costs Transferred In from Prior Dept ?????? Costs Incurred in this Department: Materials 23,500 Labor 70,000 Overhead 75,000 Production Data: Quantity: Work in Process – Beginning 10,000 Started in Process 30,000 Transferred out to Next Department From Work in Process – Beginning 10000 Started and Completed 18,500 28,500 Work in Process – Ending 10,800 Lost Units – Normal 450 Abnormal Lost Units 250 Stage of Completion: Beginning Ending Transferred In Costs 100% 100% Materials 60% 55% Labor 60% 55% Overhead 60% 55% 1. Referring to Finishing Department, what is the total cost allocated to abnormal spoilage using the weighted-average method? 2.…
How do I find the numbers to the questions marks?Selling expenses $ 211,000Purchases of raw materials $ 266,000Direct labor ?Administrative expenses $ 152,000Manufacturing overhead applied to work in process $ 363,000Actual manufacturing overhead cost $ 350,000Inventory balances at the beginning and end of the year were as follows:Beginning of Year End of YearRaw materials $ 53,000 $ 32,000Work in process ? $ 28,000Finished goods $ 33,000 ?The total manufacturing costs for the year were $670,000; the cost of goods available for sale totaled $750,000; the unadjusted cost of goods sold totaled $661,000; and the net operating income was $38,000. The company’s underapplied or overapplied overhead is closed to Cost of Goods Sold.
please solve it using weighted average method while showing T-accounts and every step. solve it ASAP! S C Smith Company reported the following activity in the Assembly Department for the month of June: Work in process, June 1 Units started into production in June Units completed and transferred out of Department A during June Work in process, June 30 Units 300 6,000 5,400 900 Percent Completed Materials Conversion 20% 40% 60% 30%
Elmo has the following information for the month of October, its first month of operations Work in Progress October 0 Units completed and transferred in october 120,000 Work in process October 30 32,000 100% completed for matrials 80% completed for conversion costsCosts added in October Materials $145,900 Direct Labor $96,000 Overheads $108,000Requireda) Determine the equivalent units of production for October. b) Determine the cost of the ending work-in-process. c) Determine the cost of goods completed. d) What is meant by the term equivalent full units?
Elmoe has the following information for the month of October, its first month of operations: Work in Process October 1 Units completed & transferred out in October Work in process October 30 100% completed for materials 80% completed for conversion costs 120,000 32,000 Costs added in October S145,900 $96,000 Materials Direct Labor Overhead S108,000 Required a) Determine the equivalent units of production for October. b) Determine the cost of the ending work-in-process. c) Determine the cost of goods completed. d) What is meant by the term equivalent full units?
Betty DeRose, Inc. operates two departments, the handling department and the packaging department. During April, the handling department reported the following information: work in process, April 1 units started during April work in process, April 30 units 27,000 59,000 34,000 work in process, April 1 costs added during April total costs % complete DM 60% DM $ 25,310 $190,720 $216,030 70% The cost of beginning work in process and the costs added during April were as follows: % complete conversion 85% Conversion $191, 175 $208,985 $400, 160 40% Total cost $216,485 $399, 705 $616, 190 Calculate the equivalent units with respect to conversion costs using the FIFO process costing method.
Betty DeRose, Inc. operates two departments, the handling department and the packaging department. During April, the handling department reported the following information: work in process, April 1 units started during April work in process, April 30 units 27,000 59,000 34,000 work in process, April 1 costs added during April total costs % complete DM 60% DM $ 25,310 $190,720 $216,030 70% The cost of beginning work in process and the costs added during April were as follows: % complete conversion 85% Conversion $191,175 $208,985 $400, 160 40% Total cost $216,485 $399,705 $616, 190 Calculate the total cost of the 27,000 units in the beginning work in process using the FIFO process costing method.
Betty DeRose, Inc. operates two departments, the handling department and the packaging department. During April, the handling department reported the following information: work in process, April 1 units started during April work in process, April 30 units 27,000 59,000 34,000 work in process, April 1 costs added during April total costs % complete DM 60% DM $ 25,310 $190,720 $216,030 70% The cost of beginning work in process and the costs added during April were as follows: % complete conversion 85% Conversion $191,175 $208,985 $400,160 40% Total cost $216,485 $399,705 $616,190 Calculate the total cost of the handling department's work in process inventory at April 30 using the weighted average process costing method.
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Auditor labour costs Auditor hours (a) $5,570 Cost of each job $ 80 Determine the cost assigned to each job. eTextbook and Media Save for Later $6,700 Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $60 per auditor hour. The Koppel job is the only incomplete job at the end of November. Actual overhead for the month was $13,060. 94 Koppel $3,575 46 $ Dupont $ Rojas Attempts: 0 of 3 used Submit Answer