A process manufacturer that uses the weighted-average method reports the following. Beginning work in process inventory Units completed and transferred out Ending work in process inventory Equivalent units of production for conversion are: Multiple Choice 125,200. Units 38,000 108,000 43,000 Conversion Percent Complete 80% 40%

A process manufacturer that uses the weighted-average method reports the following. Beginning work in process inventory Units completed and transferred out Ending work in process inventory Equivalent units of production for conversion are: Multiple Choice 125,200. Units 38,000 108,000 43,000 Conversion Percent Complete 80% 40%

Name: A process manufacturer that uses the weighted-average method reports
Uploaded: 2024-03-20T06:32:37.000Z
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Description: A process manufacturer that uses the weighted-average method reports the following.Beginning work in process inventoryUnits completed and transferred outEnding work in process inventoryEquivalent units of production for conversion are:Multiple Choic

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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4.
A company has 1,300 units in ending work in process that are 30% complete after transferring out 12,000 units. All materials are added at the beginning of the process. If the cost per unit is $3 for materials and $6 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method? Cost of units transferred out $fill in the blank 1 Ending work in process inventory $fill in the blank 2
Prepare a physical unit flow reconciliation with the following information. Units of Product 150,000 310,000 340,000 120,000 Blending Process Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Units to account for: Physical unit flow reconciliation Units accounted for:
How to find: * Cost of beginning work in process inventory completed this period. *Cost of units transferred to finished goods during the period. * Cost of ending work in process inventory. * Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. Work in Process—Assembly Department Bal., 6,000 units, 55% completed 18,540 To Finished Goods, 138,000 units ? Direct materials, 141,000 units @ $2.1 296,100 Direct labor 192,900 Factory overhead 75,000 Bal. ? units, 70% completed ?
Required information [The following information applies to the questions displayed below.] Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. Units Beginning work in process inventory Units started this period 67,000 Direct Materials Percent Complete 100% Conversion Percent Complete 80% 844,000 Units completed and transferred out Ending work in process inventory 715,000 196,000 100% 90% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 296,075 133,710 $ 429,785 1,981,425 2,540,490 4,521,915 $ 4,951,700 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Note: Round "Cost per EUP" to 2…
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Required information [The following information applies to the questions displayed below.] Units of Percent of Blending Process Beginning work in process Product Conversion 164,000 345,000 375,000 134,000 85% Goods started 100 Goods completed Ending work in process 100 40 Compute the total equivalent units of production for conversion using the weighted-average method. Equivalent units of production (EUP) with respect to conversion - weighted average method Units % Conversion EUP Total
A paint producer reports the following information: Units Conversion Percent Complete Beginning work in process inventory 404,000 30% Units started this period 788,000 Units completed and transferred out 848,000 Ending work in process inventory 344,000 65% A company uses the weighted-average method. What are total equivalent units of production for conversion costs?