A production department's output for the most recent month consisted of 8,700 units completed and transferred to the next stage of production and 5,700 units in ending Work in Process inventory. The units in ending Work in Process inventory were 60% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method. Multiple Choice 7,500 units. 10,920 units.

A production department's output for the most recent month consisted of 8,700 units completed and transferred to the next stage of production and 5,700 units in ending Work in Process inventory. The units in ending Work in Process inventory were 60% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method. Multiple Choice 7,500 units. 10,920 units.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

1. For a company that uses process costing, Processing Department C had the following information for the most recent month: Beginning inventory for the month contained 12,000 units that were 30 percent complete with respect to materials. During the month, 80,000 units were completed and transferred out. Ending inventory was 6,000 units, 60 percent complete with respect to materials. What would be the weighted average equivalent units of production for materials for the month? 2. For a company that uses process costing, Processing Department F had the following information for the most recent month: Units Beginning Work-in-Process Inventory (40 percent complete) 5,000 Units started during the month 18,000 Ending Work-in-Process Inventory (10 percent complete) 4,000 Materials and conversion are incurred uniformly throughout the process. What would be the equivalent units of production for conversion when using the weighted average costing method? 3. New Method Company uses a process…
1. Bingham Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below.Work in process, beginning: Units in beginning work-in-process inventory400Materials costs$6,900Conversion costs$2,500Percentage complete for materials80%Percentage complete for conversion15%Units started into production during the month6,000Units transferred to the next department during the month5,000Materials costs added during the month$112,500Conversion costs added during the month$210,300Ending work in process:Units in ending work-in-process inventory1,200Percentage complete for materials60%Percentage complete for conversion30%Calculate the equivalent units for materials (using the weighted-average method) for the month in the first processing department.2. (Ignore income taxes in this problem.) Five years ago, the City of Paranoya spent $30,000 to purchase a computerized radar system called W.A.S.T.E.…
[The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Units Beginning work in process inventory 71,000 Percent Complete 65% Percent Complete 35% Units started this period 377,000 Completed and transferred out 355,000 Ending work in process inventory 93,000 90% 40% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Completed and transferred out Ending work in process Total Equivalent units of production: Weighted average method Direct Materials Conversion Units Percent Complete EUP Percent Complete EUP 355,000 93,000 448,000
Lights Incorporated calculates cost for an equivalent unit of production using the welghted-average method. Data for July: Work-in-process inventory, July 1 (36,000 units): Direct materials (100% completed) $ 122,400 Conversion (5e% completed) 76,800 Balance in work in process inventory, July 1 $ 199, 200 Units started during July Units completed and transferred Work-in-process inventory, July 31: 90,000 102,000 Direct materials (180% completed) Conversion (50% completed) Cost incurred during July: 24,000 Direct materials $ 180,000 Conversion costs 288, 000 Cost per equlvalent unit for materials under the welghted-average method is calculated to be: Multiple Choice $3.10. O $3.20. O $2.00. O $240. $3.00.
3. The Assembly Department for Bright Company has the following production data for the current month. Beginning Work in Process Units transferred out Ending Work in Process -0- 20,000 10,000 Materials are entered at the beginning of the process. The ending work in process units are 70% complete as to conversion costs. Instructions: Compute the equivalent units of production for (a) materials and (b) conversion costs (2 marks) 4. Tien Group estimates that unit sales will be 20,000 in quarter 1, 24,000 in quarter 2, 27,000 in quarter 3 and 33,000 in quarter 4. Management desires to have an ending finished goods inventory equal to 20% of the next quarter's expected unit sales. Instructions: Prepare a production budget by quarters for the first 6 months of 2020. (*
Department M had 2, 800 units 53% completed in process at the beginning of June, 11, 200 units completed during June, and 800 units 33% completed at the end of June. The number of equivalent units of production for conversion costs for June if the first - in, first-out method is used to cost inventories is a. 11,464 units b. 9, 980 units c. 8, 400 units d. 12, 264 units
The following information summarizes the activities in the Mixing Department for the month of March. Beginning inventory 8,000 units, 80% complete Started and completed 196,000 units Ending inventory 24,000 units, 25% complete Material is added at the beginning of the process, and conversion costs are incurred evenly throughout the process. Calculate the equivalent units of production with respect to materials during the month of March using the weighted average method. Select one: a. 228,000 b. 212,000 c. 208,000 d. 244,000 e. 210,000