Required: Prepare a cost of production report under each of the following cases: P11-2 San Francisco Company manufacturers a product in two departments: A and B. Owing to rigid quality of control measures, an, avoidable unit loss occurs in Department B. Production data for the month of May 2015 follows: In process, beginning Received from Dept. A Finished & transferred 20,000 2/5 completed Units: 30,000 ? 5,000 10,000 2,000 Finished & on hand In process, end. Lost units 1/4 completed 276 INTEGRATED COST ACCOUNTING: Principles and Applications Scanned with Camscanner Costs: In process, beginning Received from Dept. A 60,000 Cost added: 105,000 Materials Labor 28,875 26,960 Overhead 17,290 Lost units are discovered at the start of the process. а. Lost units are discovered during the process. Lost units are discovered at the end of the process. С.

Required: Prepare a cost of production report under each of the following cases: P11-2 San Francisco Company manufacturers a product in two departments: A and B. Owing to rigid quality of control measures, an, avoidable unit loss occurs in Department B. Production data for the month of May 2015 follows: In process, beginning Received from Dept. A Finished & transferred 20,000 2/5 completed Units: 30,000 ? 5,000 10,000 2,000 Finished & on hand In process, end. Lost units 1/4 completed 276 INTEGRATED COST ACCOUNTING: Principles and Applications Scanned with Camscanner Costs: In process, beginning Received from Dept. A 60,000 Cost added: 105,000 Materials Labor 28,875 26,960 Overhead 17,290 Lost units are discovered at the start of the process. а. Lost units are discovered during the process. Lost units are discovered at the end of the process. С.

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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Required: How much is the cost of goods manufactured in department B?
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Q13. Aeron Corp uses WA (weighted-average) method in its process costing system. Data concerning the rst processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory Materials costs 500 $ 7,800 Conversion costs 9,100 Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the month Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion 85% 55% 7,000 6,500 $ 102,700 184,400 2,400 60% 50% Estimate the total cost transferred from the rst processing department to the next processing department?
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Required: Prepare å Fi-4 Zealand Company in its production process points out some units as spoiled (normal). Books of accounts shows following data for the month of December: Units started 5,000 units Units completed 3,000 units Normal spoilage 700 units 1,300 units Ending inventory inaing inventory is fully completed with respect to materials. Direct material introduced into production amounted to P80,000. compute the cost per equivalent unit
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es Exercise 8-39 (Algo) Compute Costs per Equivalent Unit: FIFO Method (LO 8-2,5) The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total $ 59,000 38,000 $ 97,000 $ 150,000 400,000 $ 550,000 Materials are added at the beginning of the process. The following quantities have been recorded: ⚫ Beginning inventory, 43,000 partially complete gallons, 55 percent complete with respect to conversion costs. ⚫ Units started in July, 83,000 gallons. • Units transferred out in July. 93,000 gallons. • Ending inventory, 33,000 gallons, 70 percent complete with respect to conversion costs. Required: Compute the cost per equivalent unit for direct materials and for conversion costs for July using the FIFO method. Note: Round your answers to 2 decimal places. Cost per Equivalent Unit Direct Materials $ 1.19 Conversion Costs $ 4.44
What is the correct answer to number 1, 2 and 3? Please provide solution.
TOPIC: PROCESS COSTING-LOST UNITS
Please show your computations using good accounting form through excel. Thank you! Problem: By products In Department III of SAMCIS Company, a portion of the materials (a by-product) is removed further processed and sold. The Company uses the reversal cost method to account for the by-product. Data for June include: Amount of by-product removed is 2000 units; Estimated sales price of by-product after processing further is P1.20/unit. Estimated processing cost after separation is P0.30 per unit and estimated selling expenses is 10% of the sales price. The estimated profit margin is 5% of the sales price. What is the total cost of the by-product?