The cost per equivalent unit of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.70 and $0.10, respectively. The equivalent units to be assigned costs are as follows: Direct Materials Conversion Inventory in process, beginning of period 3,160 Started and completed during the period 51,950 51,950 Transferred out of Bottling (completed) 51,950 55,110 00 57,810 Inventory in process, end of period 099 Total units to be assigned costs The beginning work in process inventory had a cost of $3,950. Determine the cost of completed and transferred-out production and the ending work in process inventory. When required, round your answers to the nearest dollar. Completed and transferred out production Inventory in process, ending items Previous ( XƏN へ nere to search 9:44 PM 53°F Cloudy (中岁 12/6/2021 a. SU delete 144 ZA pause alt alt ctrl USE YOL

The cost per equivalent unit of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.70 and $0.10, respectively. The equivalent units to be assigned costs are as follows: Direct Materials Conversion Inventory in process, beginning of period 3,160 Started and completed during the period 51,950 51,950 Transferred out of Bottling (completed) 51,950 55,110 00 57,810 Inventory in process, end of period 099 Total units to be assigned costs The beginning work in process inventory had a cost of $3,950. Determine the cost of completed and transferred-out production and the ending work in process inventory. When required, round your answers to the nearest dollar. Completed and transferred out production Inventory in process, ending items Previous ( XƏN へ nere to search 9:44 PM 53°F Cloudy (中岁 12/6/2021 a. SU delete 144 ZA pause alt alt ctrl USE YOL

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Description: The cost per equivalent unit of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.70 and $0.10, respectively.The equivalent units to be assigned costs are as follows:Direct Materials ConversionInventory in

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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The cost per equivalent unit of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.50 and $0.20, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, beginning of period Started and completed during the period Transferred out of Bottling (completed) Inventory in process, end of period Total units to be assigned costs Direct Materials 52,120 0 52,120 3,010 55,130 LA LA Conversion The beginning work in process inventory had a cost of $3,020. Determine the cost of completed and transferred-out production and the ending work in process inventory. When required, round your answers to the nearest dollar. Completed and transferred out production Inventory in process, ending 3,110 52,120 55,230 2,700 57,930
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak Ridge Steel Company are $1.05 and $0.80, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, July 1 0 3,500 Started and completed during July 50,000 50,000 Transferred out of Rolling (completed) 50,000 53,500 Inventory in process, July 31 5,000 2,000 Total units to be assigned costs 55,000 55,500 The beginning work in process inventory on July 1 had a cost of $2,000. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production $fill in the blank 1 Inventory in process, ending $fill in the blank 2 Total costs assigned by the Rolling Department $fill in the blank 3
*The cost per equivalent units of direct materials and conversion in the Roasting Department of Robusta Coffee Company are $0.60 and $0.25, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, beginning of period Direct Materials Conversion 0 3,000 Started and completed during the period 52,000 52,000 Transferred out of Roasting (completed) 52,000 55,000 Inventory in process, end of period Total units to be assigned costs 3,500 2,100 55,500 57,100 The beginning work in process inventory had a cost of $6,500. Based on the information provided, the total cost of units completed and transferred-out production is equal to: $54,075 $2,625 $51,450 $44,200
Equivalent Units of Conversion Costs The Filling Department of Ivy Cosmetics Company had 4,700 ounces in beginning work in process inventory (90% complete). During the period, 33,500 ounces were completed. The ending work in process inventory was 1,700 ounces (70% complete). What are the total equivalent units for conversion costs? 38,920 X units. Feathark
The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $1.80 and $1.95, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 4,100 Started and completed during the period 51,000 51,000 Transferred out of Filling (completed) 51,000 55,100 Inventory in process, end of period 3,000 900 Total units to be assigned costs 54,000 56,000 The beginning work in process inventory had a cost of $2,870. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar. Completed and transferred-out production Inventory in process, ending
. . 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 Materials are added at the beginning of the process. The following quantities have been recorded: Beginning inventory, 49,500 partially complete gallons, 15 percent complete with respect to conversion costs. Units started in July, 89,500 gallons. . Units transferred out in July, 99,500 gallons. Ending inventory, 39,500 gallons, 65 percent complete with respect to conversion costs. $ 65,500 44,500 $ 110,000 Direct Materials Conversion Costs $ 215,000 465,000 $ 680,000 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
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…
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $0.55 and $2.55, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 0 4,100 Started and completed during October 59,000 59,000 Transferred out of Rolling (completed) 59,000 63,100 Inventory in process, October 31 7,000 3,500 Total units to be assigned costs 66,000 66,600 The beginning work in process inventory on October 1 had a cost of $2,500. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department
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?
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $2.35 and $0.70, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Equivalent Units Direct Materials 0 Equivalent Units Conversion 3,200 54,000 54,000 54,000 7,000 Total units to be assigned costs 61,000 The beginning work in process inventory on October 1 had a cost of $2,080. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department 57,200 2,100 59,300
Following is a partial production cost report for Mitchell Manufacturing's Canning Department. Equivalent units of production (EUP) Completed and transferred out Ending Work in Process Cost per EUP Cost of beginning work in process Costs added this period Total costs % EUP from part (a) Cost per EUP Multiple Choice $158,400. $175,032. Direct Materials $ 41,800 140,100 $ 181,900 92,000 $ 1.98 per EUP The total direct materials costs transferred out of the Canning department equals: $181,900. $182,160. Units 80,000 12,000 $226,400. Direct Materials Percent Complete 100% 100% EUP 80,000 12,000 92,000 Conversion Percent Complete Conversation $ 61,500 188,500 $ 250,000 88,400 100% 70% $ 2.83 per EUP EUP 80,000 8,400 88,400
Question Content Area The cost per equivalent units of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.40 and $0.20, respectively. The equivalent units to be assigned costs are as follows: DirectMaterials Conversion Inventory in process, beginning of period 0 3,390 Started and completed during the period 51,330 51,330 Transferred out of Bottling (completed) 51,330 54,720 Inventory in process, end of period 3,080 2,500 Total units to be assigned costs 54,410 57,220 The beginning work in process inventory had a cost of $3,180. Determine the cost of completed and transferred out production, and the ending work in process inventory. Completed and transferred out production $fill in the blank 1 Inventory in process, ending