Andrews Corporation uses the weighted-average method of process costing. The following information is available for February in its Polishing Department: Equivalent units of production-direct materials Equivalent units of production-conversion Costs in beginning work in process-direct materials Costs in beginning work in process-conversion Costs incurred in February-direct materials Costs incurred in February-conversion 102,000 EUP 88,000 EUP $ 54,800 $ 40,300 $ 4,63,500 $ 5,82,200 The cost per equivalent unit of production for direct materials is:

Andrews Corporation uses the weighted-average method of process costing. The following information is available for February in its Polishing Department: Equivalent units of production-direct materials Equivalent units of production-conversion Costs in beginning work in process-direct materials Costs in beginning work in process-conversion Costs incurred in February-direct materials Costs incurred in February-conversion 102,000 EUP 88,000 EUP $ 54,800 $ 40,300 $ 4,63,500 $ 5,82,200 The cost per equivalent unit of production for direct materials is:

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 14E: Cost per equivalent unit The following information concerns production in the Forging Department for...

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Units of production data for the two departments of Atlantic Cable and Wire Company for July of the current fiscal year are as follows: Each department uses the weighted average method. For each department, assume that direct Materials are placed in process during production. a. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Drawing Department. b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Winding Department.
K-Briggs Company uses the FIFO method to account for the costs of production. For Crushing, the first processing department, the following equivalent units schedule has been prepared: The cost per equivalent unit for the period was as follows: The cost of beginning work in process was direct materials, 40,000; conversion costs, 30,000. Required: 1. Determine the cost of ending work in process and the cost of goods transferred out. 2. Prepare a physical flow schedule.
Dublin Brewing Co. uses the process cost system. The following data, taken from the organizations books, reflect the results of manufacturing operations during October: Production Costs Work in process, beginning of period: Costs incurred during month: Production Data: 13,000 units finished and transferred to stockroom Work in process, end of period, 2,000 units one-half completed Required: Prepare a cost of production summary for October.
Seacrest Company uses a process-costing system. The company manufactures a product that is processed in two departments: A and B. As work is completed, it is transferred out. All inputs are added uniformly in Department A. The following summarizes the production activity and costs for November: Required: 1. Using the weighted average method, prepare the following for Department A: (a) a physical flow schedule, (b) an equivalent unit calculation, (c) calculation of unit costs (Note: Round to four decimal places.), (d) cost of EWIP and cost of goods transferred out, and (e) a cost reconciliation. 2. CONCEPTUAL CONNECTION Prepare journal entries that show the flow of manufacturing costs for Department A. Use a conversion cost control account for conversion costs. Many firms are now combining direct labor and overhead costs into one category. They are not tracking direct labor separately. Offer some reasons for this practice.
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